Regular Savings Accounts: The Best Currently Available List!

Steve_xx

steve65e wrote: »

No, the actual maximum balance is 6k + accrued interest, according to the (paper) t&cs I have. So you don't have to allow for the interest.

(Many thanks btw to whoever flagged this up first. I't hadn't occurred to me and I probably would have blown my bonus in year 3)

You may not get as far as year 3. Leeds have a habit of terminating these accounts if they perceive that they're paying interest over the odds!

mhoc

Steve_xx wrote: »

You may not get as far as year 3. Leeds have a habit of terminating these accounts if they perceive that they're paying interest over the odds!

That was my initial thought, that they just would not let the account run for a full three years.
Issue three was terminated but at least they have allowed us to keep the account open and earning until October so quite possibly this is what will happen with Issue four .
(Maybe if issue 5 is an over whelming success they will shut down issue 4??? )

steve65e

Steve_xx wrote: »

You may not get as far as year 3. Leeds have a habit of terminating these accounts if they perceive that they're paying interest over the odds!

Which would make our entire discussion academic!

schiff

Steve_xx wrote: »

You may not get as far as year 3. Leeds have a habit of terminating these accounts if they perceive that they're paying interest over the odds!

The OP said they were planning another RS shortly which isn't the attitude of a society withdrawing from the fight!

There is a report today highlighting the dramatic fall in the % of income being 'saved' generally, as austerity bites even harder. Maybe the market is responding, trying to attract more funds in a decreasing market?

Steve_xx

schiff wrote: »

The OP said they were planning another RS shortly which isn't the attitude of a society withdrawing from the fight!

There is a report today highlighting the dramatic fall in the % of income being 'saved' generally, as austerity bites even harder. Maybe the market is responding, trying to attract more funds in a decreasing market?

I'm not implying that they are "withdrawing from the fight". But they have, on several occasions, terminated these open-ended type regular saver accounts when it seems that punters are earning nicely from them due to fair sized deposits having accumulated in them.

However, on this occasion it may well not need to run to the third year, ie if there's a hike in rates then suddenly this account may not be so attractive as it seems today!

GreenBitterfly

Thanks for the information about the Leeds Building Society RS. After them closing the Issue 1 and 2 accounts, and given Issue 4 is no longer for sale, I keep expecting to receive a letter about them closing that particular issue.

karlie88

My Cambridge BS (issue 4) reg saver matured today - funds sent over via FP to my current account. As alluded to previously, they do a check via Equifax beforehand.

Upcoming launch of Leeds BS reg saver is good timing. May be a busy July, especially if Virgin launch another 2 reg savers...

Special_Saver2

Hi Folks,

I cannot see anything that has changed for this weekend's update. I will add the new Leeds BS account after it has launched.

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

arsenalboy

karlie88 wrote: »

My Cambridge BS (issue 4) reg saver matured today - funds sent over via FP to my current account. As alluded to previously, they do a check via Equifax beforehand.

Upcoming launch of Leeds BS reg saver is good timing. May be a busy July, especially if Virgin launch another 2 reg savers...

Did you have to pay for FP?

I have the same account which matures in a couple of weeks. They have sent me a maturity instruction form which only gives option of cheque?

mgarl10024

arsenalboy wrote: »

Did you have to pay for FP?

I have the same account which matures in a couple of weeks. They have sent me a maturity instruction form which only gives option of cheque?

I had to add a 'nominated account' which required them to do an ID check and possibly see a statement, and then they'd do the FP for free. My account hasn't reached maturity yet, but when it does, I'll see if it works!