Regular Savings Accounts: The Best Currently Available List!

SuperHans1

schiff said:

Coventry
I would be interested to know when the folk who got around £68 opened their accounts. My first deposit was 1/10/19 and subsequent deposits were made on the FWDOTM as usual. I got £66.56, 3p more than expected. It takes a lot of days at 2.5% on £500 to make up that difference! 

I also made a first deposit of £10 on 1/10/19, £490 on 3/10/19, but then made the 11 remaining deposits of £500 on the 1st of each month using a combination of SO and FP. Coventry have said I am due £67.91 interest.

A little bit of extra admin to set up the payments but it did earn me a massive £1.35 in extra interest

pafpcg

schiff said:

I would be interested to know when the folk who got around £68 opened their accounts. My first deposit was 1/10/19 and subsequent deposits were made on the FWDOTM as usual. I got £66.56, 3p more than expected. It takes a lot of days at 2.5% on £500 to make up that difference! 

Like Colsten, my partner & I made our first CoventryBS Regular Saver investment on 27-Sep-2019 and the accounts matured on 26-Sep-2020 with interest of £68.39.  Monthly contributions were made on the 27th or the first working day thereafter - weekends caused an aggregate delay of three days during the year.  Perhaps there were more delays if contributions were made on the 1st?
Edit: By my calculation, paying monthly calculations on the 1st would have been delayed by an aggregate of six days from 1-Oct-2019 to 1-Sep-2020.

Unlike Colsten, we had to wait until midday for the matured funds to be credited to our bank accounts!

rachlikeswinter

I might have to withdraw my Coventry BS Reg Saver funds before maturity (to use as part of my flat deposit, which has happened quicker than expected!) I know that I will have the 30 day interest penalty by withdrawing before maturity, but does anyone know if that will mean I'll lose ALL interest due to me, plus the 30 day penalty amount? Or will I get whatever interest is due up to that point, minus the 30 day penalty?
For ref it would mature in Feb normally. Either way not a lot I can do, just curious as every penny counts!

schiff

pafpcg said:

Unlike Colsten, we had to wait until midday for the matured funds to be credited to our bank accounts!

That must have been tough, really really tough. I hope you've both got over it.  

typistretired

That must have been tough, really really tough. I hope you've both got over it.  

You have to remember we are living in stressful times especially as we are being threatened with negative interest rates

PS I received £68.16 as I do not use standing orders and was late paying in on a couple of months.

colsten

pafpcg said:  

.

Unlike Colsten, we had to wait until midday for the matured funds to be credited to our bank accounts!

Thoughts and prayers 🥳

where_are_we

£67.25 interest - account opened 28/9/19. Used the account closure option instead of withdrawal of funds - no need to keep an account paying .3% open. Whilst logged in opened new RS3 @ 1.55% variable - quick and easy - deposited £500 by FP and set up 11 monthly SO`s £500 from hub account - don`t forget it`s not calendar months but anniversary months and use last 8 digits of your new 9 digit account number. I presume if they drop the interest rate you will be able to withdraw balance with no loss of interest?

typistretired

That may be a good rate in a few months.  Remember when we used to think 1.00% was awful.

grumiofoundation

where_are_we said:

£67.25 interest - account opened 28/9/19. Used the account closure option instead of withdrawal of funds - no need to keep an account paying .3% open. Whilst logged in opened new RS3 @ 1.55% variable - quick and easy - deposited £500 by FP and set up 11 monthly SO`s £500 from hub account - don`t forget it`s not calendar months but anniversary months and use last 8 digits of your new 9 digit account number. I presume if they drop the interest rate you will be able to withdraw balance with no loss of interest?

30 day interest penalty to withdraw for coventry reg. saver.

polymaff

typistretired said:

That may be a good rate in a few months.  Remember when we used to think 1.00% was awful.

Only late August on the Virgin Regular thread for your good self, eh?

polymaff: "Gosh, what nihilst opinions.  A £1 marker offers you 1% fixed rate for over a year.". ...