Regular Savings Accounts: The Best Currently Available List!

Zebra

oldfella wrote: »

if you dont open it on the first, the first month is taken to be that month and the following month. Therefore you cant deposit more than £250 in the first month. You do best to open it on the 2nd as you get 5% for 13 months - but you cant exceed £3000 over the period.

Thanks Oldfella.

So if I open an account on the 5th October and deposit £250, when's the next date that I can deposit - 1st November or 1st December?

oldfella

1st December

Biggles

Lokolo wrote: »

Interest will raise lower than interest gained if savings rates are higher than mortgage rates.

Say you have £1000.

Interest on mortgage is 1%
Savings interest is 2%

My point exactly. I was talking about the (much more likely scenario, long-term) of

Interest on mortgage 6%
Interest on savings 4% (less tax).

Lokolo

Biggles wrote: »

My point exactly. I was talking about the (much more likely scenario, long-term) of

Interest on mortgage 6%
Interest on savings 4% (less tax).

Oh right I seee yeh ok that makes sense

LongTermLurker

Some of us feel (almost, perversely) lucky to have an offset mortgage with Egg, who have barely reduced their interest rate - I think it's still about 5.25% - at least it makes knowing where to put your money easy enough...

For a high rate taxpayer, it would take an 8.75% savings a/c to match that.

Pandora123_2

jimbow25 wrote: »

It may be worth highlighting this about the Halifax Regular Saver, as mentioned in another thread:

"Hurry, rate ends 8 October. You must open and fund your Regular Saver account by 8 October 2009 to qualify for this rate."
http://www.halifax.co.uk/savings/regularsaver.asp

Presumably they would only say this before the rate going down, not up.

I spoke with someone at Halifax today and asked if the interest rate would be going down or up after the 8th, and they said the account was being withdrawn.

apt

I would be surprised if the Halifax employee is correct as regular savers are a way of getting in money and the Halifax doesn't have any other regular saving account for adults apart from the utterly useless Monthly Saver (pays 0.35% including bonus). On the website it says that the rate is ending.

anna42hmr

unless halifax are planning on withdrawing the account and launching a new reg saver account in a couple months or something for the publicity that a new account that can get?

hopefully they have a decent rate in place by mid december for this account as thats when my halifax reg saver ends, else will have to find a new one to open

samizdat

samizdat wrote: »

Just to say that Egg has dropped the savings rate for new accounts (accounts opened on 15 September 2009 or later) from 3.25% to 2.50%. This has been achieved by reducing the fixed 12-month introductory bonus from 2% to 1.25%, leaving the underlying variable rate at 1.25%.

Please update the "Best Feeder Accounts" section.

Sorry to bang on about a sub-par feeder account but the Egg account is listed as paying no interest on balances above £100,000, whereas the threshold is actually £1,000,000 (one million pounds). It is worth remembering that there has been an interest-earning limit of £100,000 in place at various times on Egg introductory bonus offers but not in this case.

See http://new.egg.com/visitor/0,,3_94368--View_2081,00.html .

Special_Saver2

Thanks for your post. My entry was correct when I wrote it. I did not know that the upper limit had changed since then from £100,000 to £1,000,000. I have corrected the entry in post 9 to show the limit is now £1,000,000. Thanks for pointing out the current situation.

SS2

samizdat wrote: »

Sorry to bang on about a sub-par feeder account but the Egg account is listed as paying no interest on balances above £100,000, whereas the threshold is actually £1,000,000 (one million pounds). It is worth remembering that there has been an interest-earning limit of £100,000 in place at various times on Egg introductory bonus offers but not in this case.

See http://new.egg.com/visitor/0,,3_94368--View_2081,00.html .