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steady__eddie

"My Scottish BS Regular Bonus Saver reach anniversary on October 12, 2011."

You can continue to save in this a/c. I have had one without interuption since August 2009. Interest is paid on the 31st of March, (unless of course you close the a/c.). The only drawback which I have found is that you cannot change the amount of your monthly payment, I was somewhat financially constrained when I opened my a/c. but now I can hold my head above water they will not allow me to max my monthly payments.

Frogletina

steady__eddie wrote: »

You can continue to save in this a/c. I have had one without interuption since August 2009. Interest is paid on the 31st of March, (unless of course you close the a/c.). The only drawback which I have found is that you cannot change the amount of your monthly payment, I was somewhat financially constrained when I opened my a/c. but now I can hold my head above water they will not allow me to max my monthly payments.

Are you getting 4% interest and if so are you sure about the payments?

Introductory Bonus Conditions12 credits & 1 withdrawal p.a.Bonus

The minimum monthly payment is £25

Conditions - The rate includes a annual bonus of 3% payable if no more than 1 withdrawal has been made in the year and all 12 monthly payments of between £25 and £500 have been made.

I would take that to mean that the payments can be variable

steady__eddie

Just looked at the leaflet which they gave me when I opened the a/c. and in the summary box in the section entitled Conditions for bonus payment it states, "Rate includes 3% bonus paid 31st March provided no more than one payment missed and/or one withdrawal made in the previous twelve months. Monthly payments must stay the same as the initial amount paid in when opening account.
Ad hoc deposits are not permitted."
On the inside of the passbook it says that it is a Regular Bonus Saver so hopefully I haven't c0cked it up and we are talking about the same a/c., they've paid me 4% gross the last couple of years.

Frogletina

steady__eddie wrote: »

Just looked at the leaflet which they gave me when I opened the a/c. and in the summary box in the section entitled Conditions for bonus payment it states, "Rate includes 3% bonus paid 31st March provided no more than one payment missed and/or one withdrawal made in the previous twelve months. Monthly payments must stay the same as the initial amount paid in when opening account.
Ad hoc deposits are not permitted."
On the inside of the passbook it says that it is a Regular Bonus Saver so hopefully I haven't c0cked it up and we are talking about the same a/c., they've paid me 4% gross the last couple of years.

I don't think the details I previously quoted which I found on line make it very clear at all, but you are right - I have just found a leaflet which is the same as the one you must have which does say the payments have to stay the same. That is a pity.

I personally have the previous Regular Saver account, which is very similar - but the payments are for a minimum of £25 and a maximum of £1000.

When the new Regular Bonus Saver account came out, they sent me details of that too, which is why I now have found a paper copy of that.

Special_Saver2

Yes, I have found a copy of my old entry on this account and it confirms the information above.

No Time Limit / Account Maturity Date
[FONT=Times<br /> New Roman]
[/FONT][FONT=Times New<br /> Roman][FONT=Times<br /> New Roman]Scottish BS Regular Bonus Saver[/FONT]

Interest rate: 4% gross p.a. variable (including a 3% bonus) from 1st June 2009
Monthly payment: £25-£500 (fixed amount, must be the same
amount as the opening deposit)
Miss any payments: Yes, can miss 1 payment per account year
Penalty-free withdrawals: Yes, one per account year
How to open account: Branch or post (freepost address)
Special conditions: An account year is the 12 month period ending 31st March. Although people who live outside Scotland normally have to maintain a minimum balance of £1,000 with Scottish BS accounts, this does not apply to this account according to this page from their website. Premierfella reports that you can open this account in addition to the old Scottish BS "Regular
Saver" account. Innys reports in post 984 that Scottish BS are letting people continue paying in to this account for more than 12 months and still receive the same interest rate.
Note: The amount you have to pay is fixed and the interest rate is variable, so it is possible that they could drop the interest rate and you would have to continue the same monthly payments or lose the bonus interest.[/FONT]

adindas

Are we still getting 4% for the next 12 months assuming no withdrawal has been made ..??

johnmoney05

adindas wrote: »

Are we still getting 4% for the next 12 months assuming no withdrawal has been made ..??

Here http://www.scottishbs.co.uk/dmdocuments/Rates%20List%20%282011-10-03%29.pdf

premierfella

http://www.theloughborough.co.uk/savings-at-the-loughborough/which-savings-account-is-right-for-me/longer-term-savings/monthly-saver-2/

Loughborough BS Monthly Saver Issue 2
4% AER
Interest is variable and is paid on the 31st October 2012 and on maturity 31st October 2013.
10 monthly payments and maximum 1 withdrawal per account year (1NOV-31OCT).
Min monthly credit £10; maximum £200.
The amount of the monthly payment can be amended each year on the 1st of November and must be notified to the Society in writing prior to the change becoming effective.

adindas

Am I correct to say that it comes down now to 3% ?
Could someone confirm about this ?
But the one shown on the table not what I originally have. The one that I opened it a year ago will only allow max payment of £500, not £1000.

johnmoney05 wrote: »

Here http://www.scottishbs.co.uk/dmdocuments/Rates%20List%20%282011-10-03%29.pdf

MarkFromCornwall

SBS "Regular Saver" is 3%.
SBS "Regular Bonus Saver" is still 4% (look further down that page)