Regular Savings Accounts: The Best Currently Available List!

brewerdave

grumbler wrote: »

Why the exclamation mark? Any other bank allowing you to have more than one regular saving accounts with enhanced rate?
Yes, you made the last deposit - and you are earning the high rate on it, as well as on the previous ones.

...because they will graciously allow me to continue paying into the previous regular saver (if I am stupid enough to do so) even tho' it will only earn 0.1% after April 13th - can't see why I can't open a new reg. saver now with a deposit date after the 13th -the last one was opened on 13th(presumably) altho' the first deposit wasn't made until 18th.

colsten

brewerdave wrote: »

Santander won't let me open the Issue 4 until my previous reg. saver ( issue 1)matures on 13th April, even tho' I've made the 12 monthly deposits!

Where in the T&Cs does it state you will be allowed to open another reg esaver once you have made 12 deposits?

colsten

ColdIron wrote: »

My Issue 4 showing 5% online, ta very much Santander

Same here..................

grumbler

brewerdave wrote: »

...because they will graciously allow me to continue paying into the previous regular saver (if I am stupid enough to do so)

Don't be stupid then, especially as they inform you and it will be a different account after 12 months:

Santander wrote:

At the end of term
We’ll contact you around 14 days before maturity to tell you your options. If we don’t hear from you we will transfer your account to an Everyday Saver

And, when setting a SO up, it's you who sets the last payment date (or the number of payments).

can't see why I can't open a new reg. saver now with a deposit date after the 13th -the last one was opened on 13th(presumably)

What do you gain by opening it now if you deposit after 14th? In fact you'll be getting 5% for less than 12 months, i.e. potentially lose interest if they don't offer 5% again in a year.

Neil_Jones

Interesting observation on the Santander website, they now have an Issue 5 regular eSaver which pays 2.5% normally or 5% for 123 World customers. This appears to have replaced Issue 4 completely.

dc_scotland

The new Santander Issue 5 has a 5% fixed rate for 123 customers.
http://www.santander.co.uk/info/savings/regular-esaver

SallySunshine

i opened one last night, with the first standing order to come out today.
Just checked, and it is Issue 4 at 5% with the payment going out a couple of hours ago

KTF

Opened one today. Appeared on online banking a few minutes later and funded with the £200.

Just finished setting up the standing order for the remaining 11 payments starting on May 3.

10_66

Can anyone confirm for me please, I've just been using the MSE regular savings tool (for drip feeding), for OH. The calculation for basic rate tax payer seems to be taking off around 50%. I'm sure I must be doing something wrong! If say £2400 had been left in a normal account @1.05% for 12 months, it's saying only £12 interest would be earned. If you select no tax, it comes up with the correct £25.20. Where am I going wrong?

grumbler

10_66 wrote: »

Can anyone confirm for me please, I've just been using the MSE regular savings tool (for drip feeding), for OH. The calculation for basic rate tax payer seems to be taking off around 50%. I'm sure I must be doing something wrong! If say £2400 had been left in a normal account @1.05% for 12 months, it's saying only £12 interest would be earned. If you select no tax, it comes up with the correct £25.20. Where am I going wrong?

Basic rate,1 year, 1.05%, £2400, 5%, £0 p.m. :

After drip-feeding the cash for 12 months... Total interest earned: £25
£25 from the normal savings & £0 in the regular saver.
If you'd kept the money only in the normal savings account you'd have earned £25 in interest.