Virgin regular saver 2%

colsten

Gocycle wrote: »

I’ve just opened one too. I think interest is paid on the 10th. But the monthly deposit window is based on the date account is opened. So if you open on the 15th of month 1, any deposits can be made until 14th. Month 2 begins on the following 15th. You can deposit any number of times within the month but mustn’t exceed £250/ month in total. They also recommend that you should not deposit too close to monthly anniversary date to allow enough time for payment to clear. Otherwise it will count to the following month’s quota.

I think this is right...as I understand it,

Assuming you are referring to the Coventry BS RS:

1. interest is paid annually (i.e. on maturity), or on account closure
2. it's £500 max a month

Growingold

Kent Reliance offer one at 3% £500 max deposit a month. You have to open in branch and also do the maturity withdrawal etc and reopen a new one in branch but other than that can do online transfers into it.
Can access money whenever but need to do it in branch.
Depends where you live if there is a branch nearby.

soulsaver

Growingold wrote: »

Kent Reliance offer one at 3% £500 max deposit a month. You have to open in branch and also do the maturity withdrawal etc and reopen a new one in branch but other than that can do online transfers into it.
Can access money whenever but need to do it in branch.
Depends where you live if there is a branch nearby.

Other Reg savers are featured in a comprehensive dedicated thread here:
https://forums.moneysavingexpert.com/discussion/5776240/regular-saver-thread-new-and-restarted
And here:
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/?_ga=2.223752283.1754530624.1566833604-761418089.1542203248#local

The KRBS RS account features in both.

jamels2

Thanks for the links, these appear like a good idea for building up a savings pot , with no risk like shares.

arnoldy

Seems a lot of fiffle-faffle to do the regular savers.


Why not just buy RDSB, BP, LLOY, BARC, ULVR and Others and get 5% and possibly rising.


Very liquid and no problem to liquidate instantly.


Yes there is the Capital fluctuations. But in the long run not an issue, and in the short term not massive movements if you diversify across 5-10.

eskbanker

arnoldy wrote: »

Seems a lot of fiffle-faffle to do the regular savers.


Why not just buy RDSB, BP, LLOY, BARC, ULVR and Others and get 5% and possibly rising.


Very liquid and no problem to liquidate instantly.


Yes there is the Capital fluctuations. But in the long run not an issue, and in the short term not massive movements if you diversify across 5-10.

Because investing isn't comparable to saving, especially when OP has just said he's risk-averse.

Because buying only from a single market is poor investing.

Because choosing single shares is inherently risky.

Because those particular shares are hardly shining examples - try telling Lloyds shareholders who bought at their peak that they should be happy that the shares have stagnated at about 10% of that value for the last ten years.

I don't know if "fiffle-faffle" is a real thing but that post seems to have similar credibility to the utterings of a certain de Pfeffel....