Regular Savings Accounts: The Best Currently Available List!

Pkman

I have principality first home step issue 1+2+3

Does anyone know what is the withdrawal restrictions..... 

I seem to remember some issue have no restrictions, whereas some have 60 days notice. 

If anyone have the PDF then that would be awesome thanks 

5.25% is the bottom of the RS pyramid interest rate for me. So I want to be able to withdraw if needed. 

soulsaver

Pkman said:

I have principality first home step issue 1+2+3

Does anyone know what is the withdrawal restrictions..... 

I seem to remember some issue have no restrictions, whereas some have 60 days notice. 

If anyone have the PDF then that would be awesome thanks 

5.25% is the bottom of the RS pyramid interest rate for me. So I want to be able to withdraw if needed. 

See links on page 1.

ForumUser7

Pkman said:

I have principality first home step issue 1+2+3

Does anyone know what is the withdrawal restrictions..... 

I seem to remember some issue have no restrictions, whereas some have 60 days notice. 

If anyone have the PDF then that would be awesome thanks 

5.25% is the bottom of the RS pyramid interest rate for me. So I want to be able to withdraw if needed. 

Just to flag, all First Home Steps at PBS (FHS 1, 2, 3, 4 and FHS Online 1, 2, 3) decreased to 5% from 5.25% on 12/09/2024.

Pkman

Yes you are correct. Might just stick it in 4.85% cahoot EA or 5% Chip EA

Bridlington1

Pkman said:

Yes you are correct. Might just stick it in 4.85% cahoot EA or 5% Chip EA

I'd advise against it to be honest.

For starters 4.85% is less than 5% so why go to the effort to get 0.15% less interest on the money. 

As for Chip, if given the choice between putting money into an EA account at 5% or a regular saver that allows penalty-free withdrawals at 5% I'd favour funding the regular saver.

You can empty a regular saver into an EA account in one fell swoop if you wish, but drip-feeding the contents of the EA account into a regular saver can take several months.

Pkman

Reason is 5% chip only allow 3 time withdraw. I need withdraw every month. 

I am just parking these money (4.85%) till each month RS funding which i need £7375 for 29 RS (5.1% to 10.38%)

I disagree with putting money into 5% RS is better than 5% EA. The only reason you do this is if you expect RS interest rate is going up and EA going down. Otherwise it is a bit pointless. You are getting the same %

masonic

Pkman said:

Reason is 5% chip only allow 3 time withdraw. I need withdraw every month.

Chip might restrict withdrawals, but Principality does not. That was the point Bridlington was making. Why move it from 5% RS EA to 4.85% EA?

Pkman

I wasn't. I was thinking adding onto 5% RS. But instead. I will just leave the money in 4.85% EA till November RS funding.

jameseonline

My overspill is currently a 5.25% Lloyds Bank Regular & 5.5% Bank Of Scotland Regular, both I can take out of whenever I want.

But in general I'm only funding accounts 6% and higher.

masonic

Pkman said:

I wasn't. I was thinking adding onto 5% RS. But instead. I will just leave the money in 4.85% EA till November RS funding.

So the money is already in the 4.85% EA account (contrary to the comment saying "Might just stick it in 4.85% cahoot EA")? In that case it would still be beneficial to add what you can into the 5% RS until November, as that would result in more interest and not burn one of the three precious withdrawals at Chip.