Regular Savings Accounts: The Best Currently Available List!

themadvix

Hi All,

I wonder if someone could help me?

I'm considering opening a TSB Monthly Saver but will have a variable amount to put in each month. I can't see anything in the T&Cs, and I know it goes against the idea of a regular savings a/c, but if I was prepared to change the amount of the SO each month manually, would this still qualify for the interest? All I can see that it says is that the money must be transferred by SO.

Would be really grateful for any help - it's so difficult trying to juggle all the requirements of the different accounts to maximise the interest!

Vicky

Steve_xx

themadvix wrote: »

Hi All,

I wonder if someone could help me?

I'm considering opening a TSB Monthly Saver but will have a variable amount to put in each month. I can't see anything in the T&Cs, and I know it goes against the idea of a regular savings a/c, but if I was prepared to change the amount of the SO each month manually, would this still qualify for the interest? All I can see that it says is that the money must be transferred by SO.

Would be really grateful for any help - it's so difficult trying to juggle all the requirements of the different accounts to maximise the interest!

Vicky

Yes you can change the amount so long as it is between £25 and £250 per month.

themadvix

Hi Steve,

Brilliant, thanks - that's just what I wanted to hear!

YorkshireBoy

themadvix wrote: »

Hi Steve,

Brilliant, thanks - that's just what I wanted to hear!

Further confirmation from the 'find out more' section...

Reasons to choose Monthly Saver

• Get an interest rate of 5.00% Gross/AER* fixed for a year.
• Interest rates are fixed for the term of the account, which is 12 months from the date of account opening.
• Carry on saving - at the end of your term your account will convert to a variable rate Easy Saver Account, currently paying 1.00% Gross/AER variable including a fixed bonus of 0.80% for the first 12 months. View our Easy Saver interest rates .
• Interest is paid on maturity. For this account we normally issue statements on maturity.
• If you have a current account, you can save from £25 to £250 per month and enjoy instant access with a fixed rate.
• Instant access to your money with no withdrawal charges.
• Make as many withdrawals as you like to your TSB current account, although you can only pay in once a month by standing order and cannot replace what you have withdrawn.
• Enjoy the convenience of seeing your balance online and changing your standing order with Internet Banking.

http://www.tsb.co.uk/savings/monthly-saver/

Ed-1

Steve_xx wrote: »

Almost one months extra interest on just £250, I'd say! So it's a very small benefit.

But the account doesn't end - it carries on after 12 months so you're not gaining anything.

With fixed term regular savers, as an example:

Open TSB Monthly Saver on 31st March 2016. It matures on 31st March 2017. Deposit on 31st March and 1st April. You gain then.

But with the Leeds account it doesn't mature so it doesn't really matter when you open it.

Steve_xx

Ed-1 wrote: »

But the account doesn't end - it carries on after 12 months so you're not gaining anything.

With fixed term regular savers, as an example:

Open TSB Monthly Saver on 31st March 2016. It matures on 31st March 2017. Deposit on 31st March and 1st April. You gain then.

But with the Leeds account it doesn't mature so it doesn't really matter when you open it.

Yes but the interest is accrued on a daily basis, is it not? So if on one month you added your monthly amount early then you would gain a small amount of extra interest on one occasion.

themadvix

Thanks YorkshireBoy - I hadn't spotted that. Account opened! :beer:

crumpetman

New regular saver from Santander, 5% deposit upto £200 per month, did a search on here and couldn't find it.

Silly me, just spotted it on page 1, shame we cannot apply online though.

brenda10

themadvix wrote: »

Hi All,

I wonder if someone could help me?

I'm considering opening a TSB Monthly Saver but will have a variable amount to put in each month. I can't see anything in the T&Cs, and I know it goes against the idea of a regular savings a/c, but if I was prepared to change the amount of the SO each month manually, would this still qualify for the interest? All I can see that it says is that the money must be transferred by SO.

Would be really grateful for any help - it's so difficult trying to juggle all the requirements of the different accounts to maximise the interest!

Vicky

I do it very frequently as sometimes don't have max amount of £250 to put in, I also change dates as need to suit my money at the time.

Special_Saver2

Hi Folks,

I have updated the Hanley Economic BS Home Deposit Saver account entry with the information that is cannot be operated by post now (branch only).

I cannot find anything else that has changed.

I will do another update next weekend.

SS2

---

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