Regular Saver Thread **New and Restarted**

Erik_V_EyeKing

Can't post a screen grab, but this is the text:

We are opening your account. Regular E-Saver Issue 13
Featured Product
1 Year Fixed Rate Cash E-ISA Isue 399
Fixed Rate of 1.40% AER1 1.40% Tax Free 3 P.A.


The sign-up page stated:
Fixed rate of
2.00%
AER1 / Gross2 P.A.

veryintrigued

The main advantage of this Virgin 13 RS over Marcus (apart from the interest rate) is that as many withdrawals can be made as you like.

Good product

polymaff

Hydro1 wrote: »

Virgin say the new Regular Saver will attract £43.75 interest after 14 monthly deposits of £250. Where am I going wrong when I calculate that money would be better off earning 1.45% in a Marcus account for 14 months?

Well, the Virgin figure is correct - maybe you have not treated the Marcus in an RS manner: £250 for X months, £250 for X-1 months, £250 for X-2 months etc. etc.


You need to compare like with like.

colsten

Erik_V_EyeKing wrote: »

Can't post a screen grab, but this is the text:

We are opening your account. Regular E-Saver Issue 13
Featured Product
1 Year Fixed Rate Cash E-ISA Isue 399
Fixed Rate of 1.40% AER1 1.40% Tax Free 3 P.A.


The sign-up page stated:
Fixed rate of
2.00%
AER1 / Gross2 P.A.

It looks as if you opened a 1 year E-ISA ?

colsten

veryintrigued wrote: »

The main advantage of this Virgin 13 RS over Marcus (apart from the interest rate) is that as many withdrawals can be made as you like.

Good product

eh? Marcus allows unlimited withdrawals, too. And lets you deposit way more than £250 a month.

It's a bit like comparing a car and an aeroplane. Both are methods of transport and both have their advantages and disadvantages. That doesn't mean one is better than the other.

polymaff

Erik_V_EyeKing wrote: »

Can't post a screen grab, but this is the text:

We are opening your account. Regular E-Saver Issue 13
Featured Product
1 Year Fixed Rate Cash E-ISA Isue 399
Fixed Rate of 1.40% AER1 1.40% Tax Free 3 P.A.


The sign-up page stated:
Fixed rate of
2.00%
AER1 / Gross2 P.A.

If you have retained a screen grab, upload it to imgur.com then post the link they give you in this thread.

Hydro1

polymaff wrote: »

Well, the Virgin figure is correct - maybe you have not treated the Marcus in an RS manner: £250 for X months, £250 for X-1 months, £250 for X-2 months etc. etc.


You need to compare like with like.

Thanks polymaff, now I get it, I wasn't comparing like with like. I was weighing up the benefit of depositing £3500 in a Marcus account for 14 months at 1.45%, against drip feeding that £3500 at £250 per month into the Virgin RS at at 2% for 14 months. I should have been clearer in my previous post.

polymaff

colsten wrote: »

eh? Marcus allows unlimited withdrawals, too. And lets you deposit way more than £250 a month.

It's a bit like comparing a car and an aeroplane. Both are methods of transport and both have their advantages and disadvantages. That doesn't mean one is better than the other.

Except that at 2% it is like comparing a car to, err, a similar car..:rotfl:


<music>Where have all the high rates gone? <\music>

polymaff

Hydro1 wrote: »

Thanks polymaff, now I get it, I wasn't comparing like with like. I was weighing up the benefit of depositing £3500 in a Marcus account for 14 months at 1.45%, against drip feeding that £3500 at £250 per month into the Virgin RS at at 2% for 14 months. I should have been clearer in my previous post.

I'd guessed as much. Good stuff, WD40!

Hydro1

polymaff wrote: »

I'd guessed as much. Good stuff, WD40!

Aye, but it tastes minging !