Regular Savings Accounts: The Best Currently Available List!

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.

Ashen

Steve_xx wrote: »

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.

There's a £250 per month deposit limit, so you can't deposit 3.5k in 12 months without exceeding that limit. Depositing £3500 has to be over 14 calendar months.

Steve_xx

Ashen wrote: »

There's a £250 per month deposit limit, so you can't deposit 3.5k in 12 months without exceeding that limit. Depositing £3500 has to be over 14 calendar months.

I see your point and you are correct regarding the 14 months. However, in your original point you mentioned that the "balance" may possibly exceed 3.5k, which would be true. But, Virgin's blurb makes mention of the maximum "deposit" amount you can make, and not the "balance", if you see what I mean?

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate.

Ashen

Steve_xx wrote: »

I see your point and you are correct regarding the 14 months. However, in your original point you mentioned that the "balance" may possibly exceed 3.5k, which would be true. But, Virgin's blurb makes mention of the maximum "deposit" amount you can make, and not the "balance", if you see what I mean?

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate.

Yes, I posted that because the first post mentioning the account said a 'maximum balance' of £3500, as well in the first posts, and inevitably anyone depositing £250 from this month onwards can exceed that balance before maturity (as the first interest is paid before maturity).

I then deleted the comment a few minutes later because I couldn't find mention of it being a 'maximum balance' as such on the Virgin site (as you say), and thought perhaps I'd been too pedantic, but my comment had been quoted

broju

Reducing from 2% to 1.75% on 1st October 2016

[Deleted User]

broju wrote: »

Reducing from 2% to 1.75% on 1st October 2016

B****r :sad:I just took one out on 2 September, just got in before it was pulled.

schiff

Extract from some part of the T&Cs:

"Fixed Term Projected balance, end of Fixed Term

20 October 2017 £3,549.22

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate."

This, added to the quotes 'up to £250 per month', 'calendar month', 'maturity date 20/10/17', 'maximum £250 monthly deposits over 14 months' (all from the Virgin website), must surely mean what we want it to mean!

Westie983

Deleted_User wrote: »

B****r :sad:I just took one out on 2 September, just got in before it was pulled.

Not sure if its worth it now....

Going to fill up HSBC, FD, and LEEDS first and the remainder can go into Buck, its down the list now.