Regular Saver Thread **New and Restarted**

schiff

schiff wrote: »

In case it's of any use:

They do a FP or a cash withdrawal over the counter up to £5000 with a minimum of 48 hours notice.

If you are are closing the account (as I am) the book etc is then sent to HO to recalculate the bonus and the remaining balance is posted by cheque. The branches can't close the account while you wait (unlike Virgin for example).

Obviously I was aiming for the earliest date for my money to be earning interest but that seemed to be the best I could achieve.

Update: visited the branch on Monday, they did a £10K faster payment (better than I had been told by phone!), the cheque for the balance with the interest and bonus added was received yesterday (Wednesday) in sufficient time to be banked the same day! I don't think that could have been bettered, so well done little Leek!
I had always looked on the Leek RS as one of my little ones but the final interest etc of £218 far exceeded anything I've ever received before on a RS, not even three figures. The benefits of £500 pm and the facility of making 21 months of deposits.

schiff

JamesRobinson48 wrote: »

That's great! But, if you want to promptly recycle your Leek proceeds into other RSAs, methinks you'll need to compromise on your oft-stated 2.50% benchmark ...

I'm having a sabbatical for the next few months, thinking about halving my mortgage and clearing some stoozes when they reach the end. The 20% tax on the top slice of my interest is a deterrent.

It'll be alright with a Corbyn majority, I'll just get a new mattress

Spir4

Apologies if this has already been asked before, but I was wondering if you can open multiple same savings accounts with an interesting interest rate, but who have a max pay in. For example the HSBC one has a rate of 2.75%, and a max pay in of £250. Can you open two of those accounts so you can basically save £500 with that same rate?

eastofeden

No, just one in the example you cite. You can, however, have several regular savers at that rate, HSBC, M and S, First Direct, Principality. You will need to research carefully the requirements for each account!

Eco_Miser

Additionally, some institutions, notably Virgin, open new issues, often with the same rate, fairly often. You can usually subscribe to each issue. but check the T&Cs.

Spir4

Thanks guys !!

Ken68

Just cashed in last of the Nationwide Regular Saver. End of an era.

quirkydeptless

Ken68 wrote: »

Just cashed in last of the Nationwide Regular Saver. End of an era.

Nationwide pulling their 5% RS was also the start of an era, as the top rate regular savers have been tumbling ever since

Ken68

Effective 2 Jan 2020 their Smart Save Monthly rate is reduced to 2.8% from 2.9% (including a 2.5% bonus).

glider3560

Ken68 wrote: »

Effective 2 Jan 2020 their Smart Save Monthly rate is reduced to 2.8% from 2.9% (including a 2.5% bonus).

Is this for the Issue 2 and for existing customers?