Regular Savings Accounts: The Best Currently Available List!

Jo_Blogs

typistretired wrote: »

fastest account i have opened in a long time. Opened an online account and the new regular saver issue 3 immediately. They gave details of account and sort number so was able to transfer £250 immediately. Interest is showing at 0.10% but their help section says the correct interest rate will show when funds have cleared next working day.

wtg! :t:d;)

Kernel_Sanders

I already hold a Virgin Money Regular E-Saver issue 2, but don't have my login details and don't think I can get them by the end of the month. Can I just open an issue 3 online?

glider3560

dark.knight wrote: »

To the last 3 posters - i think i have been misunderstood

I think it is when you said...

dark.knight wrote: »

Excuse me for being flippant but why would anyone have a regular saver that pays less than 2%. A basic calulation for the interest recieved is to half the interest and that its roughly what you'd get for a year i.e a 2% RS would net the equivalent of 1% after a year. You can get that in a number of savings account and save a lot more than what you can on regular savers

that everyone misunderstood you.

If I put £500 per month into a regular saver paying 2%, I get £60 per year interest.
If I put £500 per month into a normal savings account paying 1%, I get £30 per year interest.

Therefore the 2% regular saver (and any RS paying >1%), pays more interest than a 1% savings account.

veryintrigued

dark.knight wrote: »

No need - last year i deposited 3600 @ 6% and i got 116.33 interest

116.33/3600*100 = 3.23% i.e more or less half of the quoted rate

If i'm missing something, please let me know

This is a wind up right?

typistretired

Kernel_Sanders wrote: »

I already hold a Virgin Money Regular E-Saver issue 2, but don't have my login details and don't think I can get them by the end of the month. Can I just open an issue 3 online?

If you ring them because you have forgotten your customer id they will help you and you can reset your passwords. I was a Northern Rock customer but destroyed all my paper work when I closed my accounts with them. When I applied as a new Virgin money customer a message came up stating that I was already a customer. I rang their help desk and explained about Northern Rock and they told me to ignore the system message and just press the continue button. I was allowed to set up a new account

typistretired

dark.knight wrote: »

Excuse me for being flippant but why would anyone have a regular saver that pays less than 2%. A basic calulation for the interest recieved is to half the interest and that its roughly what you'd get for a year i.e a 2% RS would net the equivalent of 1% after a year. You can get that in a number of savings account and save a lot more than what you can on regular savers

A lot of MSE forum followers including myself have maximised all outlets that pay more than 2%. Lloyds Club has now dropped to this rate. Therefore, any overspill goes into accounts paying 1%, 1.75% etc. So they transfer from these overspill accounts each month into the regular savers to boost interest.

Westie983

typistretired wrote: »

Fastest account I have opened in a long time. Opened an online account and the new regular saver issue 3 immediately. They gave details of account and sort number so was able to transfer £250 immediately. Interest is showing at 0.10% but their help section says the correct interest rate will show when funds have cleared next working day.

Vey happy, I now have all five issues, and my Issue 3 has been opened fully and received a letter in the post.

Now to wait to see what happens next month when the first batch of Santander RS mature, Lets see if they keep the 5%,


Westie983

Westie983

Kernel_Sanders wrote: »

I already hold a Virgin Money Regular E-Saver issue 2, but don't have my login details and don't think I can get them by the end of the month. Can I just open an issue 3 online?

Did you not get confirmation when you opened Issue 2 with the log on details and account numbers,

I opened Issue 3 a last week and got the letter in the post today, confirming it was now fully open and the details were included in the letter along with a standing order mandate.

Westie983

YorkshireBoy

Westie983 wrote: »

Now to wait to see what happens next month when the first batch of Santander RS mature, Lets see if they keep the 5%,

Keep it at 5%?...it's been 3% for months now, ever since they launched Issue 2 hasn't it?

ColdIron

Westie983 wrote: »

Now to wait to see what happens next month when the first batch of Santander RS mature, Lets see if they keep the 5%,

It's already 3%
http://www.santander.co.uk/uk/savings/regular-esaver