Derbyshire BS launch regular saver - 8.00%

Speculator

Just a thought. If you have the old Regular Saver, the bonus/interest has just been paid (31 Jul) and the account year for this account runs from Aug 1 to 31st July. You are allowed one penalty free withdrawal per account year from this account so why not transfer £250 from this account to open the new Loyalty Saver.

Better still, transfer the £250 and close it.

Old_Slaphead

Can't find details of the new RS on DBS website - anyone got the link?

Kazza242

Old_Slaphead wrote: »

Can't find details of the new RS on DBS website - anyone got the link?

Information about this account isn't up on the Derbyshire website because the account is only avaialable to existing customers.

I expect that Derbyshire will write to existing members at some point to notify them of this new account. The letter might include the direct web link to the Loyalty Saver - as Derbyshire did when they first launched their 1 year fixed rate regular saver.

Kazza242

Speculator wrote: »

Just a thought. If you have the old Regular Saver, the bonus/interest has just been paid (31 Jul) and the account year for this account runs from Aug 1 to 31st July. You are allowed one penalty free withdrawal per account year from this account so why not transfer £250 from this account to open the new Loyalty Saver.

Better still, transfer the £250 and close it.

That's a good idea. I usually remove surplus funds from the Derbyshire RS accounts just after August 1st keeping at least £100 in there continually. Though I have money in other accounts that I could use to fund this new regular saver - also 5 regular savers maturing over the next couple of months.

djblamire

Old_Slaphead wrote: »

Never thought I'd say this but good old DBS - 2 x 8% RS coming up

Are you sure you can open more than one account ?

Thanks
Daniel

Kazza242

djblamire wrote: »

Are you sure you can open more than one account ?

Thanks
Daniel

Old Slaphead probably meant that he's going to open an account for himself and one for his spouse/partner.

Kazza242

Old_Slaphead wrote: »

Can't find details of the new RS on DBS website - anyone got the link?

Details about the Loyalty Saver have now been added to the Derbyshire website. Click the link below:

Derbyshire BS Loyalty Saver

Speculator

The maximum monthly deposit is £250 but on the website, it states...

The amount of the monthly payment can be varied but must be at least £10 and no more than £1,000.

Speculator

Just called them, it's an error and should read £250, not £1000. The £1000 limit is for their other Regular Saver.

Also, I sent them my application yesterday and it has already been opened!

Careful_ly

"I was told the same when I called Derbyshire this morning - but I haven't had time to post further until now. I was also told that, once savers had opened an account they would automatically start earning the next highest rate available - once the required number of months of membership was reached.

E.g. a saver has been with the Derbyshire for 95 months so qualifies for the 7.25% rate. After two months the saver will automatically begin being paid 7.50%, as he/she will then have been a Derbyshire member for 97 months.[/quote]"

Quoted from post 11 on this thread.
not done quote correctly, so not showing how I would have expected.Sorry


Hi Regular saver fans,

I was about to open one of these accounts 2 weeks before passing from one band to the next, and was advised to wait.
I have checked with another branch too, and it seems that once the account is opened then the rate is fixed for 12 months. The staff choose the rate to be paid from a drop down menu on screen at time of opening.

This is not what Kazza was told in August but perhaps the staff have been updated on this sometime between then and now.

HTH :beer: