TSB Monthly Saver

thenewcomer

I read from the TSB and MSE website that this account only gives 6% for the first year. 
If we had this account few years ago, are we allowed to open another one, with the hope of 6% interest rate per annum?

Thank you.

jaypers

It’s a Regular Saver and you can take out a new one each year, but you’ll start from £0 again. You can only pay up to £250 per month in so remember that it’s not like putting £3000 into an account and getting 6% interest on that amount for the year. If you put the max per month in you will get around £90 interest. Still worth it but read up on how these accounts differ.

allegro120

thenewcomer said:

I read from the TSB and MSE website that this account only gives 6% for the first year. 
If we had this account few years ago, are we allowed to open another one, with the hope of 6% interest rate per annum?

Thank you.

Yes, you are allowed to open this account every 12 months.

jameseonline

Pretty sure the reason it says for 1st year is because it gets converted into a poopy savings account at end of the year.

Pretty standard for regular savings accounts.

You can have 1 active regular at a time, close it early and you have to wait until the year is up before getting another.