Regular Savings Accounts: The Best Currently Available List!

35har1old

gt94sss2 said:

Bridlington1 said:

It appears in addition to replacing the tiered interest of their First Home Steps Account with a flat rate of 5.25%, Principality BS will soon be launching a First Home Steps Account Online Issue 3 to replace Issue 2.

Now on their website at https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-Online

Their is also a branch/agency version

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-account

Restricted to first time buyers

Rawrzy

I was going to open the club lloyds regular saver but I noticed the money needs to be in the account before the 25th? Does that mean if I open it and deposit money now it's going to count towards the next month instead? I've never seen a regular saver require you to pay in before a certain date.

ColdIron

It's just guidance for SOs and holidays and weekends. You should be fine with a manual initial transfer and SOs on the first thereafter

schiff

Deposit today or on 30th or 31st. And again in November from the 1st. You'll be OK.

allegro120

Rawrzy said:

I was going to open the club lloyds regular saver but I noticed the money needs to be in the account before the 25th? Does that mean if I open it and deposit money now it's going to count towards the next month instead? I've never seen a regular saver require you to pay in before a certain date.

I think this a precautionary measure for standing orders to make sure that SO will always pay before the 1st of the month (e.g. if last few days in February fall on weekend you SO can miss the deadline). You don't have to do SO, you can just transfer or pay into regular saver before the 1st of the month.

Rawrzy

Great, thanks all, that makes sense.

AmityNeon

Rawrzy said:

I was going to open the club lloyds regular saver but I noticed the money needs to be in the account before the 25th? Does that mean if I open it and deposit money now it's going to count towards the next month instead? I've never seen a regular saver require you to pay in before a certain date.

Transfers over weekends and bank holidays will have a deposit date of the next working day (although they will still earn interest from the day funds are actually credited to the account). If the next working day happens to fall in the next month, those deposits will count for the next month's contributions. E.g. Deposits on 29th/30th April 2023 (a weekend) will count towards May's contributions.

Rawrzy

AmityNeon said:

Rawrzy said:

I was going to open the club lloyds regular saver but I noticed the money needs to be in the account before the 25th? Does that mean if I open it and deposit money now it's going to count towards the next month instead? I've never seen a regular saver require you to pay in before a certain date.

Transfers over weekends and bank holidays will have a deposit date of the next working day (although they will still earn interest from the day funds are actually credited to the account). If the next working day happens to fall in the next month, those deposits will count for the next month's contributions. E.g. Deposits on 29th/30th April 2023 (a weekend) will count towards May's contributions.

Yeah, I'm aware of that. The thing with the Lloyds account is they mention the money has to be in the account by the 25th as if its a requirement set by them, not them just warning you about how deposits or standing orders can work. That's why I asked the question really.

AmityNeon

Rawrzy said:

AmityNeon said:

Rawrzy said:

I was going to open the club lloyds regular saver but I noticed the money needs to be in the account before the 25th? Does that mean if I open it and deposit money now it's going to count towards the next month instead? I've never seen a regular saver require you to pay in before a certain date.

Transfers over weekends and bank holidays will have a deposit date of the next working day (although they will still earn interest from the day funds are actually credited to the account). If the next working day happens to fall in the next month, those deposits will count for the next month's contributions. E.g. Deposits on 29th/30th April 2023 (a weekend) will count towards May's contributions.

Yeah, I'm aware of that. The thing with the Lloyds account is they mention the money has to be in the account by the 25th as if its a requirement set by them, not them just warning you about how deposits or standing orders can work. That's why I asked the question really.

It's just a misleading approximation. What they mean is monthly deposits must reach the account by the last working day of the month.

dealyboy

@AmityNeon ... it's good to see you back