Regular Savings Accounts: The Best Currently Available List!

glider3560

adindas wrote: »

"
• Minimum withdrawal amount is £1 (or less if closing). If you withdraw money from your Regular E-Saver in a calendar month
you cannot pay money back in to your account beyond the £250 per calendar month deposit limit.
• You can have access to your money whenever you need it. Simply log into your account and arrange to take money in the
following ways ...!"

You could withdraws but it is not mentioned whether there is penalty, lower interest rate, etc

Has anyone call Virgin to confirm about unlimited withdrawal ??....

If there is no mention of a penalty, then there is no penalty. Same with the interest rate: there is no bonus, it is just a fixed rate.

karlie88

Deleted_User wrote: »

Virgin Money have launched a Regular Saver (Issue 1). Fixed rate of interest 2.25% pa. Matures 20 October 2017. Max deposit £250 pcm (maximum account balance= £3500). Unlimited withdrawals.

Thanks for this.

Direct link: http://uk.virginmoney.com/savings/find/regular_e_saver_issue_1/overview/

Vortigern

Deleted_User wrote: »

Virgin Money have launched a Regular Saver (Issue 1). Fixed rate of interest 2.25% pa. Matures 20 October 2017. Max deposit £250 pcm (maximum account balance= £3500). Unlimited withdrawals.

Max balance of £3500 means they will allow 14 payments of £250

The first payment must be made in September to achieve this, followed by 13 payments in the months October 2016 to October 2017.

First payment can be immediate faster payment as soon as the account is open.

[Deleted User]

Vortigern wrote: »

Max balance of £3500 means they will allow 14 payments of £250

The first payment must be made in September to achieve this, followed by 13 payments in the months October 2016 to October 2017.

First payment can be immediate faster payment as soon as the account is open.

I opened my account yesterday and paid £250 by faster payment. I've set up monthly standing order for £250 from 1 October 2016 to 1 October 2017, inclusive, so should pay in 14 X £250 before maturity.

Westie983

Deleted_User wrote: »

I opened my account yesterday and paid £250 by faster payment. I've set up monthly standing order for £250 from 1 October 2016 to 1 October 2017, inclusive, so should pay in 14 X £250 before maturity.

I have joined this club, too, and done the same as you, £250 a month from 1st October, and £250 transferred once the account was opened.

Special_Saver2

Hi Everybody,

I have completed this weekend's update for the first page of this thread.

- Yorkshire BS, Penrith BS 200 and Progressive BS Clockwork Regular Saver accounts updated (all had interest rate changes noted for September that have now come to pass)
- Virgin Money Regular E-Saver account added to post 3 (has very flexible terms and conditions on payments in and withdrawals paying 2.25% fixed on up to £250 per month until 20th October 2017)

Many thanks to all the forum users who have provided useful information throughout the week.

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

mgarl10024

Ashen wrote: »

This may be viewed as being pedantic, but anyone opening and paying the maximum payment for all 14 months in the Virgin Regular E-Saver will exceed that stated maximum balance of £3500 due to the interest payment(s) prior.

In practice, I would imagine they mean a maximum amount deposited of £3500, but if taken exactly as written, it would exceed the maximum balance they've stated before the account matures.

http://uk.virginmoney.com/savings/pdf/regular_e_saver_issue_1-key_product_info.pdf

Maximum deposit limit £3,500 a year

It's not 100% clear, but this would suggest that interest isn't counted?

schiff

It will probably be similar to a condition in the T&Cs of the Leeds BS RS which reads:

'....providing your account balance doesn't exceed £6000 (excluding accrued interest)...'

Ashen

I deleted that post shortly after making it, but not soon enough

I applied, was sure I previously saw something on the Virgin site that said the maximum balance, along with the bit I quoted, but then couldn't find anything. So can just ignore!

Steve_xx

Ashen wrote: »

I deleted that post shortly after making it, but not soon enough

I applied, was sure I previously saw something on the Virgin site that said the maximum balance, along with the bit I quoted, but then couldn't find anything. So can just ignore!

Nevertheless, you mentioned that the maximum deposit was 3.5k over 14 months, when in fact, the 3.5k maximum is over 12 months. After the first 12 months have lapsed you are then effectively into the second period of 12 months.