Regular Saver Thread **New and Restarted**

Westie983

Its getting quite scary -

I checked and I have maturity of regular savers each month till February 2019

Feb - Virgin
March - Santander
April - Virgin, Kent Reliance
May - Chorley, Ford,
June - Virgin
Jul - Halifax
Aug - Virgin
Sep - HSBC, First Direct,
Oct - Virgin
Nov -
Dec - Virgin, Nationwide,
Feb - Virgin

With ongoing Leeds issues and Buckinghamshire, so who knows when they will stop allowing me to pay in.

Regular Saver addiction, Thanks mostly to Virgin as i'm holding 13 issues :-)

Westie983

stoozie1

Westie983 that's the strategy I've just started to adopt (I'd previously had all my RS maturing at end of financial year, ready to stuff pensions and ISAs, but realised this wasn't best).

Can I ask what the thinking is behind the months which payout 2 matured RS?

Westie983

stoozie1 wrote: »

Westie983 that's the strategy I've just started to adopt (I'd previously had all my RS maturing at end of financial year, ready to stuff pensions and ISAs, but realised this wasn't best).

Can I ask what the thinking is behind the months which payout 2 matured RS?

Virgin have two issues one branch and one online that both mature on the same month.

The months that have two was because of the virgin accounts, and when I have things to pay out.

So nationwide and Virgin pay out in Dec ready to use for Christmas.

Kent matures ready for the new tax year and the others just fit in, and opened as if I waited the rates may have changed, (HSBC and FD mainly)

Just finding the money to keep them all going is tough, but the money gets filtered back into Virgin (if they keep offering new issues)

Westie983

EachPenny

Westie983 wrote: »

Its getting quite scary -

Scary that you have nothing maturing in November... what are you going to do for money that month?

Mine are more 'lumpy'. I have up to four maturing in some months, others there's nothing, but when I opened them it was a case of opening them asap to start earning, rather than having a more even spread.

At the current rate hopefully I'll have drawn down several interest paying current accounts before the Tesco DD issue kicks in.

Hydro1

I have been funding a few Virgin RS each month. Virgin say that an account fully funded with 14 monthly payments of £250 will earn £49.22 interest. If my sums are correct, I would be marginally better off abandoning the RS and leaving my money in a Tesco Internet Saver paying 1.35% or a Post Office Saver paying 1.30%. Am I missing something, like a decent calculator ?

glider3560

Hydro1 wrote: »

I have been funding a few Virgin RS each month. Virgin say that an account fully funded with 14 monthly payments of £250 will earn £49.22 interest. If my sums are correct, I would be marginally better off abandoning the RS and leaving my money in a Tesco Internet Saver paying 1.35% or a Post Office Saver paying 1.30%. Am I missing something, like a decent calculator ?

You're forgetting that your money will be in another account for half the year before going into the regular saver.

A common misconception on here...!

Hydro1

So the good news is the calculator is fine, the bad news is the brain is muddled !

veryintrigued

This thread has turned into the 'chatty Regular Saver thread' rather than just highlighting genuine new issues or changes.

Let's hope it doesn't get marked as Spam and disappear again!

Ashen

I accidentally paid in £200 to my Saffron RS when there had already been a deposit of £200 this month from renewing it after it matured - does anyone know what would happen in this situation?

Westie983

EachPenny wrote: »

Scary that you have nothing maturing in November... what are you going to do for money that month?

Mine are more 'lumpy'. I have up to four maturing in some months, others there's nothing, but when I opened them it was a case of opening them asap to start earning, rather than having a more even spread.

At the current rate hopefully I'll have drawn down several interest paying current accounts before the Tesco DD issue kicks in.

It will be okay as Ill have two maturing 1st December :-P

Westie983