Christmas Savings Accounts

ColdIron

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

Nationwide's Flex Regular Saver pays 8.00%

https://www.nationwide.co.uk/savings/flex-regular-saver/

subjecttocontract

eskbanker said:

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

Nationwide disagrees with you:

Flex Regular Saver | Regular Savings Account | Nationwide

Quite so but I believe its a variable interest rate and having the Nationwide account doesn't exclude you from taking advantage of others with a guaranteed return. 

jimjames

subjecttocontract said:

eskbanker said:

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

Nationwide disagrees with you:

Flex Regular Saver | Regular Savings Account | Nationwide

Quite so but I believe its a variable interest rate and having the Nationwide account doesn't exclude you from taking advantage of others with a guaranteed return. 

I suspect (but maybe I'm wrong) that most people wanting to do Christmas savings aren't likely to be wanting to put more than £200 a month away for it.

masonic

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

I'm thoroughly confused. Are you referring to the subject of the thread in the statement in bold? I don't remember receiving anywhere near 8% from last year's YBS Christmas saver, IIRC it started at 4.5% and fortunately was variable rate, so ended up a little higher.

jimjames

masonic said:

subjecttocontract said:

jimjames said:

Does it need to be called Christmas? What about regular savers paying up to 8%?

I don't believe there are any paying 8%......this is the only opportunity in town that can guarantee that sort of return.

I'm thoroughly confused. Are you referring to the subject of the thread in the statement in bold? I don't remember receiving anywhere near 8% from last year's YBS Christmas saver, IIRC it started at 4.5% and fortunately was variable rate, so ended up a little higher.

I'm assuming it's referring to the Tesco clubcard they described. To me being tied to one shop isn't much use for Christmas shopping and being able to save up to £200 per month to spend anywhere is far more flexible

subjecttocontract

So, get yourself a Tesco clubcard. Just before April 1st, pay in £200. It's a guaranteed way of getting a £12 bonus on that £200 and in November you will have £212 in Tesco vouchers. That's equivalent to approx' 8% return. It's not much, it's not exciting and it's certainly not compulsory. But knowing how many on this forum consider how every penny they save means everything.......grab a bargain. Come November, with interest rates falling, it might look even more attractive.

masonic

subjecttocontract said:

So, get yourself a Tesco clubcard. Just before April 1st, pay in £200. It's a guaranteed way of getting a £12 bonus on that £200 and in November you will have £212 in Tesco vouchers. That's equivalent to approx' 8% return. It's not much, it's not exciting and it's certainly not compulsory. But knowing how many on this forum consider how every penny they save means everything.......grab a bargain. Come November, with interest rates falling, it might look even more attractive.

I already have a Tesco Clubcard. I'm very interested in getting £212 in vouchers from £200 cash, but I don't live very close to a Tesco supermarket and I expect it would cost me a fair chunk of that £12 to visit one. Are there any other ways to "pay in"?

SunbeamSunshine

Nationwide you can put 200 in and get 8 percent and I think there are others on this forum where you put in more. I also think starling may be 5%

subjecttocontract

I believe the only way of topping up the card is by visiting the Customer Service Desk in any of the larger Tesco stores.  It's would be possible for someone else, perhaps a family member to do it for you but, I don't think it's possible to do online.

masonic

subjecttocontract said:

I believe the only way of topping up the card is by visiting the Customer Service Desk in any of the larger Tesco stores.  It's would be possible for someone else, perhaps a family member to do it for you but, I don't think it's possible to do online.

That's a shame, puts it in the same boat as those branch only accounts that are given away as loss leaders to local people. I'd venture not worth it for anyone who would need to make a special journey.