Regular Savings Accounts: The Best Currently Available List!

flaneurs_lobster

castle96 said:

- Principality BS 6 Month Regular Saver (Issue 2) replaces issue 1 with the same details (7.85% gross p.a. / 8% gross AER fixed on up to £200 per month for 6 months with no withdrawals allowed apart from early closure); you should be able to hold this in addition to a previous issue as the terms and conditions state: "This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver Bond in your name."

JUst tried - an auto "NO"

Just tried what? Opening an issue 2 when holding an issue 1?

castle96

Ooops sorry. Have already got it/set up. Error

s71hj

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Every_Penny_Counts

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Interest is paid quaterly, on the last working day of March, June, September, and December.

Middle_of_the_Road

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Seems about right. It's showing £32 interest after 5 months. Larger interest amounts will accrew in the later months.

RG2015

Middle_of_the_Road said:

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Seems about right. It's showing £32 interest after 5 months. Larger interest amounts will accrew in the later months.

£32 interest after 5 months on a regular saver at £250 per month? I think not.

Edit: I posted in haste. This is correct.

Apologies to Middle_of_the_Road and thanks to all those that rightly admonished me!

s71hj

Middle_of_the_Road said:

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Seems about right. It's showing £32 interest after 5 months. Larger interest amounts will accrew in the later months.

Maybe I phrased this wrongly
How I'm interpreting this is that if my balance goes above £1282 (a rather arbitrary figure I acknowledge) I will earn 0% but I guess it means something else?

Middle_of_the_Road

RG2015 said:

Middle_of_the_Road said:

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Seems about right. It's showing £32 interest after 5 months. Larger interest amounts will accrew in the later months.

£32 interest after 5 months on a regular saver at £250 per month? I think not.

Is the interest credited quarterly on this account, therefore appearing incorrect?
Also it's possible to pay in above £250pcm with no interest paid on the excess.

Emily_Joy

RG2015 said:

Middle_of_the_Road said:

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Seems about right. It's showing £32 interest after 5 months. Larger interest amounts will accrew in the later months.

£32 interest after 5 months on a regular saver at £250 per month? I think not.

Why not? The first 250 were there for 5 months, the second 250 were there for four months, etc... comes to 31.25 + a little extra cumulative interest.

flaneurs_lobster

RG2015 said:

Middle_of_the_Road said:

s71hj said:

Had my Virgin 10% regular saver statement through. In the section about interest rate it says account balance £1282 + 0%. Am I missing something here- I was anticipating earning 10% on £250 a month for a year, rightly or wrongly!

Seems about right. It's showing £32 interest after 5 months. Larger interest amounts will accrew in the later months.

£32 interest after 5 months on a regular saver at £250 per month? I think not.

MSE calculator gives £30, why so incredulous?