Santander Regular Saver 5% (123 customers)

Westie983

EachPenny wrote: »

A 123 Credit Card (if you still have one ) also qualifies you for the 5% RS rate.

I did have one when I had a offer to refund the annual fee, closed it when 0% ended and account annual fee was £24.00

Now it’s just £12 but I get little cash back with some of my direct debits. Just keeping it open for the RS.

Had a phone call yesterday from Santander inviting me in to discuss my RS I said I know it matures next week cant I open a new one online when it matures, he said yes so no need to come in and waste an appointment!! He swiftly put the phone down...

Westie983

mary

polymaff wrote: »

@Mary:

How about a Tesco Internet Saver, 1.30% - available today. With that account my order of return-per-mandate stays the same. Even with a pathetic 0.9% there's little difference. Hope the notes made sense.

Thanks for that. I do have 2 Tesco Internet Saver accounts and have had for quite some time. Just checked the rate is currently 0.55%. Will have to investigate if I am eligible to have the one advertised as well for 1.3%

polymaff

mary wrote: »

Thanks for that. I do have 2 Tesco Internet Saver accounts and have had for quite some time. Just checked the rate is currently 0.55%. Will have to investigate if I am eligible to have the one advertised as well for 1.3%

I don't think that you'll have a problem - I've got 5 Tesco Internet Savers open at present.

In fact, with the mass exodus thay will occur from these acounts come 22/04/18, they'll probably lay out the red carpet for you

RG2015

mary wrote: »

Thanks for that. I do have 2 Tesco Internet Saver accounts and have had for quite some time. Just checked the rate is currently 0.55%. Will have to investigate if I am eligible to have the one advertised as well for 1.3%

The 1.30% is made up of standard rate 0.55% and a 12 month bonus of 0.75%. If the Bank of England raise the base rate Tesco may well increase their basic rate as they did after the last rate hike in Nov 2017. The Bank raised the base rate by 0.25% and Tesco raised their standard rate by 0.15%

It is possible that the overall Tesco rate may rise to 1.45% in a month or two.

PS each customer can have six Tesco internet savers and I opened my third online in about 5 minutes.

Westie983

Im on 5 as well, and instant access accounts, I will have a clear out next month.

1.35% and 1.30% and im closing the 0.55% ones.

Westie983

surreysaver

I've got one paying 1.35%, which I keep spare money in that I want instant access to, as well as a 1.3% and a 1.21%. I also have three of the Instant Access ones. Do they count as part of the 6 in total?
I'm letting Tesco do the hard work of killing off the direct debits, then once they've done that I'll be closing the lower interest accounts

polymaff

surreysaver wrote: »

... I'm letting Tesco do the hard work of killing off the direct debits, then once they've done that I'll be closing the lower interest accounts

Me too. I guess that when we all do that then the question of how many you're allowed will become of academic interest only.

YorkshireBoy

surreysaver wrote: »

I've got one paying 1.35%, which I keep spare money in that I want instant access to, as well as a 1.3% and a 1.21%. I also have three of the Instant Access ones. Do they count as part of the 6 in total?

According to their help pages, yes they do.

polymaff

polymaff wrote: »

To evaluate the return per mandate you need to consider what each delivers. When interest rates were higher, the advantage lay with the interest-bearing bank accounts. Now, with these rates barely above that available from no-strings, easy access accounts, it is all-change. How you judge the return per mandates will depend upon your tax status and what the best easy access account pays. I'm a taxable savings tax-payer, and my reference account is a BM Savings 1.45%.

What does the Halifax Reward account pay? £45 gross per annum. What about the BoS Classic with Vantage? Well if you didn't have the Bos account, you'd put the £5,000 in the easy savings account - so, in my case, the gross margin of Bos over BM is 0.55% which is £27.50 per annum. Two monthly-paying DDs each, so game set and match to Halifax Reward.

There is more cash value to consider, usually Regular Savers - but, in these two cases the added return is the same so we'll forget looking up whether either require the current account or not!

Just for comparison, The Bos account is the least profitable per mandate, Halifax Reward is next, then Barclays Blue Reward (Although Halifax Reward with a Regular Saver is just about level with Barclays), Club Lloyds (up there due to the regular saver), then the super "one-DD" Co-op.

M&S and Santander are not worth comparing as the DDs they require are two-a-penny.

E&OE

Update: BoS Classic Vantage and Club Lloyds rates fall to 1.5% on 1st July 2018.

So, above, 0.55% falls to 0.05%, £27.50 falls to £2.50 p.a. (Club Lloyds, too) and the Club Lloyds offering falls below all but BoS - and that is only by dint of the better Regular Saver.

Certainly is all-change !

matty17r

mary wrote: »

Thanks for the explanation. I've looked on the BM website and the best paying account I can see is now 0.9% so I'm guessing you have an older account, no longer available.

Polymaff - could you please explain the co-op one super DD please. I have a co-op account and was thinking I will have to close this because of the 4 DDs required. I have read this before on another forum but could not understand it! TIA