Regular Saver Thread **New and Restarted**

Sea_Shell

Sweetcake wrote: »

Oh wow! Amazing. Haha, well I'm not quite near pension age (I'm 25), but I'm saving to buy and I use multiple regular savers to store and maximise interest , which I then plan to put (at least some) into my LISA to meet 4k limit at end of the tax year...


I do like the idea of what you do though..I'm thinking of doing the same (but not for a pension)


Interesting. So do you have regular standing orders into the accounts then? And when you say re-stocks your accounts, could you elaborate please?

Yes we have standing orders set up so pretty much automatic. We have various interest paying accounts, (as we've been playing "THE GAME" *) So we're constantly moving money to the best account with "room" up to each's limits.


And did you only do this when you were saving towards pension OR did you always use regular savers this way?

We've done RS's for a few years now, but only really got into them since joining here and finding out about all the available deals.

* If you want more advise regarding all the options available...have a read of the Savings threads, or start a new thread. We don't want to clog this thread up. ;)

System

Sea_Shell wrote: »

We've done RS's for a few years now, but only really got into them since joining here and finding out about all the available deals.

* If you want more advise regarding all the options available...have a read of the Savings threads, or start a new thread. We don't want to clog this thread up. ;)

Hey, sure. Tbh I'm pretty much a RS expert myself too now haha, and have automatic SO's too, so I'm all sorted on that. was just interested to find out . TA.

lindez

Sea_Shell wrote: »

We've all the available issues at the moment, on a rolling 12 month basis, so we have them maturing every 2 months. This then re-stocks other accounts and makes pension contributions. It's all about maximising interest on our cash, which will gradually run down, as we enter our "draw-down" phase.

How do they mature every two months, sorry if this appears stupid, is it that the RS are set up two months apart. thank you

Sea_Shell

lindez wrote: »

How do they mature every two months, sorry if this appears stupid, is it that the RS are set up two months apart. thank you

Yes, with Virgin, they are usually launched on the odd months, and mature on even months, so we have issues 6,7,8,9,10,11 and now 12.

Westie983

Yay for another Virgin account just in time to replace Branch Issue 5 maturing in a few weeks...

They mature every two months, and sometimes twice a month on the 1st for Branch Issues and 20th for online, so can be quite good to get a lump sum not only every two weeks but also twice a month..

Off to open Issue 12

Westie983

lindez

Sea_Shell wrote: »

Yes, with Virgin, they are usually launched on the odd months, and mature on even months, so we have issues 6,7,8,9,10,11 and now 12.

Thank you,
Hope you don,t mind me asking another stupid question can a person open one online and one in branch and therefore have two accounts running at the same time.
Thanks

molerat

lindez wrote: »

Thank you,
Hope you don,t mind me asking another stupid question can a person open one online and one in branch and therefore have two accounts running at the same time.
Thanks

Yes, no problem.

liamcov

If I opened and funded the normal Lloyd’s regular saver today can I fund it again on 1 August?

ColdIron

Yes you can, so 13 deposits in total

veryintrigued

mhoc wrote: »

And as we expected the letter from Leeds Building Society arrived this morning regarding RegularSaver (issue 4) giving us six months notice, finally date is 1st February 2019.

maxiumum amount you can now save is up to £7250 plus any interest earned but there are penalties for going over this amount

From September 1sts the interest is now 2.55% and unconditional - bonus is included.

So another £1500 can go into the account in the next 6 months. I've marked the calendar and altered my standing order.

I now have 3 maturing in January and 4 in February and of those at the moment only 2 have on going regular savers to replace them. I might have to go back to little one and 2 year fixed rate bonds next year

Already covered in its own thread.

https://forums.moneysavingexpert.com/discussion/5783648/leeds-building-society-regular-saver-issue-4

This thread is for current and new RS only else it takes,the currently holidaying, SS an age to read through when they are doing their greatly appreciated updates.