Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Quick message to say I am having issues with internet access but I will update this thread when I am back on the internet properly.

SS2

veryintrigued

Kazza242 wrote: »

The Nottingham have now added the Special Saver Issue 4, paying 4.00%, to their website, please see here.

I think this is one of the first times that they have added one of their 'Special Saver' accounts to their website.

Well done The Nottingham. I hope they do this for all future account launches.

I'll be popping on later this week to open one of these. Its worth noting that this issue is once again variable interest.

skitskut

Kazza242 wrote: »

The Nottingham have now added the Special Saver Issue 4, paying 4.00%, to their website, please see here.

I think this is one of the first times that they have added one of their 'Special Saver' accounts to their website.

Well done The Nottingham. I hope they do this for all future account launches.

Why do they say you can invest up to £750,000 whilst the account is still available yet there is a limit of £400 a month?!!

Archi_Bald

skitskut wrote: »

Why do they say you can invest up to £750,000 whilst the account is still available yet there is a limit of £400 a month?!!

sloppy editing. Anyway, you wouldn't want to keep more than £75K in any one financial institution as that would bring you over the FSCS limit.

Kernel_Sanders

MarkFromMullion wrote: »

Perhaps the initial deposit can be up to £750 and after that monthly deposits can be up to £400.

Your reply shows you misunderstand the terms of the account. Skitskut is pointing out that it would take around a century to accumulate such a sum with those terms..

afmfifgh

skitskut wrote: »

Why do they say you can invest up to £750,000 whilst the account is still available yet there is a limit of £400 a month?!!

It looks as though they have made a mistake and just copied it from another new account they have just launched called the Reward Bond Issue 3 which has the £750,000 limit.

On the 'Paying money in' tab it states:

http://www.thenottingham.com/savings/special-savers-issue-4/

Paying money in
The minimum amount to open an account is £10. You can invest up to £750,000 whilst the account is still available.

Fixed rate accounts are only available for a limited period and once the account is withdrawn you won't be able to pay any more into your account.

You will note that it says 'Fixed rate accounts are only available for a limited period and once the account is withdrawn you won't be able to pay any more into your account.'

But this isn't a fixed rate account.

Someone just was lazy!

Special_Saver2

Hi Everybody,

I have updated the first post of this thread.

- added the Penrith BS 300 account to post 3
- updated the Nottingham BS Special Saver account from Issue 3 ending June 2016 to the new Issue 4 account ending in October 2016 and added the link to the Nottingham BS website

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

Special_Saver2

Hi Folks,

I cannot find anything that has changed for this weekend's update. I will do another update the weekend after next.

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

checkmate9999

The problem with most of these regular savers is that being fixed term for 12 months the headline rate flatters the product. Only your first months saving will realise the full rate. Every subsequent months deposit will receive only the proportion of the year remaining which means the actual rate of return at the end of the year will be considerably below the headline rate. Perhaps suitable for savers who actually do just deposit residual income from every months earnings , but for others with capital who have exhausted high rate accounts they are a pain in the proverbial.

colsten

checkmate9999 wrote: »

The problem with most of these regular savers is that being fixed term for 12 months the headline rate flatters the product. Only your first months saving will realise the full rate. Every subsequent months deposit will receive only the proportion of the year remaining which means the actual rate of return at the end of the year will be considerably below the headline rate. Perhaps suitable for savers who actually do just deposit residual income from every months earnings , but for others with capital who have exhausted high rate accounts they are a pain in the proverbial.

Not that old chestnut again!

As has been discussed countless times, the full rate applies throughout the duration of the term. There is no reduction of any sort of the interest rate - it's a fixed rate.

Of course you only get interest on the money that is in the account, and the amount you can add each month is limited.

Regular Savers with high interest rates are anything but "a pain in the proverbial" - - - you need to read up about drip-feeding. And about regular savings accounts in general.