Regular Saver Thread **New and Restarted**

vermania

schiff wrote: »

I've had the letter asking for it back, so I've paid it back.

Looking on it as a tax saving of £9.60

Keep an eye on the details in your tax account, in one of the other active threads one person has reported that Virgin passed on the "doubled" interest value to HMRC, even though they had paid back the extra.

veryintrigued

adindas wrote: »

Does anyone still have the link about the discussion from HMRC tax on saving on this MSE. I have seen that before but I could not find it now?

Thanks

https://forums.moneysavingexpert.com/discussion/5947607/interest-details-on-hmrc-personal-tax-account-updated-to-include-how-to-access-interest-details

liamcov

KTF wrote: »

Drop it down to the 123 lite. You still get the cashback with a reduced fee then put the balance in Marcus to get the 1.5%.

Does the Lite version still give access to the 3% (I think) regular saver? Although my current one is still paying 5%.

Nick_C

liamcov wrote: »

Does the Lite version still give access to the 3% (I think) regular saver? Although my current one is still paying 5%.

Yes.......

Special_Saver2

Hi Everybody,

I have seen the post about Darlington BS Special Occasions Saver but I am not adding it to the list on the first page of this thread because the interest rate is not good enough to meet the criteria for inclusion on my list (it pays 1.75% on £250 per month for locals for 12 months). I will do another update next weekend.

SS2

---

For those new to this thread, the first few posts are constantly updated and are on the first page

datz

Special_Saver2 wrote: »

I have seen the post about Darlington BS Special Occasions Saver but I am not adding it to the list on the first page

Maybe not of much use to most people, but here are some other omissions(?) I noticed from the first page when comparing to my own notes. In the case of my own spreadsheet, I set the bar at (greater than) 1.50% for those RS that I keep an eye on.


Progressive Building Society - Children’s Clockwork Regular Saver Issue 1
- 2.65%
- £20 to £500 per month, plus an additional one-off deposit of £2000 per calendar year
- appears to have no maximum term?
- can only miss one monthly deposit per year
- one withdrawal allowed per calendar year without loss of interest
- age: under 18
- opened/managed in branch or by post
- NI residents only


Loughborough Building Society - Young Monthly Saver
- 2.00%
- £1 to £100 per month (one deposit allowed per month)
- requires 10+ monthly deposits and fewer than 2 withdrawals per account year (otherwise rate is reduced)
- age: under 16
- opened/managed in branch or by post
- available to existing members or new members resident in post codes LE, NG, DE


Marsden Building Society - Branch Regular Saver (Issue 50)
- 2.00%
- up to £250 per month
- maturity 29th Feb 2020
- minimum opening balance £25
- no withdrawals
- opened/managed in branch only
- linked account, requires a Members Reward Maturity account
- available to all UK residents


Dudley Building Society - Loyalty Regular Saver
- 2.00%
- up to £600 per month
- 12 month term
- minimum opening balance £100
- no penalty for missing months
- no withdrawals
- age: 21+
- opened/managed in branch or by post
- available to existing savings/mortgage customers (UK resident)


Dudley Building Society - Society Anniversary Saver
- 1.60%
- up to £600 per month
- 12 month term
- minimum opening balance £100
- no penalty for missing months
- no withdrawals
- age: 21+
- opened/managed in branch or by post
- can be held alongside other regular saver products
- available to new or existing savings customers (UK resident)


Dudley Building Society - Young Regular Saver
- 2.00%
- up to £350 per month
- 12 month term
- minimum opening balance £100
- no penalty for missing months
- no withdrawals
- age: 16 to 20
- opened/managed in branch or by post
- available to new or existing savings customers (UK resident)


Buckinghamshire Building Society - Regular Saver (the non-Locals version open to all UK residents)
- 1.75%
- £10 to £500 per month
- first payment has to be by cash or cheque
- age: adults and children 7+
- opened/managed in branch or by post
- available to all UK residents

JamesRobinson48

Nottingham BS has just withdrawn Special Saver Issue 7.

Special_Saver2

Thanks a lot for posting those accounts. I have to limit the number of accounts on the first page of this thread, mainly due to the character limit on the posts, but also due to the time it takes me to keep the list up to date. As you will see from the criteria on the first page of the thread, I will go down to 1.5% provided the account has particularly favourable conditions, such as fixed rate, no maturity date, allow payment of £500 or more per month, or have unlimited withdrawals without penalty.


Many of the accounts you had in your post qualify for inclusion and I have added those on the first page now, so many thanks for posting them.


SS2

datz wrote: »

Maybe not of much use to most people, but here are some other omissions(?) I noticed from the first page when comparing to my own notes. In the case of my own spreadsheet, I set the bar at (greater than) 1.50% for those RS that I keep an eye on.


Progressive Building Society - Children’s Clockwork Regular Saver Issue 1
- 2.65%
- £20 to £500 per month, plus an additional one-off deposit of £2000 per calendar year
- appears to have no maximum term?
- can only miss one monthly deposit per year
- one withdrawal allowed per calendar year without loss of interest
- age: under 18
- opened/managed in branch or by post
- NI residents only


Loughborough Building Society - Young Monthly Saver
- 2.00%
- £1 to £100 per month (one deposit allowed per month)
- requires 10+ monthly deposits and fewer than 2 withdrawals per account year (otherwise rate is reduced)
- age: under 16
- opened/managed in branch or by post
- available to existing members or new members resident in post codes LE, NG, DE


Marsden Building Society - Branch Regular Saver (Issue 50)
- 2.00%
- up to £250 per month
- maturity 29th Feb 2020
- minimum opening balance £25
- no withdrawals
- opened/managed in branch only
- linked account, requires a Members Reward Maturity account
- available to all UK residents


Dudley Building Society - Loyalty Regular Saver
- 2.00%
- up to £600 per month
- 12 month term
- minimum opening balance £100
- no penalty for missing months
- no withdrawals
- age: 21+
- opened/managed in branch or by post
- available to existing savings/mortgage customers (UK resident)


Dudley Building Society - Society Anniversary Saver
- 1.60%
- up to £600 per month
- 12 month term
- minimum opening balance £100
- no penalty for missing months
- no withdrawals
- age: 21+
- opened/managed in branch or by post
- can be held alongside other regular saver products
- available to new or existing savings customers (UK resident)


Dudley Building Society - Young Regular Saver
- 2.00%
- up to £350 per month
- 12 month term
- minimum opening balance £100
- no penalty for missing months
- no withdrawals
- age: 16 to 20
- opened/managed in branch or by post
- available to new or existing savings customers (UK resident)


Buckinghamshire Building Society - Regular Saver (the non-Locals version open to all UK residents)
- 1.75%
- £10 to £500 per month
- first payment has to be by cash or cheque
- age: adults and children 7+
- opened/managed in branch or by post
- available to all UK residents

glaister

When it the optimal time to open a regular savings account?

Is it best to open an account at the end of the month (including first payment), and then shift the subsequent payments to the start of the next month?

Or is it simply best to open an account at the start of the month?

Thanks!

Steve_xx

glaister wrote: »

When it the optimal time to open a regular savings account?

Is it best to open an account at the end of the month (including first payment), and then shift the subsequent payments to the start of the next month?

Or is it simply best to open an account at the start of the month?

Thanks!

Doing it the way you suggested sometimes allows for a 13th payment, on a 12 month deal. So there is an advantage in doing that.

However, it is the terms and conditions that apply to the individual account that you have to be aware of. Some accounts dictate that the payments into the account have to be made before say the 25th of the month.

Some accounts allow for a finite balance, so cramming a 13th payment in could cause you to breach terms.