Regular Saver Best Time to open / deposit for optimum interest

bongoali

badger09 wrote: »

On a slightly different note, if you're planning to open several Regular Savers, I would stagger them so that they don't all mature at the same time.

That's assuming you're not saving for something specific in approx 12 month's time;)

Stagger them because it's going to be a b***h going though all this again at the same time?

Pincher

Now that you get £1,000 tax free interest, it's worth timing it so you don't go over the limit for each tax year.


For example, if an account matured in March 2016, do I start another one straightaway, or do I wait until after 6th April 2016, so that the interest is paid in 2017/18, instead of 2016/17?

badger09

bongoali wrote: »

Sorry another question.. can you fund a RS by a single deposit from a current account with a different bank and different name on the account?

Depends on the T&C of the particular RS

badger09

bongoali wrote: »

Stagger them because it's going to be a b***h going though all this again at the same time?

Not really. Mainly because if they all mature at the same time, you could be looking for a home for many £000s, which is tricky if you're already using all the decent (3%+) accounts:cool:

Most, but not all, of the better paying Regular Savers have been around for more than a year. AFAIK, they have all allowed you to open another once your current RS has matured. Obviously, there is no guarantee that the same rate will be offered:(.