Regular Savings Accounts: The Best Currently Available List!

subjecttocontract

It's because we are all different and have different opinions and views. Whilst I won't be bothering to claim my extra £1.32 I will, as the saying goes, most definitely, defend your right to do exactly the opposite if you want to.

Don't spend it all at once.

happybagger

Seems like Gatehouse will have thought it simpler and cheaper, both financially and in staff hours, to do this than dish out a load of minor compo claims. 

janusd

SJMALBA said:

janusdesign said:

subjecttocontract said:

I opened my account & paid the first payment on 29/11/23. I made the next 11 payments from 6/12/23 onwards. The account ends on 29/11/24. I could have made a 13th payment on 6/11/24.

So, an extra 23 days interest = £1.32 hardly seems worth the effort.

if I use the MSE RS calculator, £300 for 12 months @ 7% comes to £135 interest/profit (which more or less tallies with the Gatehouse PDF document example from last November)... if I calculate £300 for 13 months @ 7%, it comes to £158.

assuming the 13th payment is accepted now (should get confirmation just after 1pm), i'll find out at the end of November what the true amount of interest will be.

It's 13 deposits, rather than 13 months - in my case, 1st deposit 30.11.23, 13th deposit 1.11.24, with maturity 30.11.24.

aahh 13 months... schoolboy error on my part... accept my apologies for the confusion and consider me admonished! 
13th payment has now been accepted.

bigjoe

Only just discovered this thread. Wow just Wow! Thank you to OP for the work put in updating the first few pages and to all posters who are helping me and others earn more from savings.

Bigwheels1111

Just checked with Gatehouse and told ( NO )  to a 13th payment.

I see a bit of fun in my near future.

I love a complaint.

simonsmithsays

subjecttocontract said:

I opened my account & paid the first payment on 29/11/23. I made the next 11 payments from 6/12/23 onwards. The account ends on 29/11/24. I could have made a 13th payment on 6/11/24.

So, an extra 23 days interest = £1.32 hardly seems worth the effort.

Absolutely right

And given that most (savvy savers on here) will be storing that 'missing payment' in an easy access of around 5% it's a matter of pence lost.

Some love confrontation though and, rather than picking their fights, will be disappointed that they (by now allowing the 13th payment and trying to mitigate) not be able to lodge a complaint though...

PloughmansLunch

Bigwheels1111 said:

Just checked with Gatehouse and told ( NO )  to a 13th payment.

I see a bit of fun in my near future.

I love a complaint.

13th payment definitely works now - I'll probably treat myself to a bag of crisps with the extra interest

Bigwheels1111

PloughmansLunch said:

Bigwheels1111 said:

Just checked with Gatehouse and told ( NO )  to a 13th payment.

I see a bit of fun in my near future.

I love a complaint.

13th payment definitely works now - I'll probably treat myself to a bag of crisps with the extra interest

They just called me back and said I can make the 13th payment again.

But not sure if interest would be backdated to the first, well that's the next complaint on my list.

Another call back, Interest will be backdated to the 1st of the month.

CuparLad

PloughmansLunch said:

13th payment definitely works now - I'll probably treat myself to a bag of crisps with the extra interest

Not a bigger chunk of cheddar, or upgraded pickle, or extra pork pie? Not wishing to dish the humble crisp, but aren't there tastier ways to spend the extra interest?

subjecttocontract

Kazza242 said:

Following today's Bank of England decision to reduce the base rate from 5.00% to 4.75%:

Principality BS have announced that they will be reducing the interest rate on their First Home Steps regular saver accounts by 0.15%, from 5.00% to 4.85%, with effect from 5th December 2024.

First Home Steps Online (issue 3)

First Home Steps - branch based (issue 4)

They will also be reducing their 1 Year Triple Access Regular Saver rate from 5.75% to 5.60% on the same date.  

1 Year Triple Access Regular Saver 

That's a bit quick off the mark from Principality.......just over an hour since BoE announcement.
Are they usually that quick when interest rates go up ?