N & P classic gold account & 4% reg saver

vixen1500

Hi,
just wondering if anyone has been able to open these account if they have already held them in the past.
Not had any accounts with the since 2014 so wondering if it is possible to reapply this year.

Thanks

Archi_Bald

You cannot open a new Gold Savings Account after it has been transferred to Easy Plus

http://www.nandp.co.uk/savings/regular-savings/gold-savings-account/?view=Standard

Sounds pretty clear to me.

veryintrigued

Some on here dont consider 4% to be a very good return for a regular savings account anyway (even if they're tax free!!) so you've probably had a close shave Vixen!

msallen

Hmm, I'd never heard of this, so thanks for the heads up - I might as well use one to the max allowed of these rather than leave cash sitting in a 3% account. However, to answer your question see the "Product Info" tab at the link provided by Archi Bald...

How does it work?

• 
  Your Gold Savings Account is linked to your Gold Classic Current Account.
• 
  To get the special rate this account offers, you just have to save between £20 and £250 into your Gold Savings Account every month (as well as at least £500 into your Gold Classic Current Account every month).
• 
  Your Gold Savings Account is limited to 12 months.
• 
  You can only ever have one Gold Savings Account.

Archi_Bald

msallen wrote: »

Hmm, I'd never heard of this, so thanks for the heads up - I might as well use one to the max allowed of these rather than leave cash sitting in a 3% account.

There are a whole host of good Regular savers, with HSBC, FDD and M&S leading the pack with 6% AER. https://forums.moneysavingexpert.com/discussion/comment/6932895#Comment_6932895

However, all of these accounts have limits on the amount you can deposit each month, and the vast majority require you to lock up the money for 12 months. The vast majority also do allow you to start a new regular saver upon maturity of the old one.

Drip-feeding money from e.g. a 3% current account into a 6% AER can be quite rewarding. See calculator.

Presumably you are also aware that there are 4 and 5% AER current accounts?

msallen

Yes thanks Archi Bald - I've already got all the rest*, but I have the surplus sat in a number of 3% accounts.

(* Except the M&S, but that only launched after I'd swiched to and then away from them, so I don't think I'd be very popular right now if I applied for another current account with them to get access to that)

vixen1500

Archi_Bald wrote: »

However, all of these accounts have limits on the amount you can deposit each month, and the vast majority require you to lock up the money for 12 months. The vast majority also do allow you to start a new regular saver upon maturity of the old one.

This is exactly why I asked - but thanks for your help

vixen1500

msallen wrote: »

Hmm, I'd never heard of this, so thanks for the heads up - I might as well use one to the max allowed of these rather than leave cash sitting in a 3% account. However, to answer your question see the "Product Info" tab at the link provided by Archi Bald...

Well if my question has been of help to you it was worth asking after all

vixen1500

veryintrigued wrote: »

Some on here dont consider 4% to be a very good return for a regular savings account anyway (even if they're tax free!!) so you've probably had a close shave Vixen!

No you are quite right - myself included - but it is a struggle nowadays to find somewhere paying above 3%.

The ISA rates are just - well lost for words

Archi_Bald

msallen wrote: »

.

(* Except the M&S, but that only launched after I'd swiched to and then away from them, so I don't think I'd be very popular right now if I applied for another current account with them to get access to that)

Give it a try. I did exactly the same and there was no problem. I applied for the current account online. Once it showed in my online banking (which I still had access to), I put £250 in and rang them to set up the Regular Saver.