Regular Savers - are they worth it?

jaypers

I still have 4 RS’s…..

First Direct - 7%
Beehive - 6%
Santander - 5%
TSB - 5%

Will probably just reduce the 2 5% ones and still let them run for now, especially TSB as you lost the interest if you close early I believe. Think goalposts have moved today in light of Tandem and anything under 6% probably not worth it. 

friolento

Zaul22 said:

As of today, no. Not the fixed ones anyway. Natwest/RBS is still good as it's monthly interest and variable rate. (If you are one of the lucky few that don't get your account closed for no reason). 

Why would the FD one, the LBG ones, the Principality 5.5% not be worth it? Even the 5% ones could be worth it for people who can't have a Tandem account.

Wheres_My_Cashback

jaypers said:

I still have 4 RS’s…..

First Direct - 7%
Beehive - 6%
Santander - 5%
TSB - 5%

Will probably just reduce the 2 5% ones and still let them run for now, especially TSB as you lost the interest if you close early I believe. Think goalposts have moved today in light of Tandem and anything under 6% probably not worth it. 

Any RS account paying >5.00% is still worth it if you have enough spare funds to fund all of them each month.

As for lost interest on TSB, that's wrong, there are no penalties on W/Ds or closure.

Bridlington1

lcooper said:

Zaul22 said:

As of today, no. Not the fixed ones anyway. Natwest/RBS is still good as it's monthly interest and variable rate. (If you are one of the lucky few that don't get your account closed for no reason). 

Why would the FD one, the LBG ones, the Principality 5.5% not be worth it? Even the 5% ones could be worth it for people who can't have a Tandem account.

Also don't forget the NLA Saffron Members Regular Saver at 9% and Skipton at 7.5%. These are 2 of the most valued members of my regular saver collection.

Personally I'll still have 30 regular savers remaining even after I've closed Santander and Principality Xmas. Admittedly 13 will likely be on minimal funding from next month but that'll still leave me with 17 being fully funded.

Zaul22

I forgot about First Direct, that is definitely still good, but for the ones fixed at 5.5%, for me 0.5% isn't enough to justify annual interest over monthly. 

simonsmithsays

Bridlington1 said:.

 even after I've closed Santander 

@Bridlington1

I can't see the option to perform this closure on the app.

Can you please advise?

gt94sss2

simonsmithsays said:

Bridlington1 said:.

 even after I've closed Santander 

I can't see the option to perform this closure on the app.

Can you please advise?

You use the Santander in-app chat bot to close the account.

simonsmithsays

gt94sss2 said:

simonsmithsays said:

Bridlington1 said:.

 even after I've closed Santander 

I can't see the option to perform this closure on the app.

Can you please advise?

You use the Santander in-app chat bot to close the account.

Santander Regular Saver Closure 

I've done this and they've responded that closure is only possible by attending a branch, writing to them or calling them

friolento

simonsmithsays said:

gt94sss2 said:

simonsmithsays said:

Bridlington1 said:.

 even after I've closed Santander 

I can't see the option to perform this closure on the app.

Can you please advise?

You use the Santander in-app chat bot to close the account.

Santander Regular Saver Closure 

I've done this and they've responded that closure is only possible by attending a branch, writing to them or calling them

That's odd, I could close mine. If you cannot close yours, you can still withdraw your balance, without penalty. In this case, your interest will be paid at maturity.

gt94sss2

simonsmithsays said:

gt94sss2 said:

simonsmithsays said:

Bridlington1 said:.

 even after I've closed Santander 

I can't see the option to perform this closure on the app.

Can you please advise?

You use the Santander in-app chat bot to close the account.

Santander Regular Saver Closure 

I've done this and they've responded that closure is only possible by attending a branch, writing to them or calling them

I closed mine last night after replying to your message. I suggest you try again.

If the bot doesn't include it in the list of accounts, you can close, just choose the "other" option and it will allow you to leave a message..