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Regular Saver Thread **New and Restarted**

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  • colsten
    colsten Posts: 17,597 Forumite
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    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
    RG2015 Posts: 5,921 Forumite
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    edited 22 October 2018 at 4:26PM
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    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
    ColdIron Posts: 9,171 Forumite
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    Club Lloyds Monthly Saver, £400 pcm at 3%
  • RG2015
    RG2015 Posts: 5,921 Forumite
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    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
    polymaff Posts: 3,905 Forumite
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    edited 22 October 2018 at 5:22PM
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    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
    colsten Posts: 17,597 Forumite
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    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
    colsten Posts: 17,597 Forumite
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    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 Posts: 5,921 Forumite
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    edited 22 October 2018 at 5:59PM
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    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
    polymaff Posts: 3,905 Forumite
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    edited 22 October 2018 at 7:03PM
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    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.
  • madlyn
    madlyn Posts: 1,027 Forumite
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    WOW, I thought I was a bit clued up on money but how wrong I was. Such a lot to take in.
    SPC 037
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