Regular Savings Accounts: The Best Currently Available List!

ceredigion

I note the 5% isn't fixed for the 12 months

Carnival789

Slightly quicker for me (but only just!)... 18 mins 57 secs!

Stompa

Had to give up, 15 minutes and I still hadn't got to speak to a person!

grumbler

31 minutes here. I am exhausted, but I can see it online already.
BTW, I have to set up a SO myself.

ceredigion

Anybody tried going through the Select phone number

Nual

Am i missing something? 5% on 200/ month , total after 12 months 2400 maximum ie £64 versus 3% on 123 account. How much difference are we talking about in terms of interest earned?

Steve_xx

Nual wrote: »

Am i missing something? 5% on 200/ month , total after 12 months 2400 maximum ie £64 versus 3% on 123 account. How much difference are we talking about in terms of interest earned?

Hard to say because of course the £200 per month wont be there in the Regular Saver for the whole of the 12 month period. So in effect it'll be earning 3% in the 123 account whilst it's waiting to go into the 5% account.

Zanderman

Nual wrote: »

Am i missing something? 5% on 200/ month , total after 12 months 2400 maximum ie £64 versus 3% on 123 account. How much difference are we talking about in terms of interest earned?

My edited reply: (replacing original which was misleading, you can see it quoted in YorkshireBoy's reply below)

The best return on this Santander Reg would, I assume, be drip-feeding from a 123 at £200 per month. Which, for the £2400 involved, would earn, according to Martin's calculator (http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#dripfeed)

After drip-feeding the cash for 12 months...

Total interest earned: £98
£33 from the normal savings & £65 in the regular saver.

If you'd kept the money only in the normal savings account [i.e. the 123 account] you'd have earned £72 in interest.

Ashen

As someone who doesn't often call the bank, what sort of information, security or otherwise, do Santander need when you phone up to apply?

YorkshireBoy

Zanderman wrote: »

Reg savers are best used, in this scenario, for front-loading the first few months with the max amount (£200 in this case) and decreasing to the minimum in later months. That way you get more than 123's 3% on the first few payment, but don't lose by getting less on the later ones....

Maybe I'm missing something (or maybe you are?), but I'd rather make 5% AER on my money than 3% AER...each and every day of the year...not just for a few months.