Regular Savings Accounts: The Best Currently Available List!

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.

Frogletina

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?

I don't think you are doing anything wrong, it doesn't make sense.

If you use the drip feed calculator and add nil to the regular saver each month, as grumbler has done, it shows you £25 interest whether you use the no tax or basic tax rate buttons.

However if you use 2% for the regular saver, and 200 a month, it tells you that you get

£12 normal saver
£26 regular saver

and a message to say that if you only had the normal saver you would get £25 (but only if you had chosen the no tax button)

If you had chosen the basic tax button, the message says that if you only had the normal saver you would get £12

So the calculator is calculating correctly, but the message is incorrect. Very odd.

frogletina

grumbler

Frogletina wrote: »

However if you use 2% for the regular saver, and 200 a month, it tells you that you get

£12 normal saver
£26 regular saver

and a message to say that if you only had the normal saver you would get £25 (but only if you had chosen the no tax button)

If you choose the basic tax button, the message says that if you only had the normal saver you would get £12

So the calculator is calculating correctly, but the message is incorrect.

I am getting £25 for both 'No tax' and 'Basic rate'