Regular Savings Accounts: The Best Currently Available List!

adfu

castle96 wrote: »

My £250 is still sitting there happily.

Same here. I guess quite a few people are in a similar situation and rather than dealing with it case by case they'll close the accounts in bulk. Just guessing though.

schiff

Ford Money's baby brother innit

colsten

castle96 wrote: »

Re Leeds RS 6.

Yes I see it now "cannot have 5 and 6". My £250 is still sitting there happily.

Will they return and close ? Should I withdraw or hope they dont notice !?

How would you withdraw without them noticing? There's no withdrawal option online so you'd have to go to a Branch.

Special_Saver2

Hi Folks,

I have completed this weekend's update.

- Replaced Leeds BS Regular Saver Issue 5 with Issue 6 in post 7

- Added Nottingham BS Special Special Regular Saver (Issue 5) in post 3 and pointed out the rather bad condition that Nottingham BS can reduce the interest rate and you are not allowed to withdraw any money until account maturity on 19th November 2018. Hopefully they would never do this but technically they could

I will do another update next weekend.

SS2

---

For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

mhoc

A question please.
I keep a record of the various amounts of interest from the regular savers, just to make sure I don't get over the £1000 personal savings allowance (very unlikely I know)

I get £3 a month from my Halifax current account - is this classed as interest, this monthly incentives for having £*** incoming and 2 direct debits etc.
On my statement's its says "reward" rather than interest

eskbanker

mhoc wrote: »

A question please.
I keep a record of the various amounts of interest from the regular savers, just to make sure I don't get over the £1000 personal savings allowance (very unlikely I know)

I get £3 a month from my Halifax current account - is this classed as interest, this monthly incentives for having £*** incoming and 2 direct debits etc.
On my statement's its says "reward" rather than interest

As they say, it's not interest, as it's a fixed amount payable regardless of how much you have in the account, so ignore this when looking at savings interest for PSA purposes....

someone

mhoc wrote: »

A question please.
I keep a record of the various amounts of interest from the regular savers, just to make sure I don't get over the £1000 personal savings allowance (very unlikely I know)

Why all the effort to avoid going over the £1000 PSA?

The tax payable will only be on what you additionally earn over £1000 and you may be only liable for a lower rate depending on your income.

On the other hand with a student loan and completing a self assessment every year I keep a watchful eye on £2000 "non earned income" limit before SLC will demand 9% of the full amount.

mhoc

someone wrote: »

Why all the effort to avoid going over the £1000 PSA?

The tax payable will only be on what you additionally earn over £1000 and you may be only liable for a lower rate depending on your income.

On the other hand with a student loan and completing a self assessment every year I keep a watchful eye on £2000 "non earned income" limit before SLC will demand 9% of the full amount.

no real effort, mostly its just annual interest so its just updating the chart on set days of the year.
Even now I still cant quite believe that HMRC thinks that this £1000 of interest is not worth the effort for them to collect.

No I didn't realise about this £2000 of non earned income for former students - is this everything - savings interest, share dividend, even ebay, amazon and car boot sales ????
I have 2 with student loans so this is relevant to them.

eskbanker

mhoc wrote: »

Even now I still cant quite believe that HMRC thinks that this £1000 of interest is not worth the effort for them to collect.

The personal savings allowance didn't come about because HMRC couldn't be bothered collecting it - it was a conscious government policy decision to offer an incentive to savers....

bigadaj

eskbanker wrote: »

The personal savings allowance didn't come about because HMRC couldn't be bothered collecting it - it was a conscious government policy decision to offer an incentive to savers....

...or a bribe to the large number of elderly voters who think shares and funds are gambling and so have very large amounts in savings and current accounts....