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Regular Saver Thread **New and Restarted**

edited 16 November 2019 at 8:25AM in Savings & Investments
3.5K replies 622.7K views
15354565859352

Replies

  • greenglidegreenglide Forumite
    3.3K posts
    Part of the Furniture Combo Breaker Hung up my suit!
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    This Lloyd!!!8217;s regular saver, is it maximum 250 per month,
    The Club Lloyds regular saver is up to £400 per month.
  • edited 25 April 2018 at 12:07AM
    adindasadindas Forumite
    4.8K posts
    Ninth Anniversary 1,000 Posts
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    edited 25 April 2018 at 12:07AM
    What I am trying to do is open one regular saver per month, so in a year's time will have one account maturing each month. Therefore having the maximum amount of savings earning the maximum amount of interest, and it assists cash flow. Some months I will have two accounts opened, and maturing.

    Good if you could find a newly launched or issued RSA each month. But unfortunately this is not under your control. Wait it a few weeks, it might be that this RSA is not on offer anymore.

    IMO It is better to open it as soon as possible if a new product which meet your criteria available on the market irrespectively whether you have an old RSA will be maturing or not. If you have not got enough funding, just pay a minimum amount.

    You could use higher interest current accounts paying interest of 2%+ (say) as a temporary container if the old one mature and you have not found a new one to replace them.
  • schiffschiff Forumite
    19.6K posts
    Part of the Furniture 10,000 Posts Name Dropper
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    Westie983 wrote: »
    Try virgin they have launched lots over the last few years, I am on number 23.

    Westie983

    You've done well, I've opened them all and I'm only on 21 :)
  • arsenalboyarsenalboy Forumite
    370 posts
    Part of the Furniture 100 Posts
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    soulsaver wrote: »
    You can have the Santander RS at 3% without any 123 account.

    To get 5% on the reg saver you must be part of the 123 world.

    When I looked online it said it had to funded from a 123 current account for the 3% version?
  • AirlieBirdAirlieBird Forumite
    1K posts
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    arsenalboy wrote: »
    When I looked online it said it had to funded from a 123 current account for the 3% version?

    It has to be funded by a Santander current account, not necessarily a 123 current account.
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
  • soulsaversoulsaver Forumite
    3K posts
    Part of the Furniture 1,000 Posts Name Dropper
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    Steve_xx wrote: »
    Can you have both, simultaneously?
    AFAIK you can only have one Santander solo reg saver.
  • SephirothXSephirothX Forumite
    187 posts
    adindas wrote: »
    This comment has been going on and on. It normally comes from people who are new into this game. Thus they do not actually know how to take advantage of regular saving accounts in addition to other current/saving accounts they already have.

    I wouldn't say I'm new to the game, it just seems like 3% on a regular saver is the equivalent of putting a lump sum into a 1.5% account for a year. But thinking about it more the money I put into my regular savers tends to come from new money (my salary) so I wouldn't be able to put that lump sum into a 1.5% account anyway.

    One problem I do have though is the £7200 that is coming out of my Club Lloyds and Santander regular savers this week. £5000 can live in Club Lloyds at 2% until July but I'm not sure what to do with it after that, or the remaining £2200. Tempted to overpay my mortgage as my mortgage rate is 2.14%.
  • arsenalboyarsenalboy Forumite
    370 posts
    Part of the Furniture 100 Posts
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    SephirothX wrote: »
    I wouldn't say I'm new to the game, it just seems like 3% on a regular saver is the equivalent of putting a lump sum into a 1.5% account for a year. But thinking about it more the money I put into my regular savers tends to come from new money (my salary) so I wouldn't be able to put that lump sum into a 1.5% account anyway.

    One problem I do have though is the £7200 that is coming out of my Club Lloyds and Santander regular savers this week. £5000 can live in Club Lloyds at 2% until July but I'm not sure what to do with it after that, or the remaining £2200. Tempted to overpay my mortgage as my mortgage rate is 2.14%.


    A regular saver is 12 monthly payments, not a lump sum. You are earning interest elsewhere on the money "within" the year before it hits the regular saver.:(:(
  • polymaffpolymaff Forumite
    3.2K posts
    Eighth Anniversary 1,000 Posts
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    SephirothX wrote: »
    I wouldn't say I'm new to the game, it just seems like 3% on a regular saver is the equivalent of putting a lump sum ...

    Do you ever take back tins of white paint, complaining that they're not quite black enough?

    Regular Saver and Lump Sum Deposit are the black and white of savings.
  • SephirothXSephirothX Forumite
    187 posts
    arsenalboy wrote: »
    You are earning interest elsewhere on the money "within" the year before it hits the regular saver.:(:(

    That's actually a good point, I didn't look at it that way. :)
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