Regular Savings Accounts: The Best Currently Available List!

fun4everyone

nevermind.

veryintrigued

fun4everyone wrote: »

I think you might be misunderstanding the way the leeds one works, although I could be wrong.


I have a regular savings account at a local building society which pays 3.5% and allows one withdrawal per year, it also keeps going indefinitely like you describe.


However once a year passes only money added in the last 12 months qualifies for that years bonus interest payment, taking the rate up from 0.5% to 3.5%. The rest gets only 0.5%. I find it highly unlikely this leeds lot have an account that allows huge balances to build up paying 3.05% on the whole lot. I suggest you clarify it with them

You're wrong

adindas

I understand indefinite mean until it is stated otherwise.

I think you underestimate the value of indefinite 3.05% instead of only for one year.

Scottish Building Society used to have the same product paying 4% regular bonus saver where you could pay £500 a month for indefinite period and I have used it for about 3 years before I withdraw about £18,000 at once when I need it for house deposit. £18,00 at that time earning 4%, well nice hard to beat ...

Well I am not associated with LBS.
You name every best paying current account, every best RSA paying 3%+ interest it is highly likely I already have it.

veryintrigued wrote: »

I think you need to look up the definition of 'variable interest rate' and your (made up) association of indefinite on the Leeds.

I think most people would prefer multiple withdrawals (as per the Lloyds) rather than the one (for the Leeds).

So - guaranteed (for that year) interest rate, ability to save more (and therefore more interest) and more withdrawals allowed.

Are you on the LBS board?

P.S. I have both BTW. The (now sadly closed for new accounts) N&P Family Regular Saver (at 3.35%) is the same sort of thing as the LBS one.

fun4everyone

veryintrigued wrote: »

You're wrong

OK cheers I don't have that account anyway so shouldn't open my mouth will edit my post

Steve_xx

fun4everyone wrote: »

I think you might be ng.

Once a year passes only money added in the last 12 months qualifies for that years bonus interest payment, taking the rate up to 3.05%. The rest gets only something pitiful. I find it highly unlikely this leeds lot have an account that allows huge balances to build up paying 3.05% on the whole lot. I suggest you clarify it with them

You are incorrect.

fun4everyone

And OK I might be wrong if its taken to talking about leeds but my post was referring to a different account I have, which I didn't name, so I don't see how it can be said that its wrong.

veryintrigued

adindas wrote: »

I think you underestimate the value of indefinite 3.05% instead of only for one year.

I don't - hence why I gave you the N&P example which is also VARIABLE (you're missing this variable point).

I'd much rather be guaranteed a rate (and higher deposits) for 12 months...

colsten

Amongst the noise about Leeds BS, I almost missed that the Club Lloyds Monthly Saver is now 3% AER for new savers. Many thanks to whoever posted this first.

oysteroyster

Grrr my Lloyds monthly saver matured today and I was just about to open another when I spotted this. Boooo! Already got a TSB, First Direct, Santander and M&S Monthly Saver - where to go next...

fun4everyone

oysteroyster wrote: »

Grrr my Lloyds monthly saver matured today and I was just about to open another when I spotted this. Boooo! Already got a TSB, First Direct, Santander and M&S Monthly Saver - where to go next...

Nationwide?