Regular Saver Thread **New and Restarted**

Poor_Leno

Eco_Miser wrote: »

all for £10 - £12 above what I'd get leaving the money in Marcus at 1.5%. So, thanks, but no thanks.

I wonder if there'll be in in-branch issue 20 in December?

Are you sure about these figures ?

3250 drip fed from Marcus @250 per month over the 13 month term earns 24.37 interest just from the drip feed + 56.87 from the money transferred into the RS over that time. That is a total of 81.24 interest earnt for the same pot of money that would earn 52.81 being just left in the Marcus.

I guess if there's a distance involved in opening and setting up the account then I agree it'd seem worthless to spend half a tank of fuel in the process ... But if you're near a branch then almost £30 extra interest would be worth it.

RG2015

Poor_Leno wrote: »

Are you sure about these figures ?

3250 drip fed from Marcus @250 per month over the 13 month term earns 24.37 interest just from the drip feed + 56.87 from the money transferred into the RS over that time. That is a total of 81.24 interest earnt for the same pot of money that would earn 52.81 being just left in the Marcus.

I guess if there's a distance involved in opening and setting up the account then I agree it'd seem worthless to spend half a tank of fuel in the process ... But if you're near a branch then almost £30 extra interest would be worth it.

This discussion is about the new Virgin Money online regular saver at 2% pa not the 3% branch only account.

Poor_Leno

ah ok, my apologies. As you were folks

YorkshireBoy

Eco_Miser wrote: »

...all for £10 - £12 above what I'd get leaving the money in Marcus at 1.5%. So, thanks, but no thanks.

But surely the days of the underlying 1.35% variable rate must be numbered? And the Virgin rate is fixed.

polymaff

Eco_Miser wrote: »

all for £10 - £12 above what I'd get leaving the money in Marcus at 1.5%.

YorkshireBoy wrote: »

But surely the days of the underlying 1.35% variable rate must be numbered? And the Virgin rate is fixed.

Nevertheless, it is all pretty meagre, isn't it?

To put it into context, the saving Mrs P makes by buying 20 nectarines at Tesco instead of at Sainsbury's is just about the same as EcoMiser's computed gain...:(

EDIT: 12 nectarines for a higher-rate tax-payer...:)

MDMD

YorkshireBoy wrote: »

But surely the days of the underlying 1.35% variable rate must be numbered? And the Virgin rate is fixed.

Also don’t forget the Virgin RS used to have a standard 2.25% rate (which isn’t a million miles from 2%) and we all used to get excited over those! If you can set up a RS ”ladder” at 2% the £10-£12 is per account.

I think on balance as I already have a virgin online account I will go for it and not think too much - but will have to open a few of the Other 2% ones that are around now.

Slightly surprised as I thought CYBG were meant to be decommissioning the virgin online platform and moving everyone to the B system. Probably trying to avoid a TSB style meltdown

glider3560

veryintrigued wrote: »

The Virgin RS massive hijack this thread again.

:-)

I've stopped reading this thread since there was speculation of a new Virgin RS. Can't believe the excitement over an account paying 2%!

Yorkshire_Pud

Glad the Virgin RS is back, 14 months per account, hopefully a new issue every two months and instant access if required, quick to open each issue, the knowledge you have an issue maturing every two months. Works for me!:p

2% rate a bit dissapointing but in six months time it will probably seem pretty good.

Addendum reading the dedicated Virgin RegE Sav12 thread the double interest anomaly was finally fixed, so those hoping for the extra will be dissapointed! So its a flat 2% now. A lot less appealing.

Special_Saver2

Hi Folks,

I have completed this weekend's update. I have removed the branch based Virgin Money saver that has been withdrawn and added the new Virgin Money E-Regular Saver.

I will do the next 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

abz88

alexnnnu wrote: »

Hi everyone,

Dumb question: I had one of the Nationwide regular savers at 5% which has just expired, should I open this new Virgin one or the Coventry one? Or even both? Pros/Cons? I am planning on maybe moving the money from the Nationwide into a different one but feed the RS from my salary (as much as I can?). Ta

You could also look at switching the Nationwide current account to the M&S one and get the 5% regular saver that goes with it (if you don't already have it) or HSBC and First Direct paying 2.75%. Then there are local building society savers (depending on where you live) that will pay 3% and Yorkshire Building Society still have an online RS that pays 2.5% (so higher than Virgin).