Regular Savings Accounts: The Best Currently Available List!

bristolleedsfan

Special_Saver2 wrote: »

Oh, I should add Kazza242 to that list too!

i second kazza

RayWolfe

Dat Kazza am de king!

Kazza242

Special Saver 2 - Nationwide will be increasing their regular savings account rate by 0.25% on August 1st.

- Savers paying in £200 - £250 per month will see an increase from 6.50% to 6.75%.
- Those paying in £100 - £199.99 per month will receive an increase from 6.00% to 6.25%.
- Finally, savers paying in £0 - £99.99 will receive an increase from 4.50% to 4.75%.

See this thread:

Nationwide increases savings rates...(Aug 1st 2007)

Joscar

I have an invest direct account with nationwide, but as the rate is not the best I was looking at moving the money elsewhere. I saw their regular saver account, if I request online banking, can I drip feed from Nationwide Invest Direct to Nationwide regular saver? Or does the £250 per month (to get the best rate) need to be 'new money' from outside of Nationwide.

If it is OK to transfer can I do it via post using the Invest Direct post service instead of setting up online banking ?

I have looked on their web site but did not find the answer to the above.

Or would I be better off transferring elsewhere?

Thanks

bristolleedsfan

Joscar wrote: »

I have an invest direct account with nationwide, but as the rate is not the best I was looking at moving the money elsewhere. I saw their regular saver account, if I request online banking, can I drip feed from Nationwide Invest Direct to Nationwide regular saver? Or does the £250 per month (to get the best rate) need to be 'new money' from outside of Nationwide.

If it is OK to transfer can I do it via post using the Invest Direct post service instead of setting up online banking ?

I have looked on their web site but did not find the answer to the above.

Or would I be better off transferring elsewhere?

Thanks

investdirect rates are extremely low, ud be better off drip feeding from elsewhere, if u have a nationwide flexi account ( current account) u would run e-saver ( 5.55% gross at current rates) along side the current account, instant transfers from one to another, and u could then do instant transfers from flexi account to reg saver ( personally id go for yorkshire RS/scarborough/monmouth reg savers before nationwide R/S in that order as their are strings attached to nationwides "up to" rates

if u were to go for yorkshire RS, u could move your money from invest direct to yorkshire online account ( higher rate than nationwide e-saver i believe) and drip feed from yorkshire online account to yorkshire RS. ( 7% gross at current rates)

max per month. yorkshire 500.00, scarborough 250, monmouth 1000.00, unlike nationwide high rate is paid even if u only put the minimum monthly requirement in some or all months, and unlike nationwide should u make a capital withdrawal you still get full rate in the month u make capital withdrawal.

if u going to keep invest direct for drip feeding into nationwide reg saver and u dont want to set up online banking u could withdraw 250 via cashpoint from invest direct account and pay it into nationwide reg saver via same cashpoint. u would have to ask nationwide about transferring funds by post.

Joscar

Thanks for the feedback, Looks like I need to open some new accounts and be a better savings rate tart.

Thanks

bristolleedsfan

Joscar wrote: »

Thanks for the feedback, Looks like I need to open some new accounts and be a better savings rate tart.

Thanks

trouble with nationwides reg saver is in any month that u make a capital withdrawal which makes the net inflow less than 200.00 you get lower rate for that month, say 2 years down the line if someone can no longer pay in 200.00 a month min u get a lower rate every month that 200.00-250.00 is not paid in ( or even 5 years down the line), 250 per month max inflow is very mean for largest building society imho.

none of the other ongoing building society reg savers have such strings attached.

RayWolfe

Come on BLF, you know how to work it. If you need to withdraw, take most of the money out and start again so you only have a small amount exposed to the lower rate. Just the opposite of what we'll do when YBS gets close to the 20K figure.
All these accounts are there to be manipulated by us as well as the providers. ;-)
Ray
PS Don't forget that the upside to NWs account is that you can withdraw as many times as you need to so as emergency savings it has benefits.

kempstar

mary wrote: »

Just spoken to a knowledgeable CS rep at Ipswich in light of what you wrote.
I have the 8.45% Target Saver, plus the 7.35 and 6.9 as well My last payment goes out on July 2st. At maturity they will notify you, but you can keep the SOs going but effectively it will become a second Target Saver 3 at 6.9%. It is only permitted for maturing accounts. In short you will have 2 x 6.9% accounts. However, you cannot walk in off the street and open up a 2nd account, it is only for those who already have a maturing account. Your lump sum of £3,000+ will automatically go into a Premier 30 account and you can take the money out, do what you want with it from then on.

Hello

I have a Target Saver issue 1 at 8.45% that is just about to mature, and I didnt really understand your post. Would someone mind explaining it for me?

If I carry on paying £250 per month into this, will I then get 6.9% interest on the whole balance (£3000 + a years interest) and the additional monthly payments I make?

Can I open another Target saver 3 account, so I would effectively be paying £500 per month in? If so, I take it the interest on both would be 6.9%?

Many thanks in advance
Christian

mary

kempstar wrote: »

Hello

I have a Target Saver issue 1 at 8.45% that is just about to mature, and I didnt really understand your post. Would someone mind explaining it for me?

If I carry on paying £250 per month into this, will I then get 6.9% interest on the whole balance (£3000 + a years interest) and the additional monthly payments I make?

Can I open another Target saver 3 account, so I would effectively be paying £500 per month in? If so, I take it the interest on both would be 6.9%?

When the 8.45% account matures, the £3,000 + interest will be tipped into a (Premier 30 account), your old account will then be empty. Keep the original Standing Order running, so that £250 will continue to be fed into it. I would suggest that if your original payments were dated for the 1st of the month, just alter the Standing Order after your 12th payment to the old account, to about the 4th or 5th to avoid 13 payments going into the old account and messing it up. Your new 8.45% will now only be at 6.9%.

Yes you can open another Target Saver 3 account quite separately. This would mean therefore that you will now have 2 accounts at 6.9% and you would be paying in the maximum each month (if you wanted to), of £250 in each, i.e. £500 total.

These two accounts @ 6.9% will operate completely independently and will obviously have two entirely different account numbers.

Hope this helps. In any case, you can always call them, they are very friendly and helpful