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Regular Savings Accounts: The Best Currently Available List!
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Kazza242 said:Principality Building Society are launching a new '6 Month Regular Saver', paying 8.00%.
Pay in £1 - £200 per month. The maximum investment is £1,200.
The account does not permit withdrawals before maturity, though earlier access is available by closing the account.
It is available to open online or via branch. The account will mature after 6 months.
Once launched, the account should appear on the Principality BS website, here.
(The application page for the account is at the following link here but it's probably best to wait for the account to officially launch first. I will edit this post later in the morning to include the link to the account details page).
Got like 3 regular savings accounts with them already 🤣, 2 @ £50 a month and their standard at £250 a month, plus accounts elsewhere, need to wait before starting anything new.
How did you find out about the new account?1 -
Not worth getting overly excited about.
It pays out £27 in interest.1 -
subjecttocontract said:Not worth getting overly excited about.
It pays out £27 in interest.4 -
Agreed, but a lot of people can't count, they will see the 8% headline and think they are onto a winner.
Still....not as bad as their Healthy Habits a/c (that pays just £19pa) or their Triple Access (that pays just £20pa).2 -
jameseonline said:Kazza242 said:Principality Building Society are launching a new '6 Month Regular Saver', paying 8.00%.
Pay in £1 - £200 per month. The maximum investment is £1,200.
The account does not permit withdrawals before maturity, though earlier access is available by closing the account.
It is available to open online or via branch. The account will mature after 6 months.
Once launched, the account should appear on the Principality BS website, here.
(The application page for the account is at the following link here but it's probably best to wait for the account to officially launch first. I will edit this post later in the morning to include the link to the account details page).
Got like 3 regular savings accounts with them already 🤣, 2 @ £50 a month and their standard at £250 a month, plus accounts elsewhere, need to wait before starting anything new.
How did you find out about the new account?Please call me 'Kazza'.5 -
Kazza242 said:jameseonline said:Kazza242 said:Principality Building Society are launching a new '6 Month Regular Saver', paying 8.00%.
Pay in £1 - £200 per month. The maximum investment is £1,200.
The account does not permit withdrawals before maturity, though earlier access is available by closing the account.
It is available to open online or via branch. The account will mature after 6 months.
Once launched, the account should appear on the Principality BS website, here.
(The application page for the account is at the following link here but it's probably best to wait for the account to officially launch first. I will edit this post later in the morning to include the link to the account details page).
Got like 3 regular savings accounts with them already 🤣, 2 @ £50 a month and their standard at £250 a month, plus accounts elsewhere, need to wait before starting anything new.
How did you find out about the new account?subjecttocontract said:Agreed, but a lot of people can't count, they will see the 8% headline and think they are onto a winner.
Still....not as bad as their Healthy Habits a/c (that pays just £19pa) or their Triple Access (that pays just £20pa).
My savings earn more interest in an account paying 8% than they do in an account paying 5.5%, thus it makes sense for me to empty the remaining balance of my Skipton Member Bonus Saver (barring £1) and put it in the 8% regular saver.13 -
subjecttocontract said:Agreed, but a lot of people can't count, they will see the 8% headline and think they are onto a winner.
...Why do you think they "can't count", or wouldn't be "onto a winner"?Having £1 in an account earning 8% pa is better than having the £1 in an easy access account earning (say) 5%. Each of those pounds can earn a little bit more interest.So the total extra interest is not vast, not enough to retire on certainly, but for those of us who see RS accounts as a bit of fun or a challenge the small amount of effort needed to earn that little bit extra is a 'win'.It is fine to say "I don't think the effort is worthwhile" (if anyone feels the effort of posting something like that is a productive use of their time), but it is wrong to suggest people wanting to gain that little bit extra "can't count", nor to suggest there is no net benefit from opening the account.(Edit: The account is listed on Principality's site now. For those unsure, note that Principality say "We can stop accepting applications at any time".)9 -
If there's one thing we're guaranteed, it's that having a multi-page debate about whether Regular Savers are worth the effort or not will be very productive.15
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jim1999 said:If there's one thing we're guaranteed, it's that having a multi-page debate about whether Regular Savers are worth the effort or not will be very productive.
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jameseonline said:Kazza242 said:Principality Building Society are launching a new '6 Month Regular Saver', paying 8.00%.
Pay in £1 - £200 per month. The maximum investment is £1,200.
The account does not permit withdrawals before maturity, though earlier access is available by closing the account.
It is available to open online or via branch. The account will mature after 6 months.
Once launched, the account should appear on the Principality BS website, here.
(The application page for the account is at the following link here but it's probably best to wait for the account to officially launch first. I will edit this post later in the morning to include the link to the account details page).
Got like 3 regular savings accounts with them already 🤣, 2 @ £50 a month and their standard at £250 a month, plus accounts elsewhere, need to wait before starting anything new.
How did you find out about the new account?
You could maximise your Principality interest by missing one or two £250 payments (this is allowed) to standard RS (@5.5% ?) and instead put £200 into 6 month RS@8% and if you haven`t got £200 to put in this month you probably would be ok waiting to beginning of next month before opening RS@8% and first deposit of £200 when you have the money.
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