The Top Easy Access Savings Discussion Area

typistretired

Molehusband Nationwide BS have the Flex Regular Saver into which you can  pay in £200 a month and interest rate at the moment is 2.50%

Molehusband

Daliah said:

Molehusband said:

Yes, you've reminded me that I too have a Start to Save account but I'm not aware that it is classed as a "regular saver". From what I recall, you have the option to deposit up to £100/month. However, it's not mandatory to make a deposit monthly which differs from being a "regular saver". Unfortunately I can no longer find it listed on their website:
https://www.nationwide.co.uk/savings/compare-savings-accounts-and-isas/
which now makes it a bit of a mystery product.

Start To Save is no longer on offer for new applicants but  information about it is still online, not least because some people still hold the account until their 24 month term is up. In my books, it's lost its appeal after they stopped the prize draws. They also kind of insulted those with a matured Start To Save, as it morphed into a "Continue To Save" account with 0.5% AER.

NB. Not all accounts entitled Regular Save have a minimum monthly deposit requirement. See the Regular Save thread.

Thanks for the information link. The strange thing is that when I opened the account the interest rate was 1% but now, magically, it's increased to 1.25%. However I can find no published information on interest rate. Certainly 1.25% is by far the best current instant access rate that I know about, although it's tempered by only permitting up to £100/month to be deposited.

Where can I find out about your suggested maturity "Continue To Save" account?

Daliah

Molehusband said:

Thanks for the information link. The strange thing is that when I opened the account the interest rate was 1% but now, magically, it's increased to 1.25%. However I can find no published information on interest rate. Certainly 1.25% is by far the best current instant access rate that I know about, although it's tempered by only permitting up to £100/month to be deposited.

1.25% is only available to the few remaining people whose Start To Save hasn't run for 24 months yet. As soon as you get to 24 months, your account automatically morphes into the 0.5% "Continue To Save" one. They will (or should) be writing to you ahead of this event, but it won't do any harm to diarise your maturity date as you'd  probably want to move your money on the day.

I do understand that 1.25% might be attractive to those who missed out on / couldn't get multiple Virgin Money accounts but it's a short lived joy, and for a rather limited amount of money. 

Molehusband said:

Where can I find out about your suggested maturity "Continue To Save" account?

https://www.nationwide.co.uk/savings/help/terms/continue-to-save/

Molehusband

Daliah said:

Molehusband said:

Where can I find out about your suggested maturity "Continue To Save" account?

https://www.nationwide.co.uk/savings/help/terms/continue-to-save/

As with your previous link to the Start to Save account, I can't see any interest rate. Where does it display the interest rates on both of these accounts?

eskbanker

Molehusband said:

Daliah said:

Molehusband said:

Where can I find out about your suggested maturity "Continue To Save" account?

https://www.nationwide.co.uk/savings/help/terms/continue-to-save/

As with your previous link to the Start to Save account, I can't see any interest rate. Where does it display the interest rates on both of these accounts?

You might want to brush up on your searching skills!  Searching for 'Nationwide' plus the name of the account takes you to the account info pages linked earlier, and sure enough, searching 'Nationwide interest rates' links to https://www.nationwide.co.uk/savings/check-savings-interest-rate/, which has the rate info for all accounts, including products withdrawn from sale, like these.

typistretired

I wonder who will be first to increase interest rate now Bank of England 0.75%

Consumerist

typistretired said:

I wonder who will be first to increase interest rate now Bank of England 0.75%

. . . and by how much?

cx6

Probably Lloyds - from 0.02% to 0.03%

Nick_C

I will be moving back from Virgin Money @ 1pc to my tracker ISA with Skipton, which will go to 1.1pc.

GalacticaActual

Santander have finally woken up and realised that they need to increase their savings rates that aren’t linked to the base rate. New rates apply from the 6th April 2022 and are in relation to today’s Bank of England interest rate change (17th March 2022)

https://www.santander.co.uk/personal/support/savings-and-investments/changes-to-your-savings-accounts