Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

Just a quick message to let you know I have been having some trouble with my internet access but I hope to do an update to this thread this weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

Special_Saver2

Hi Everybody,

Here is this weekend's update.

- Cheshire, Derbyshire and Dunfermline BS Platinum Monthly Saver accounts moved to post 7 as they now have less than 12 months to run (mature 28th February 2015)

Regarding the Mansfield BS Regular Saver issue 2, that interest rate decrease brings it into line with the issue 3 which is the one that is currently available.

I have done a thorough check and cannot find anything else that has changed.

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

bristolleedsfan

Yorkshire B.S - Bristol Branch who opened both my Issue 1 and Issue 2 regular savers pointed out to me this week, Issue 2 bonus conditions state -

http://www.ybs.co.uk/savings/regular/regular-saver2.html

"You are the main account holder on no more than one Regular Saver account. This includes current and previous issues of the Regular Saver account."


I was assured that those who hold both issues can continue to do so, bonus payments wont be affected, there will be no purge.


Does anyone know how long the above has been stated as per the quote from the link?

Special_Saver2

Hi BLF,

Nice to see a post from you. I noticed that rule about 1-2 months ago but it could have been there longer. I hold an issue 1 account (and have been consistently pleased with the interest rate on that account) and I was looking for a new 12 month account to open in April to mature in April 2015 to fund a 2015/16 ISA. That is when I noticed this rule.

I have added your info to the relevant entry in post 2.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

planteria

Special_Saver2 wrote: »

Swansea BS Regular Saver Account

Interest rate: 3% gross p.a. variable from 1st August 2013
Monthly payment: £25-£500
Miss any payments: No
Penalty-free withdrawals: Yes, as many as you want.
Age of applicant: Any age (including parents on behalf of a child)
How to open account: Branch or post
Special conditions: Interest paid monthly and must be paid to a different account with Swansea BS. On each anniversary, the account balance will be transferred to another account with Swansea BS. Only available to existing members or residents of Wales.

does anyone know of anyone getting around the Existing/Locals rule? i would like to open this Regular Saver with Swansea, and happy to have another account alongside.

bristolleedsfan

Special_Saver2 wrote: »

Hi BLF,

Nice to see a post from you.

Thanks - always nice to be remembered for the right reasons


I took a couple of years off from Savings Forum - when I returned to this board was good to see you having continued to update this thread. :T


Thanks for all your years of efforts S.S :beer:

Chris2000

bristolleedsfan wrote: »

Issue 2 bonus conditions state -

http://www.ybs.co.uk/savings/regular/regular-saver2.html

"You are the main account holder on no more than one Regular Saver account. This includes current and previous issues of the Regular Saver account."


I was assured that those who hold both issues can continue to do so, bonus payments wont be affected, there will be no purge.


Does anyone know how long the above has been stated as per the quote from the link?

This restriction has been there since Issue 2 launched. It was the only reason I didn't open an Issue 2 to run alongside my existing Issue 1.

steady__eddie

There appear to be a few folks like myself who have maintained issue 1 but how do you work out how much to withdraw prior to when interest is paid in order that you do not exceed the £20K limit ? Some years ago I waited until the day when interest appeared on my a/c. and withdrew it together with £110 in order to accomodate the following years subscriptions. The result was that I had a snotty letter from them saying that I had breached the T + Cs by exceeding the limit. I replied that during the day my balance may have been over the limit but at the end of the day my balance was £110 below £20k.

Nick_C

I use a spreadsheet to estimate the interest and forecast future balances.

Column A - date
Column B - Amount
Column C - calculated balance =IF(A7>37550,C6+B7,"")
(37550 is the value of 21 Oct 2002, and is just a way of only calculating the balance if a date is entered in column A)
Column D - optional notes
Column E - calculated estimated interest
=(A7-A6)/365*C7*0.0375*0.8

If you struggle with Excel, send me a PM with your e-mail address and I will let you have a copy.

patientperson

Why is this Regular Saver thread no longer sticky? .. scrolling over 4 pages to find it.