Beehive Regular Saver

sazandy25

As with other regular savers you are limited to a max of £250 per month, when does the month start? 
Can I pay in today & again on 1st August & continue on the 1st of next 10 months? Or does it mean 13th August (1 month from today)
Have been overpaying mortgage but on a cheap fix for next 5 years, so rather keep it easy with payment going out on same day as mortgage payments.

wmb194

sazandy25 said:

As with other regular savers you are limited to a max of £250 per month, when does the month start? 
Can I pay in today & again on 1st August & continue on the 1st of next 10 months? Or does it mean 13th August (1 month from today)
Have been overpaying mortgage but on a cheap fix for next 5 years, so rather keep it easy with payment going out on same day as mortgage payments.

Yes, calendar month.

tr7phil

 I was lucky enough to see this account at the end of June so I paid in £250 on the 29th June and got another £250 in on the 1st July.  I then set up a standing order for the 1st of the next 12 months so when it matures I'll have £3,500 saved.  Not bad.

PixelPound

Signed up, but have decided against funding.

6% sounds good, but as you start at £0 and put in £250pm, it's the same as investing a lump sum at 3%. So gone for a 1 year fix at 6% and will just add to my Easy Access.

Though if not got a lump some, this seems good - the rate is until 31st July 2024, so if you started in July you can make upto 13 months of payments (or in case of @tr7phil 14)

https://www.moneysavingexpert.com/savings/regular-savings-calculator/ can be useful.