The Old Regular Savers Discussion Thread 28/12/24-29/1/26

SH88SH88

Mrs_Trellis_of_North_Wales said:

Anybody planning to close the Beverley Regular Saver Issue 1 on January 1st (after the bonus payment has been received)? It seems to be the optimum date to close it.

No, I have a soft spot for small BS's, especially if they seem quite well run (had no issues with Beverley). Therefore I intend to keep it open and fully funded unless the rate becomes very uncompetitive.  

Bridlington1

Mrs_Trellis_of_North_Wales said:

Anybody planning to close the Beverley Regular Saver Issue 1 on January 1st (after the bonus payment has been received)? It seems to be the optimum date to close it.

I was just going to withdraw down to the minimum and then cease funding in case it comes in useful from 2027 onwards as opposed to closing the account.

Emily_Joy

Apologies if this has been asked a dozen times already - if I close Skipton Members RS that is 5.75% now early, will I receive any interest at all? I see it says that early closure is permitted, withdrawls are not, but it also says the interest is paid at maturity and it is not clear to me whether there will be any interest in case of early closure.

Kim_13

Emily_Joy said:

Apologies if this has been asked a dozen times already - if I close Skipton Members RS that is 5.75% now early, will I receive any interest at all? I see it says that early closure is permitted, withdrawls are not, but it also says the interest is paid at maturity and it is not clear to me whether there will be any interest in case of early closure.

Yes, you will. I closed an earlier issue early and interest was paid.

Where a RS allows withdrawals and/or early closure, interest will be paid at the headline rate for the time that the funds were in the account, unless the terms say otherwise (e.g. First Direct; Nationwide dropping from the 4th withdrawal.) An interest penalty for early access is very much the exception rather than the rule.

liger

Does a 13th £250 payment into Skipton Member Regular Saver get deposited or returned?

Dizzycap

Gers said:

Hattie627 said:

topyam said:

Just got the Principality one year fixed rate bond (4.85%). What wasn't appealing a while ago, now is... Tbh can't see many fixed rate RS hanging about. 

Always good to get a fixed rate RS while it's available. As long as you can close early if necessary, which Principality allows.

Not for this RS bond.

https://www.principality.co.uk/home/savings/savings-accounts/1-year-regular-saver-bond?startingBalance=&savingsContributions=0&savingsFrequency=&accountTermInMonths=12

This bond can be closed early as per the info provided by Principality BS and for ALL Principality BS products: "You can close your bond before it matures. Any interest you’ve earned will be added to the account balance and paid to you." 

Dizzycap

Emily_Joy said:

Apologies if this has been asked a dozen times already - if I close Skipton Members RS that is 5.75% now early, will I receive any interest at all? I see it says that early closure is permitted, withdrawls are not, but it also says the interest is paid at maturity and it is not clear to me whether there will be any interest in case of early closure.

Yes, you will receive interest up to the date of closure. When closing the account, Skipton BS will tell you how much interest will also be paid.

Bridlington1

Leeds BS Regular Saver (Issue 72) at 4.45% to go NLA, to be replaced by Issue 73 at the same rate.

Pickledonionlover

Mrs_Trellis_of_North_Wales said:

Anybody planning to close the Beverley Regular Saver Issue 1 on January 1st (after the bonus payment has been received)? It seems to be the optimum date to close it.

Anyone elses showing a % rate of 1% rather than the expected 5.75% when they logon online?

Mrs_Trellis_of_North_Wales

Pickledonionlover said:

Mrs_Trellis_of_North_Wales said:

Anybody planning to close the Beverley Regular Saver Issue 1 on January 1st (after the bonus payment has been received)? It seems to be the optimum date to close it.

Anyone elses showing a % rate of 1% rather than the expected 5.75% when they logon online?

5.5% (not 5.75%) is the interest rate with bonus, 1% is the interest rate without bonus. To receive the bonus, each month a deposit between £10 – £150 must be received into the account, the account should see no withdrawals in the year and the account must remain open at 31st December. Hence it only makes sense to close the account early in the calendar year. https://beverleybs.co.uk/savings/regular-saver-issue-1/