Regular Savings Accounts: The Best Currently Available List!

ColdIron

Bobblehat wrote: »

I did a quick spreadsheet and got the interest to be £16.25 ... not £15.

You could use the MSE Regular Savings Calculator (which gives £16.19 )

Bobblehat

Thanks Airliebird .....I see, I think! Are they saying if you open the account on 1st Jan, but not deposit anything until 15th of Jan (£100), you'd have £15 interest on the next 1st Jan?

Just to make sure I have the hang of this ... If I open the account on 15th Jan and make the first deposit (£100) on 15th Jan, then after a year on the next 15th Jan I would get £16.25/£16.19?

I do know about the MSE RSC ColdIron, but just wanted to play with the numbers myself

polymaff

Bobblehat wrote: »

Thanks Airliebird .....I see, I think! Are they saying if you open the account on 1st Jan, but not deposit anything until 15th of Jan (£100), you'd have £15 interest on the next 1st Jan?

Depends upon when you make the other payments.

Bobblehat wrote: »

Just to make sure I have the hang of this ... If I open the account on 15th Jan and make the first deposit (£100) on 15th Jan, then after a year on the next 15th Jan I would get £16.25/£16.19?

The guideline for a regular saver funded regularly from day one is that the interest actually earned is 13/24 times the advertised rate.

13/24 times 0.025 times £1200 equals £16.25

Bobblehat

ffanks polymaff

I was darn close with £16.25 then! I don't know why, but the BOS RS sounds just that bit better at £16.25 than at £15 ...... even £16.19 is not bad :whistle:

Mee

Re: Lloyds CL c/a and MS
Not yet as it is one I plan to keep as long as free cinema tickets are available.
Good to know how others get on...

Special_Saver2

Hi Everybody,

Here is this weekend's update. I have checked every account on the first page of this thread and found the following changes.

- Progressive BS Clockwork Regular Saver Issue 2 interest rate increased by 0.1% to 1.6%
- Chorley BS Children's Regular Saver interest rate increased by 0.25% to 2.25%
- Halifax Kids' Regular Saver interest rate increased by 0.5% to 4.5%
- Halifax Regular Saver interest rate increased by 0.5% to 2.5%
- Lloyds Bank Club Lloyds interest rate increased by 0.5% to 3%
- Cumberland BS Regular Saver (issue 3) interest rate increased by 0.5% to 2.3%
- Bank of Scotland Monthly Saver interest rate increased by 0.5% to 2.5%
- Lloyds Bank Club Lloyds interest rate increased by 0.5% to 2.5%
- Leeds BS Regular Saver (Issue 9) replaced with issue 10 paying 0.25% higher at 2.55%
- Hanley Economic BS Home Deposit Saver interest rate increased by 0.1% to 2.95%
- Cumberland BS Regular Saver (Issue 3) account interest rate increased by 0.25% to 2.3%

I will do another update the weekend after next.

SS2

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For those new to this thread, the first few posts are constantly updated and are here

mgarl10024

Special_Saver2 wrote: »

- Lloyds Bank Club Lloyds interest rate increased by 0.5% to 3%
- Lloyds Bank Club Lloyds interest rate increased by 0.5% to 2.5%

Great work Special_Saver2.

I think the second one is supposed to not have the 'club' bit.

Incidentally, if someone has the club monthly saver, can they at the same time have a monthly saver?

YorkshireBoy

mgarl10024 wrote: »

Incidentally, if someone has the club monthly saver, can they at the same time have a monthly saver?

Yes they can.

eastofeden

What about holding both a Halifax RS and a BOS RS? When I log into my Halifax account and try to open a BOS RS it tells me that this product is not available to me ( I have a Halifax RS).
I’ve looked in T’s and C’s but can’t find anything about not holding both?

Big_W

eastofeden wrote: »

What about holding both a Halifax RS and a BOS RS? When I log into my Halifax account and try to open a BOS RS it tells me that this product is not available to me ( I have a Halifax RS).
I’ve looked in T’s and C’s but can’t find anything about not holding both?

Both I and my wife have both. I assume the problem is with trying to open a BOS account from the Halifax website, even though both banks products are visible.