M&S, HSBC and First Direct cutting interest on regular savings accounts to 5%

YorkshireBoy

joe134 wrote: »

When bonus runs out, can I stop the monthly payment

Yes.

and still subscribe to r/s?

Possibly, depending on your eligibility. See the first sentence on this page...

http://bank.marksandspencer.com/banking/current-accounts/existing-customers/#monthly-saver

joe134

YorkshireBoy wrote: »

Yes.Possibly, depending on your eligibility. See the first sentence on this page...

http://bank.marksandspencer.com/banking/current-accounts/existing-customers/#monthly-saver

Thanks YB,Seems I can stop the monthly payments, and retain the Rs , but have to keep the 2 DD,s going.:beer:

katejo

Pincher wrote: »

Started a 6% RS on 2nd September 2016 with First Direct.

Last of a Dying Breed, eh?

Was there a three year 6% Bond from Nationwide? Was Luke SkyWalker real? Did Jesus make good wine, or cheap Spanish plonk?

Yes I started one with FD just before you (end of August).

Maximum_Saving

I opened a First Direct 6% interest regular saver in November 2015. I am so sad to see if I took out another the interest rate would be 5%. My First Direct regular saver money that was from 2014 to 2015 I put into a 5% Classic Plus Account with TSB. I also opened a Monthly Saver for that money with TSB. In the new year TSB is reducing interest as well.

Mr_K

Maximum_Saving wrote: »

I opened a First Direct 6% interest regular saver in November 2015. I am so sad to see if I took out another the interest rate would be 5%.

Why be so sad? Even if you put the max £300 in each month, the difference in interest over the year is only £19, hardly life changing.

ffacoffipawb

adindas wrote: »

Do you have any onion what funds to look at ??

AlwaysLearnin wrote: »

That question has a number of layers to it....

It will all end in tears.

darkidoe

I am finally getting round to opening the last of the the trio top rate regular saver with M&S. Excited!

Mr_K wrote: »

Cutting the interest rate from 6% to 5%, only make s a £15 a year difference on max. subscriptions to HSBC - goes to show what a waste of time Regular Savers are. Peanuts in the end.

Look to drip feed into the stock market if you want returns long term.

I use regular savers to save for the following year's ISA allowance, so that I can always plan ahead and save ahead for future. It does maximizes cash saving rates as well!!