Regular Saver Thread **New and Restarted**

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- Furness BS Lifestyle Saver withdrawn and removed from post 2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

badger09

Special_Saver2 wrote: »

Hi Folks,




- 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

Hi SS2

Sorry to add to your work, but for most of us, the Tesco current account rate doesn't drop to 1% until 14 June. The earlier drop applies only to accounts opened [STRIKE]fairly recently. I'll check date & post back unless someone else knows[/STRIKE]. since 1st March

Thanks for all your hard work on this.

Father_Christmas

RSNut wrote: »

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.

Do you have to have an appointment to open the virgin regular saver or can you open over counter? I assume if make an appointment they’ll try to sell me mortgages and all sorts.

Steve_xx

Father_Christmas wrote: »

Do you have to have an appointment to open the virgin regular saver or can you open over counter? I assume if make an appointment they’ll try to sell me mortgages and all sorts.

Ive always had to make an appointment to open a regular saver.

Nasqueron

Father_Christmas wrote: »

Do you have to have an appointment to open the virgin regular saver or can you open over counter? I assume if make an appointment they’ll try to sell me mortgages and all sorts.

I went in on a Monday morning off the street and they let me do it fine. Conversely I couldn't open a Nottinghamshire BS regular saver off the street but others have done it fine

schiff

I've had £41.21 credited to the account my SO comes from for Virgin 10 that matures on 20 April. No indication on Virgin's website why but the site suddenly went down - 'no access to accounts'!

Anyone else?

schiff

Father_Christmas wrote: »

Do you have to have an appointment to open the virgin regular saver or can you open over counter? I assume if make an appointment they’ll try to sell me mortgages and all sorts.

The simple answer really is to make an appointment.

Once they know who you are you'll probably get a mince pie and a glass of sherry too!

ColdIron

schiff wrote: »

I've had £41.21 credited to the account my SO comes from for Virgin 10 that matures on 20 April. No indication on Virgin's website why but the site suddenly went down - 'no access to accounts'!

See the Virgin RS thread, post #109 onwards

https://forums.moneysavingexpert.com/discussion/5882970/virgin-money-rs-maturity&page=3

solartom

Virgin Money in Store RS Issue 16

appointment made