The "Save 12k in 2016" Thread!

Maximum_Saving

My main current bank account is with First Direct. Due to having that I have a 6% interest Regular Saver . I have a TSB Classic Plus Account that pays 5% interest and I have not long ago I began a TSB Monthy Interest account also paying 5% interest.

I am trying to overpay my mortgage and so that is where most of my money goes. In the future I have an idea to begin a Nationwide Regular Saver as I began a current account with them. I keep a low amount of money in that bank account so I can easily pay extra for my mortgage.

nat21luv

Ok, so I've taken the leap and switched bank accounts from FD to M&S bank. I'll get £220 in vouchers and a 6% savings account so about £94 interest. That's christmas sorted!

Eco_Miser

Tea&Biscuits wrote: »

I'm a bit stuck with finding another reg saver, or current account (or both) that will pay me 5%. I don't have much disposable cash each month to be depositing the amounts some of these banks want..... Any ideas?

Nationwide for both current account and Regular Saver.
Don't worry about the minimum funding requirements, you can circulate the same money through all of them, ending up back where it started.
For reference, here's all the worthwhile accounts

bobobski

nat21luv wrote: »

Ok, so I've taken the leap and switched bank accounts from FD to M&S bank. I'll get £220 in vouchers and a 6% savings account so about £94 interest. That's christmas sorted!

It'll be more interest than that due to the tax changes in April, although I haven't done the sums yet if it were a full year at the full 6% it'd be around £115 interest but it's 3 months at 4.8% (pa) plus 9 months at 6% (pa). And since it's a regular saver it's the earlier (smaller sums) months that are at lower interest :beer:

gwyneth_valiant

I wanted to join this last year, but discovered it too late! I am an avid reader of the 2015 thread though

Count me in for £8k please.

ahX

I'd like to sign up if it's not too late! I'll be aiming for 12k but my realistic target is £11,600.

[Deleted User]

Another £200 put across to my regular saver this month - total now £300. Hoping to be able to put a little more across by the end of the month.

Tea&Biscuits

Being thick here I know.

When an account has minimum pay in of £1000, could I deposit £500, withdraw it and deposit it again the next day to qualify?

Westie983

Tea&Biscuits wrote: »

Being thick here I know.

When an account has minimum pay in of £1000, could I deposit £500, withdraw it and deposit it again the next day to qualify?

of course, you can pay it straight back in if you wish, you dont have to wait till the next day.

slowlyfading

Suffolk_lass wrote: »

I am guessing you want the google doc updates after the 31st to let you update the master sheet?

That way, or whenever you think you've saved what you'll manage within a month, if that makes sense?