Regular Saver Thread **New and Restarted**

LoulaBelle

Hi - is there a thread on childrens regular savings accounts please?

xylophone

https://www.moneysavingexpert.com/savings/child-savings-tax-free/

Top children's regular savings accounts in above.

RSNut

For those waiting in eager anticipation Virgin Regular Saver Passbook Version 16 will be available in store Monday 1st April from 2.00 pm. Similar to last Version 15, deposits £250 per month, 3% interest .

May be worth arranging appointment for maturing Passbook Version 9 due from 1st April to coincide with opening new account.

aj23_2

StevenGude wrote: »

I opened my nationwide 5% regular saver on 18th March and made my first deposit. When should I make my second one - 18th April? 19th?

You can set it up to take whenever you want in the month. Unlike FD which takes it on the same day each month regardless.

vixen1500

My Halifax and bank of Scotland 2%reg savers have just matured but rather than opening new and drip feeding from a 1.5% current account surely it makes sense to just put the money in an ISA or 1year fixed rate bond.

Doing that, according to my maths is a better option - unless I have misunderstood something

glider3560

vixen1500 wrote: »

My Halifax and bank of Scotland 2%reg savers have just matured but rather than opening new and drip feeding from a 1.5% current account surely it makes sense to just put the money in an ISA or 1year fixed rate bond.

Doing that, according to my maths is a better option - unless I have misunderstood something

Depends what rate the bond is paying. Roughly anything more than 1.75% would pay more interest than a 1.50% current account plus 2.00% regular saver.

Steve_xx

vixen1500 wrote: »

My Halifax and bank of Scotland 2%reg savers have just matured but rather than opening new and drip feeding from a 1.5% current account surely it makes sense to just put the money in an ISA or 1year fixed rate bond.

Doing that, according to my maths is a better option - unless I have misunderstood something

I reckon you're better off with an 18 month fix with Al Rayan @ 2.32% rather than dripping regular savers paying less than say 3%

polymaff

Regular Savers have always been optimally funded from regular income. After all, they're the legacy of the old SAYE accounts from 50 years ago.

Drip-feeding is far more iffy. If you approximate that the return will be the average of the two rates then you are only trying to beat 1.75% for a year.

Frogletina

polymaff wrote: »

Regular Savers have always been optimally funded from regular income. After all, they're the legacy of the old SAYE accounts from 50 years ago.

Drip-feeding is far more iffy. If you approximate that the return will be the average of the two rates then you are only trying to beat 1.75% for a year.

I loved my old SAYE account, but mine wasn't as long ago as 50 years. I remember saving £10 a month over 5 years. It matured just at the right time as I needed it to help pay the mortgage when my income was low

frogletina

Special_Saver2

Hi Folks,

Here is this weekend's update.

- Furness BS Lifestyle Saver withdrawn and removed from post 2


- Chorley BS Children's Regular Saver (2.25%) no longer has a maximum balace and no longer comes with a free piggy bank


- I started to add the Chorley BS Future Saver to post 3 but then realised it is not a regular saver. It is similar to the Children's Regular Saver paying 2.15% on up to £25,000 (which I believe you could do as a lump sum) but you can only withdraw money if the child dies (yikes!) or reaches age 16 or the interest rate drops


- Dudley BS Society Anniversary Saver (which I think has no maturity date, so added to post 2) paying 1.6% on up to £600 per month for people aged over 21, can be opened by post



- Dudley BS Society Young Regular Saver (which I have added to post 3 in case you have to transfer the account when the account holder reaches age 21) paying 2% on up to £350 per month for people aged 16-20, can be opened by post, cannot be opened if you already have another regular savings account with



- Tesco current account (feeder account, post 9) updated to show the interest rate has dropped from 3% to 1%




I will do another update next weekend.

SS2

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