Regular Saver Thread **New and Restarted**

schiff

madlyn wrote: »

Oh I see.
That I didn't realise, I could deposit my 2k throughout the rest of the year then?

Into the regular saver, yes. That way you maximise the interest on the lot

colsten

RG2015 wrote: »

You cannot deposit £2k into a regular saver and then add to it. The most you can deposit per month is £300 and some have a ceiling of £200 per month, Have a read of the MSE page linked in an earlier post.

Actually, it's £500 max in some regular savers.

RG2015

colsten wrote: »

Actually, it's £500 max in some regular savers.

Thanks.

I have just checked and the only one I could find offering 3% or more is Kent Reliance.

I have also remembered that the NatWest regular saver has no maximum monthly monthly deposit but it does only give 1.5% on balances up to £10,000.

ColdIron

Club Lloyds Monthly Saver, £400 pcm at 3%

RG2015

ColdIron wrote: »

Club Lloyds Monthly Saver, £400 pcm at 3%

Thanks.

That's also good to know but I was only looking for £500 max as per Colsten's post.

polymaff

madlyn wrote: »

Oh I see.
That I didn't realise, I could deposit my 2k throughout the rest of the year then?

The clue is the word REGULAR. You fund a Regular Saver - regularly. By the way, the most efficient way to fund a Regular Saver is from Regular Income. If you must do it from a lump sum, then make sure that that regularly-decreasing lump sum is in an interest-bearing account.

colsten

RG2015 wrote: »

Thanks.

That's also good to know but I was only looking for £500 max as per Colsten's post.

You have found one, KRBS. Principality BS and Scottish BS also take up to £500/mth. There might be others.

colsten

polymaff wrote: »

The clue is the word REGULAR.

To many people, this means "normal", as in "he's just a regular bloke". So they are associating a Regular Saver with some sort of a no-frills, "normal", savings account. Which is, as we know, an incorrect association.

RG2015

RG2015 wrote: »

I have just checked and the only one I could find offering 3% or more is Kent Reliance.

ColdIron wrote: »

Club Lloyds Monthly Saver, £400 pcm at 3%

RG2015 wrote: »

That's also good to know but I was only looking for £500 max as per Colsten's post.

colsten wrote: »

You have found one, KRBS. Principality BS and Scottish BS also take up to £500/mth. There might be others.

My mistake in not making my search clear. To clarify, I was only looking for greater than £500 month and at least 3%.

polymaff

colsten wrote: »

To many people, this means "normal", as in "he's just a regular bloke". So they are associating a Regular Saver with some sort of a no-frills, "normal", savings account. Which is, as we know, an incorrect association.

My dictionary describes that interpretation as origin: U.S. and Canadian, informal, so I have no excuse for not thinking of that. Time for you Limeys to brush up your English, though

Incidentally, I wonder how long regular accounts have to run? They've a similar origin to ISAs - but the shine seems to have gone off ISAs a lot faster than it has off regular savers. Mind though, it seems like only yesteryear that HSBC were offering 10% regular savers.