Are regular savers worth it?

george4064

specialhat wrote: »

I was really asking why it's worth tying up your money for a year or more for such a poor return. (The regular saver I was looking at - HSBC - doesn't allow withdrawals until the end of the term.)

It does allow withdrawals, albeit only full withdrawal: https://www.hsbc.co.uk/savings/products/regular-saver/

Fixed term accounts you cannot make a withdrawal (partial or full) under any circumstances.

Also, the 'best' account(s) for someone with a lump sum of £6,000 might be different for someone who can save £500 a month for the next 12 months. E.g. fixed term account vs (instant access savings account + regular saver). Also there may be a preference for instant access or not, depending on the individual.

tommyedinburgh

We usually have four or five regular savers on the go at one time, maybe generates in the region of £200-£250ish - not actually sure.


I support it just comes down to the individual, is £250 worth it type of thing?