Regular Savings Advice

aj23_2

bundoran wrote: »

No.

The Terms and Conditions for RS4 say:
"Conditions for bonus payment
1.8% bonus payable annually on 31 August (commencing 31 August 2017) provided:
. you make only one single payment of between £50 and £250 each month
. your account balance does not exceed £6000 (excluding accrued interest); and
. you only make one withdrawal per bonus period.
The bonus period runs from 1 September to 31 August each year."

So if you stop paying in you lose the 1.8% bonus and only get the underlying rate, and the same happens if you carry on paying in when the balance (excluding accrued interest) exceeds £6000.

Yeah so take £600 out and put £50 back in for 12 months.... reinvest the money.

aj23_2

ValiantSon wrote: »

I'd already read them. They don't change anything. The total return in monetary terms is irrelevant; the rate is the important thing.

I'm not going to get in to all of this with you again. I was merely offering support to someone else who was clearly growing frustrated..

Some of the higher rates actually return less money depending on what the monthly deposit limit is and the length of term.

Look at Halifax Children's Saver. Wow 4.5%. Oh only £100 a month. So you'd get 4.5% on £600 (the average balance).

I haven't asked you to get in to all of this again. You're the one who commented. I'm sure your support isn't needed that much. This isn't a bereavement.

aj23_2

Chadsman wrote: »

A quick read of this thread gives an indication why some people voted the way they did on a certain political issue currently in the news.

Which means you're in the minority :beer:

ValiantSon

aj23 wrote: »

Some of the higher rates actually return less money depending on what the monthly deposit limit is and the length of term.

No they don't! They return the percentage that they say they return! The monetary value is irrelevant. If I have £500 and one account will pay me 4.5% on £100 per month, and the other will pay me 2.5% on £500 per month, then the best choice would be to split the money across the two accounts, maxing out the 4.5% account. To show you the comparison:


Option A - £100 per month at 4.5% plus £400 per month at 2.5% (after 12 months):
£100 p/m = £29.05 interest
£400 p/m = £64.75 interest
Total return = £93.80

Option B - £500 per month at 2.5% (after 12 months):
£500 p/m = £80.94
Total return = £80.94

Oh look, I make more by splitting the money so that I maximise deposits into the highest rate paying account! Who would ever have thought it?

aj23 wrote: »

Look at Halifax Children's Saver. Wow 4.5%. Oh only £100 a month. So you'd get 4.5% on £600 (the average balance).

What is your point? 4.5% on £100 per month is still more than 2.5% on £100 per month. This is elementary mathematics. It doesn't matter what the sum deposited is. The higher the rate, the better the return on the money invested. I really do not understand why you cannot grasp this! I'm sure that you studied percentages in Maths at school.

aj23 wrote: »

I haven't asked you to get in to all of this again. You're the one who commented. I'm sure your support isn't needed that much. This isn't a bereavement.

Don't talk to me about bereavement. Making comments like that leave you open to upsetting people who have suffered the loss of someone they love, perhaps even their spouse/partner. You may not have meant to be insensitive, but your comment is.

(And now I've broken my resolution about not trying to teach you anything).

ValiantSon

aj23 wrote: »

Which means you're in the minority :beer:

No it doesn't. The referendum had a turn out of 72.2%, of which 51.89% voted "Leave". That means that actually the majority supported "Remain", as an abstention always counts as tacit support for the status quo.

aj23_2

ValiantSon wrote: »

No they don't! They return the percentage that they say they return! The monetary value is irrelevant. If I have £500 and one account will pay me 4.5% on £100 per month, and the other will pay me 2.5% on £500 per month, then the best choice would be to split the money across the two accounts, maxing out the 4.5% account. To show you the comparison:


Option A - £100 per month at 4.5% plus £400 per month at 2.5% (after 12 months):
£100 p/m = £29.05 interest
£400 p/m = £64.75 interest
Total return = £93.80

Option B - £500 per month at 2.5% (after 12 months):
£500 p/m = £80.94
Total return = £80.94

Oh look, I make more by splitting the money so that I maximise deposits into the highest rate paying account! Who would ever have thought it?



What is your point? 4.5% on £100 per month is still more than 2.5% on £100 per month. This is elementary mathematics. It doesn't matter what the sum deposited is. The higher the rate, the better the return on the money invested. I really do not understand why you cannot grasp this! I'm sure that you studied percentages in Maths at school.



Don't talk to me about bereavement. Making comments like that leave you open to upsetting people who have suffered the loss of someone they love, perhaps even their spouse/partner. You may not have meant to be insensitive, but your comment is.

(And now I've broken my resolution about not trying to teach you anything).

It's not elementary. If it was 2.5% at 500pm it would beat that. Anyway, you're always goading for an argument and I can't be bothered. I think you're being too sensitive and reading way too much into things. I wasn't actually conversing with you about bereavement, so I don't see why you're asking me to stop something I wasn't doing. I haven't asked you to teach me anything, I don't want you to, and I never did. Enjoy your day.

aj23_2

ValiantSon wrote: »

No it doesn't. The referendum had a turn out of 72.2%, of which 51.89% voted "Leave". That means that actually the majority supported "Remain", as an abstention always counts as tacit support for the status quo.

LOL

No, that actually means the people who didn't vote didn't mind which way it went. If they did, they would have voted. If they'd have wanted to have remained, they would have voted for remain. They didn't. Thus, they didn't mind leaving. Looks who's teaching you now. Don't try and spin that one. For someone to try and say that a MAJORITY voting to leave is actually showing a vote overall for remain is absolutely hilarious. Any credibility you had has gone right out of the window there. That will give me a laugh for ages. Thanks!

ValiantSon

aj23 wrote: »

It's not elementary. If it was 2.5% at 500pm it would beat that.

:wall: No it wouldn't!

I have shown you worked examples, and still you won't accept that you are wrong! 2.5% on £500 p/m gives £80.94 interest after 12 months (as I said), whereas 4.5% on £100 p/m plus 2.5% on £400 p/m gives £93.80 interest (as I said). Here, check it for yourself:

https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/#calculator

It really is elementary mathematics. This is the kind of calculation that I could do before I left primary school!

aj23 wrote: »

Anyway, you're always goading for an argument and I can't be bothered.

No, I can just work out percentages, and I understand basic mathematics. When someone states something as fact that is demonstrably wrong, then I am entitled to correct them. This isn't trying to goad them into an argument. Sometimes, aj23, you will find that there are people who know more than you: accept it with good grace.

aj23 wrote: »

I think you're being too sensitive and reading way too much into things.

When your partner dies, then you are qualified to talk to me. Until then, you aren't.

aj23 wrote: »

I haven't asked you to teach me anything, I don't want you to, and I never did. Enjoy your day.

No, your entire attitude is that you don't want to learn anything. What a very sad way to live a life.

ValiantSon

aj23 wrote: »

LOL

No, that actually means the people who didn't vote didn't mind which way it went.

Oh dear, wrong again. Abstentions are counted as being accepting of the status quo.

aj23 wrote: »

If they did, they would have voted. If they'd have wanted to have remained, they would have voted for remain. They didn't. Thus, they didn't mind leaving.

Nope, that isn't how it works. People abstain for all sorts of reasons, it doesn't mean that you can assume they are happy with a change to the status quo. Abstentions are not counted, but they are assumed to be tacit support for the status quo (for whatever reason the elector chose not to cast their vote).

The majority of votes cast were for "Leave", but that isn't the same as the majority of the electorate suporting "Leave".

aj23 wrote: »

Looks who's teaching you now.

Well it certainly isn't you!

aj23 wrote: »

Don't try and spin that one. For someone to try and say that a MAJORITY voting to leave is actually showing a vote overall for remain is absolutely hilarious. Any credibility you had has gone right out of the window there. That will give me a laugh for ages. Thanks!

You're welcome. The fact that you don't understand how voting works is pretty funny to me too.

karlie88

Several members have tried to educate aj23 and he still doesn't get it (both on this thread and a previous thread) - which leads me to believe that he's a troll.

@ValiantSon and Zanderman - I recommend we launch a new regular savings account paying 0.5% on up to £3k per month. Just imagine the amount of interest we'd get from a certain individual?! (Excuse the pun).