Ford money regular saver.

[Deleted User]

Hello.

FORD MONEY
4.75% FIXED for 12 months
£25min -£200max

I've just came across the regular saving account do you think it's worth putting £25 per month into it?
Thanks.

gravel_2

Do you think it's worth it Malt290?

For me, personally, it's not an account I'd consider. 

[Deleted User]

gravel_2 said:

Do you think it's worth it Malt290?

For me, personally, it's not an account I'd consider. 

Well, it's worth it for me putting the minimum amount in because it all l got to spare. I  was more looking for opinions/experience  with the provider because l haven't dealt with them  before.

Why would you not consider them if you don't mind me asking?

gravel_2

[Deleted User] said:

gravel_2 said:

Do you think it's worth it Malt290?

For me, personally, it's not an account I'd consider. 

Well, it's worth it for me putting the minimum amount in because it all l got to spare. I  was more looking for opinions/experience  with the provider because l haven't dealt with them  before.

Why would you not consider them if you don't mind me asking?

I've no experience with this provider. I considered them perhaps 6 or 9 months ago for easy access when they were still at the competitive end of interest rates. They have fallen back to the middle of the pack since then.

Reasons I wouldn't consider it:

If you look at the regular saver page you can get a better percentage on the kind of product you are looking at. Unless you already have all of these and are filling them up, why consider the Ford Money account? https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

The rate, while fixed, is below par for regular savers and even for easy access. There would need to be a material reduction in interest rates for the Ford Money account to be better, in my view, than just opening a 5%+ easy access account and paying in regularly over the next 12 months.

I understand the benefit of regular savers (I have 2 @ 7%) but I really don't get excited about them. At £25 per month you're looking at earning £8 interest in 12 months. Perhaps I am just in a fortunate position in that I cannot get excited about that. I especially don't understand the folks on here who juggle multiple regular savers in order to gain a relatively small amount over just holding an easy access.

Rich1976

Ford Money are a decent provider. We have used them for a few years and everything has always been hassle free. 

I personally wouldn’t have a regular saver at that rate as there are higher ones around and you can get easy access for the same sort of rate.

wiseonesomeofthetime

Same as others.

Ford Money, as a provider, I have had zero issues with, and been with them a few years now.

An RS @ 4.75%, albeit fixed, I would not entertain. At £25pm you may as well just use an easy access account.

Xenon

Ford Money are fine - used them on and off for years ...never any issues

[Deleted User]

gravel_2 said:

[Deleted User] said:

gravel_2 said:

Do you think it's worth it Malt290?

For me, personally, it's not an account I'd consider. 

Well, it's worth it for me putting the minimum amount in because it all l got to spare. I  was more looking for opinions/experience  with the provider because l haven't dealt with them  before.

Why would you not consider them if you don't mind me asking?

I've no experience with this provider. I considered them perhaps 6 or 9 months ago for easy access when they were still at the competitive end of interest rates. They have fallen back to the middle of the pack since then.

Reasons I wouldn't consider it:

If you look at the regular saver page you can get a better percentage on the kind of product you are looking at. Unless you already have all of these and are filling them up, why consider the Ford Money account? https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

The rate, while fixed, is below par for regular savers and even for easy access. There would need to be a material reduction in interest rates for the Ford Money account to be better, in my view, than just opening a 5%+ easy access account and paying in regularly over the next 12 months.

I understand the benefit of regular savers (I have 2 @ 7%) but I really don't get excited about them. At £25 per month you're looking at earning £8 interest in 12 months. Perhaps I am just in a fortunate position in that I cannot get excited about that. I especially don't understand the folks on here who juggle multiple regular savers in order to gain a relatively small amount over just holding an easy access.

Maybe easy access would be better then. Thank you  for your reply.

[Deleted User]

Rich1976 said:

Ford Money are a decent provider. We have used them for a few years and everything has always been hassle free. 

I personally wouldn’t have a regular saver at that rate as there are higher ones around and you can get easy access for the same sort of rate.

Easy access is the way forward it seems for my modest  budget. 
Thank you for replying. 

[Deleted User]

wiseonesomeofthetime said:

Same as others.

Ford Money, as a provider, I have had zero issues with, and been with them a few years now.

An RS @ 4.75%, albeit fixed, I would not entertain. At £25pm you may as well just use an easy access account.

Easy access it is by the looks of it.

[Deleted User]

Xenon said:

Ford Money are fine - used them on and off for years ...never any issues

Thank for reply.