Regular Savings Accounts: The Best Currently Available List!

schiff

For fun(?) I've calculated my overall interest rate on my regular savers - 1.407%. Bearing in mind that some of that is being taxed at 20% it does make you think whether it's all worth it. Plus the inflation rate. The ultimate destination of the £7050 odd from Tipton is my Marcus account (feeder for the RSs and my main account). £7050 at 0.60% is 11.5p per day.

I think I'm making a fuss about not very much!

happybagger

Interesting, I should do that myself @schiff . I have a spreadsheet telling me my overall cash return is 1.69% but that is skewed by a decent sum in a 3 year fix at 2.4%. I suspect mine too is around the 1.4% mark but as most of my RS accounts are instant access with no fixed term I view them as just that - instant access accounts with a better rate than what is otherwise available.

liamcov

Not sure what has happened with Tipton - I gave maturity instructions to my bank account and a nominal amount to another of their accounts, but all my money is now showing in something called 'Online 7 Day Notice Account' which requires a minimum of £100 in there - I've requested the rest out which will take 7 days, but I don't want to leave £100 in an account I have no idea what the interest rate is (no mention of this account on their website!)

Any suggestions what to do, not very impressed by them but I suppose I'm used to better service with Mon/Virgin etc.

Rich2808

Being fair to the Tipton they have large numbers of these regular saver accounts maturing on NYE - as they decided to offer a product where all accounts matured on the same day.

You will get the proceeds by Wednesday 5th - and would have been lucky to have earned 50p in interest in those five days in a 0.5% instant access account.

They are a small society with limited resources but offered a good product paying a good rate.

So why stress - in the end its only 50p!

Special_Saver2

Hi Everybody,

Happy New Year!

I have carried out this weekend's update.

I have added the Swansea BS Regular Monthly Saver paying 1.15% (1.16% AER) on up to £500 per month for 12 months.

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Fingerbobs

schiff said:

For fun(?) I've calculated my overall interest rate on my regular savers - 1.407%. Bearing in mind that some of that is being taxed at 20% it does make you think whether it's all worth it. Plus the inflation rate. The ultimate destination of the £7050 odd from Tipton is my Marcus account (feeder for the RSs and my main account). £7050 at 0.60% is 11.5p per day.

I think I'm making a fuss about not very much!

My weighted average interest rate across all my RS accounts for last month is 2.16%. (I have a cell in my spreadsheet to work it out). Obviously it varies month-by-month as the balances in each account change and some accounts mature.

schiff

Fingerbobs said:

schiff said:

For fun(?) I've calculated my overall interest rate on my regular savers - 1.407%. Bearing in mind that some of that is being taxed at 20% it does make you think whether it's all worth it. Plus the inflation rate. The ultimate destination of the £7050 odd from Tipton is my Marcus account (feeder for the RSs and my main account). £7050 at 0.60% is 11.5p per day.

I think I'm making a fuss about not very much!

My weighted average interest rate across all my RS accounts for last month is 2.16%. (I have a cell in my spreadsheet to work it out). Obviously it varies month-by-month as the balances in each account change and some accounts mature.

Only two of my 24 RSs pay more than 2.16% so you clearly avoid the lower rates - I have seven paying 1.10% or less. Not sure what you meant by 'weighted'. I simply calculated the monthly interest on the maximum monthly - which, so far anyway, I stick to. Monthly (theoretical) interest over maximum monthly deposits.

Nick_C

Slightly off topic.  If you use the EMMA aggregation app, you can view your Virgin Homebuyer Coach account in it.  You set it up through the Virgin Money Credit Cards link!

Fingerbobs

schiff said:

Fingerbobs said:

schiff said:

For fun(?) I've calculated my overall interest rate on my regular savers - 1.407%. Bearing in mind that some of that is being taxed at 20% it does make you think whether it's all worth it. Plus the inflation rate. The ultimate destination of the £7050 odd from Tipton is my Marcus account (feeder for the RSs and my main account). £7050 at 0.60% is 11.5p per day.

I think I'm making a fuss about not very much!

My weighted average interest rate across all my RS accounts for last month is 2.16%. (I have a cell in my spreadsheet to work it out). Obviously it varies month-by-month as the balances in each account change and some accounts mature.

Only two of my 24 RSs pay more than 2.16% so you clearly avoid the lower rates - I have seven paying 1.10% or less. Not sure what you meant by 'weighted'. I simply calculated the monthly interest on the maximum monthly - which, so far anyway, I stick to. Monthly (theoretical) interest over maximum monthly deposits.

I haven't been bothering with any accounts paying less than 2% lately, and currently only have two accounts remaining that pay less than this (both maturing soon).

My calculation is the average interest rate paid across all my accounts, weighted according to the actual balance in each account. So it's the effective interest rate I'm receiving on the sum of all the balances.

schiff

Fingerbobs said:

schiff said:

Fingerbobs said:

schiff said:

For fun(?) I've calculated my overall interest rate on my regular savers - 1.407%. Bearing in mind that some of that is being taxed at 20% it does make you think whether it's all worth it. Plus the inflation rate. The ultimate destination of the £7050 odd from Tipton is my Marcus account (feeder for the RSs and my main account). £7050 at 0.60% is 11.5p per day.

I think I'm making a fuss about not very much!

My weighted average interest rate across all my RS accounts for last month is 2.16%. (I have a cell in my spreadsheet to work it out). Obviously it varies month-by-month as the balances in each account change and some accounts mature.

Only two of my 24 RSs pay more than 2.16% so you clearly avoid the lower rates - I have seven paying 1.10% or less. Not sure what you meant by 'weighted'. I simply calculated the monthly interest on the maximum monthly - which, so far anyway, I stick to. Monthly (theoretical) interest over maximum monthly deposits.

I haven't been bothering with any accounts paying less than 2% lately, and currently only have two accounts remaining that pay less than this (both maturing soon).

My calculation is the average interest rate paid across all my accounts, weighted according to the actual balance in each account. So it's the effective interest rate I'm receiving on the sum of all the balances.

Fingerbobs said:

schiff said:

Fingerbobs said:

schiff said:

For fun(?) I've calculated my overall interest rate on my regular savers - 1.407%. Bearing in mind that some of that is being taxed at 20% it does make you think whether it's all worth it. Plus the inflation rate. The ultimate destination of the £7050 odd from Tipton is my Marcus account (feeder for the RSs and my main account). £7050 at 0.60% is 11.5p per day.

I think I'm making a fuss about not very much!

My weighted average interest rate across all my RS accounts for last month is 2.16%. (I have a cell in my spreadsheet to work it out). Obviously it varies month-by-month as the balances in each account change and some accounts mature.

Only two of my 24 RSs pay more than 2.16% so you clearly avoid the lower rates - I have seven paying 1.10% or less. Not sure what you meant by 'weighted'. I simply calculated the monthly interest on the maximum monthly - which, so far anyway, I stick to. Monthly (theoretical) interest over maximum monthly deposits.

I haven't been bothering with any accounts paying less than 2% lately, and currently only have two accounts remaining that pay less than this (both maturing soon).

My calculation is the average interest rate paid across all my accounts, weighted according to the actual balance in each account. So it's the effective interest rate I'm receiving on the sum of all the balances.

So 'all your accounts' isn't restricted to regular savers?