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First Direct regular saver account question
SouthernGuy
Posts: 175 Forumite
Hi all,
I'm currently paying off debt and then want to open a First Direct current account and save £300 per month in the regular saver to make use of the 6% interest.
My question is: Should I wait and switch when I'm ready to start paying into the regular saver each month (prob march, circumstances permitting) or can I open a current account now and get the £125 switching bonus and then still take advantage of the 6% next march when I can start saving?
Is there a time limit for the 6%?
Many thanks.
I'm currently paying off debt and then want to open a First Direct current account and save £300 per month in the regular saver to make use of the 6% interest.
My question is: Should I wait and switch when I'm ready to start paying into the regular saver each month (prob march, circumstances permitting) or can I open a current account now and get the £125 switching bonus and then still take advantage of the 6% next march when I can start saving?
Is there a time limit for the 6%?
Many thanks.
0
Comments
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There are no any time limits.0
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However, the interest rate will not last for ever. Someone waiting until February 2013 missed out on getting 8%.
HSBC, First Direct's parent bank, only pays 4%.0 -
First Direct are allegedly quite picky about who they allow to have a current account. With that in mind it might be better to wait until you've cleared that debt.SouthernGuy wrote: »I'm currently paying off debt and then want to open a First Direct current account and save £300 per month in the regular saver to make use of the 6% interest.
My question is: Should I wait ...SouthernGuy wrote: »Is there a time limit for the 6%?
There is no published limit on availability, but they do change the rate occasionally. When it dropped from 8% to 6% they withdrew the 8% account for a while, before launching the 6% account.0 -
I have a newbie question about the First Direct regular saver account.
I've just been accepted for a 1st account and e-saver with them, but would like to open a regular saver too.
My question is, what happens to the regular saver account after the 12mths? I see the money is moved into your other savings account, but is the regular saver account then closed?
Is this only a '12mth' account?
http://www2.firstdirect.com/1/2/savings/regular-savings-accountI Hate Jobsworths!!!0
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