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

Bobblehat

Furness 160 Anniversary RS ...

A fuller approx. picture for those that like to ponder ....

surreysaver

Bobblehat said:

dibbles212 said:

GetRichOrDieSaving said:

dibbles212 said:

Bobblehat said:

GetRichOrDieSaving said:

New customer to Furnace and opened now with no problems within 5 mins. Already sent first payment and wait for it to show tomorrow. 

Can it be funded from 1st February onwards now? 

No problem, and don't forget the 11th payment if you're inclined!

Is it not 10 payments max or have I miscalculated? 1 payment each from Jan to Oct.

I believe the account runs 10 months from opening so if opened today maturity will
be 20th November 2026 thus allowing an 11th payment on November 1st…..

and yes, I’m inclined!

Ah okay, thanks, for some reason I thought it matured 31 Oct.

Here are the rough figures for funding 10 payments or 11 payments

I think you may need to use the gross figure of 6.71% rather than the AER of 6.75%, as the account doesn't last for a year and there is no compounding of interest.
I also believe deposits will earn interest from the day of deposit should they be deposited on non-working days 

Bobblehat

surreysaver said:

Bobblehat said:

dibbles212 said:

GetRichOrDieSaving said:

dibbles212 said:

Bobblehat said:

GetRichOrDieSaving said:

New customer to Furnace and opened now with no problems within 5 mins. Already sent first payment and wait for it to show tomorrow. 

Can it be funded from 1st February onwards now? 

No problem, and don't forget the 11th payment if you're inclined!

Is it not 10 payments max or have I miscalculated? 1 payment each from Jan to Oct.

I believe the account runs 10 months from opening so if opened today maturity will
be 20th November 2026 thus allowing an 11th payment on November 1st…..

and yes, I’m inclined!

Ah okay, thanks, for some reason I thought it matured 31 Oct.

Here are the rough figures for funding 10 payments or 11 payments

I think you may need to use the gross figure of 6.71% rather than the AER of 6.75%, as the account doesn't last for a year and there is no compounding of interest.
I also believe deposits will earn interest from the day of deposit should they be deposited on non-working days 

Corrected as per surreysaver's note on rate, although my tables get generated for SO's sent on working days! I'll leave those that like to manually fund to do their own versions 

allegro120

mhoc said:

In the meantime can any of the soothsayers forecast when we might expect a shiny new Principality 6 month saver issue 5 - letters arrived today to say I have 2 more issue 3s maturing on the 2nd of February but I am going to hold off putting in maturity instructions until the final hour justincase.
But cancel the SOs, assuming the worse as we are already 3/4 the way through January 

If Principality follows the pattern we might see issue 5 sometime in February, but you never know, they could also stop launching new issues of this product.  
I've recently tried another cheeky maturity instruction and received a "secure message".  I didn't think my instruction will succeed but thought I'll try just in case.

allegro120

happybagger said:

Bobblehat said:

Here are the rough figures for funding 10 payments or 11 payments

Or I'd just say £160 at 6.75% for 18 days =53p (as your table shows)
For me it would be (at today's rate of 4.40% in my EA account) a difference of 19p.

Whilst doing 50+ payments in one sitting making one more deposit takes about 30 seconds, that's roughly £24 per hour . I just do it without calculating the efficiency of each transaction, it all adds up.

Metrocammell

Furness 160th Anniversary RS, so glad I applied for an ea saver last week, made this very painless to open with email conformation and account details within a couple of minutes. 

s71hj

happybagger said:

Bobblehat said:

Here are the rough figures for funding 10 payments or 11 payments

Or I'd just say £160 at 6.75% for 18 days =53p (as your table shows)
For me it would be (at today's rate of 4.40% in my EA account) a difference of 19p.

I guess it's as easy to type 11 as it is to type 10.

gt94sss2

happybagger said:

Looks like the MHBS terms have changed a little, allowing 2 different issues to be held, as they now say you can deposit £500 over two accounts and the overall max of £3750 is no longer given

Does anyone know if this change applies to their older regular savers as well?

s71hj

gt94sss2 said:

happybagger said:

Looks like the MHBS terms have changed a little, allowing 2 different issues to be held, as they now say you can deposit £500 over two accounts and the overall max of £3750 is no longer given

Does anyone know if this change applies to their older regular savers as well?

Oh goodie, my parents live in Market Harborough.

Born2Save_3

Principality Regular Saver Bond Issue 36 and other fixed rate issues

As my EA position has changed, the Issue 36 rate at 4.85%A is now below my threshold. The conditions state no withdrawals during the term. Closure is possible, but I don't want to lose a maturing renewable account. So question is, has anyone been able to withdraw all bar the minimum balance from one of these ?  And if so, how ?