How many Regular Savings Accounts do you have?

ColdIron

The online Regular E-Saver issue 12 has been removed from the site for the moment. Since the release of the branch Regular Saver at 3% we are all waiting for news about the issue 13 of the online one hopefully announced later this month

DennisTenus

ColdIron wrote: »

The online Regular E-Saver issue 12 has been removed from the site for the moment. Since the release of the branch Regular Saver at 3% we are all waiting for news about the issue 13 of the online one hopefully announced later this month

Is the online one usually better rate?

EachPenny

DennisTenus wrote: »

I've been searching the virgin money site for the regular saver and for the life of me can't find it..... can someone help please? Is it called double take E-saver?

You have to click on the 'Store/Post' tab on the savings range page as there isn't currently an issue available online.
https://uk.virginmoney.com/savings/find/regular_saver_issue_12/overview/

ColdIron

DennisTenus wrote: »

Is the online one usually better rate?

No, to date they have been the same - hence the wetting of gussets and other anticipation around these parts

Paul_DNAP

I've got a Santander and three Virgins (lucky me) was half considering another Virgin but bumped up my pension AVCs to boost the non-cash retirement planning a bit also, but might get in there with an 3% if they do the online version.

gingercordial

AndyPK wrote: »

So what sort of interest are people getting.


I didn't think there were many at 5% ?


But do tell me more.....

My weighted average* interest rate for my set of 17 currently-running regular savers is 3.36%. It is slightly dragged down as one of them is at 1.5% as it pulls by direct debit so is in place for that more than the savings rate itself.

All fully funded each month.

* For those not familiar with the term: if the maximum amount you can put into one account is higher it counts more in the calculation of average interest rate.

JohnRo

gingercordial wrote: »

My weighted average* interest rate for my set of 17 currently-running regular savers is 3.36%. It is slightly dragged down as one of them is at 1.5% as it pulls by direct debit so is in place for that more than the savings rate itself.

All fully funded each month.

* For those not familiar with the term: if the maximum amount you can put into one account is higher it counts more in the calculation of average interest rate.

Weighted or not, the problem with regular savers is that the headline percentage rate doesn't reflect the return because of the throttle on contributions.

I don't bother with anything 'regular saver' that's less than a 3% headline rate.

EachPenny

JohnRo wrote: »

Weighted or not, the problem with regular savers is that the headline percentage rate doesn't reflect the return because of the throttle on contributions.

I don't bother with anything 'regular saver' that's less than a 3% headline rate.

How does that work then?

Cornucopia

JohnRo wrote: »

Weighted or not, the problem with regular savers is that the headline percentage rate doesn't reflect the return because of the throttle on contributions.

When you have one or two, no it doesn't. The more you have, and the more staggered they are, the better the true rate becomes... I think. It also depends on the rate you are receiving on your feeder account(s).

IanManc

JohnRo wrote: »

Weighted or not, the problem with regular savers is that the headline percentage rate doesn't reflect the return because of the throttle on contributions.

I don't bother with anything 'regular saver' that's less than a 3% headline rate.

That statement is untrue. The headline rate clearly does reflect the return. Your issue appears to be a perception that the contributions permitted are low from your point if view, which is a different thing from the rate of return.