TSB Monthly Saver?

planteria

veryintrigued wrote: »

Are you sure?

FlexDirect was 5% on £2.5k for 1yr last i looked.

TomJ

Mimi_Arc_en_ciel wrote: »

My main account (Halifax) runs on a minimum. I have a "standard" Halifax account which I transfer my grocery shopping money and my petrol. Everything else is tided up in the TSB account (So annual bills such as car insurance etc is in there)

You do realise that you can get 5% cashback on the 1st £100 of contactless payments each month (ie up to a fiver a month back) on each of your TSB Plus account debit cards? Most petrol stations I use don't accept contactless yet, but many supermarkets do.

On the Nationwide thing; the Flex Direct acct pays 5% on up to £2500 for a year (not 2 as planteria correctly points out). It may, therefore be something to think about when your TSB Regular Saver matures; at that stage you'll have £2,200-ish in the account once interest is added, so assuming Nationwide hasn't changed the deal sticking it in there at that stage will give you another year at 5% interest.

On a fine tuning note; you would be infinitesimally better off putting the full £250 into the TSB Monthly Saver at the expense of allowing the Plus account balances to dip. The gross interest on the Plus accounts is 4.89%; 5% AER represents what would happen if a pound were left in there and monthly interest was compounded. However, as the Plus accounts don't pay interest on balances over £2k, no compounding occurs. In the monthly saver the interest is paid annually at a full 5% gross. It may only amount to in the order of a fiver a year, but ever little helps...