Regular Savings Accounts: The Best Currently Available List!

maximise

Hi I have a question regarding the Barclays reg saver (6%) - how do you do check your balance? It seems a Barclays current account is required to sign up to internet banking, this I do not have.

KTF

If you already have online banking then you can see the balance there otherwise you have to go to the branch to get balance updates.

atypical

maximise wrote: »

It seems a Barclays current account is required to sign up to internet banking, this I do not have.

If I remember correctly it was posted somewhere (can't find it now) that you can also open an e-savings account to get online access to the monthly savings account.

Baldur

atypical wrote: »

If I remember correctly it was posted somewhere (can't find it now) that you can also open an e-savings account to get online access to the monthly savings account.

See http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=homefreegroup&value=12244

To open e-savings you need a Barclays current account. You can apply for a Barclays current account online.

jimbow25

atypical wrote: »

If I remember correctly it was posted somewhere (can't find it now) that you can also open an e-savings account to get online access to the monthly savings account.

I and some others discussed this here.

Baldur - the account needed to get online banking access is 'e-savings reward' which does not require a current account.

cashbackproblems

Jon_Skint_Smith wrote: »

:j
Barclays still do a "monthly saver" a/c which still pays 6.0% FIXED for 1yr on up to £250 per month. They don't seem to advertise it much, but it can be found on their web site (when it works). I even had to get the manager at my local branch to check as he thought that this account would have been long deleted! Grab it while its still there!!

This is probably currently the best rate but you can only invest 3k throughout the year, so if you put the max in per month (250) you will only get 96 pounds after 12months. SO if you have the money now waiting to be invested, you will get more interest going for a 1yr icici fixed acc at 3.9%.

use mse calculator, 3k at 3.9% will give you a profit of 117.00p.

Baldur

cashbackproblems wrote: »

This is probably currently the best rate but you can only invest 3k throughout the year, so if you put the max in per month (250) you will only get 96 pounds after 12months. SO if you have the money now waiting to be invested, you will get more interest going for a 1yr icici fixed acc at 3.9%.

use mse calculator, 3k at 3.9% will give you a profit of 117.00p.

You are forgetting to include any interest earned on the lump sum while it's waiting to be fed into the regular saver.

cashbackproblems

Baldur wrote: »

You are forgetting to include any interest earned on the lump sum while it's waiting to be fed into the regular saver.

No im not! That is the total that will be paid upon maturity and is given on their site, interest is only accrued on the monthly basis and even if you do (which you dont) earn interest in those 2/3 days it takes to transfer, it will certainly not be at 6% and the amount will be pennies!

rb10

cashbackproblems wrote: »

No im not! That is the total that will be paid upon maturity and is given on their site, interest is only accrued on the monthly basis and even if you do (which you dont) earn interest in those 2/3 days it takes to transfer, it will certainly not be at 6% and the amount will be pennies!

No, you misunderstand what Baldur rightly pointed out.

If you now have £3000 to put somewhere, then you can either:

(i) Put it all into one account, so if you, say, earnt 3.5% on this, you would get £105 interest at the end of the year.

OR

(ii) Drip-feed it into the Barclays Regular Saver, so you'd get £97.50 from the Regular Saver at the end of the year, PLUS interest earnt on wherever you kept the money before you put it in the Regular Saver. It's this interest that you forgot in your calculation.

cashbackproblems

rb10 wrote: »

No, you misunderstand what Baldur rightly pointed out.

If you now have £3000 to put somewhere, then you can either:

(i) Put it all into one account, so if you, say, earnt 3.5% on this, you would get £105 interest at the end of the year.

OR

(ii) Drip-feed it into the Barclays Regular Saver, so you'd get £97.50 from the Regular Saver at the end of the year, PLUS interest earnt on wherever you kept the money before you put it in the Regular Saver. It's this interest that you forgot in your calculation.

Ok..but that interest earned will still amount to about the same and the 1yr fixed you can get as high as 4%+. I guess it depends on where it was beforehand and the numbers, i was thinking in my case its in my hsbc current account earning 0.1%!