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

Born2Save_3

MansfieldBS My Milestone Saver

It's not clear to me if a monthly deposit is mandatory or not and if missed what the consequences may be.

"A minimum of £1 per month must be deposited in order to open and operate the account."

Also Mansfield is making rate reductions on variable accounts on 1/2/26, will this account be affected ?

https://www.mansfieldbs.co.uk/latest-news/interest-rate-reductions-following-bank-of-england-base-rate-changes-on-18-december-2025/

Dizzycap

Pickledonionlover said:

rob37uk said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Very quick application form, only 4 pages need printing rather than the 6. Freepost address previously used:-

Mansfield BS

Freepost NG44

Regent House

Regent Street

Mansfield

Nottinghamshire

NG18 1BR

They've coughed and spluttered when I've not printed and enclosed the whole six before.

In any case I'll be using an old prepaid envelope.

In fact it's in the post box now!

Mine too, complete with all 6 printed pages as we can't have tutting or coughing & spluttering now, can we  

Bridlington1

Born2Save_3 said:

MansfieldBS My Milestone Saver

[...]

Also Mansfield is making rate reductions on variable accounts on 1/2/26, will this account be affected ?

https://www.mansfieldbs.co.uk/latest-news/interest-rate-reductions-following-bank-of-england-base-rate-changes-on-18-december-2025/

I wouldn't've thought it was being affected. Mansfield have to give at least 14 days notice of any rate cuts and 
we're only a week and a half from 1st February. Moreover affected accounts currently have their rate cuts detailed on their respective product pages.

Whether it'll survive future rounds of interest rate cuts remains to be seen.

allegro120

Born2Save_3 said:

MansfieldBS My Milestone Saver

It's not clear to me if a monthly deposit is mandatory or not and if missed what the consequences may be.

"A minimum of £1 per month must be deposited in order to open and operate the account."

Also Mansfield is making rate reductions on variable accounts on 1/2/26, will this account be affected ?

https://www.mansfieldbs.co.uk/latest-news/interest-rate-reductions-following-bank-of-england-base-rate-changes-on-18-december-2025/

Not clear to me either.  My guess is if the conditions are not met they will transfer the account to Easy Access Community Saver. 
These reductions were published before Milestone was released so it should stay at this rate until the next round of reductions. 

s71hj

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Finished reading this post on then stairs walking up to the room where my printer is. Sad git that I am! 

s71hj

s71hj said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Finished reading this post on then stairs walking up to the room where my printer is. Sad git that I am! 

I assume this bonus rate runs for exactly 1 year so a 13th payment is (possibly) possible. Not quite clear if it would be quicker to get a credited January payment to enclose a cheque or wait for account number and do an FP. Also I guess it's important to diarise closure after 12 months - note to self!! 

Bridlington1

s71hj said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Finished reading this post on then stairs walking up to the room where my printer is. Sad git that I am! 

If it's any consolation it's not uncommon for me to have dreams about regular savers and occasionally the master spreadsheet that lurks behind much of what I post on here.

Born2Save_3

Bridlington1 said:

s71hj said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Finished reading this post on then stairs walking up to the room where my printer is. Sad git that I am! 

If it's any consolation it's not uncommon for me to have dreams about regular savers and occasionally the master spreadsheet that lurks behind much of what I post on here.

Well if you're ever having any trouble falling asleep here are some soothing quotations you may like to think of :

"Famous Quotes on Compound Interest:

•     Albert Einstein: "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it."
•     Benjamin Franklin: "Money makes money. And the money that money makes, makes money."
•     Warren Buffett: "My wealth has come from a combination of living in America, some lucky genes, and compound interest."
•     Warren Buffett (on patience): "Time is your friend; impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market."
•     Dave Ramsey: "Compound interest is proof that you can get rich slowly."
•     Nick Sleep: "Compound interest is a wonderful thing to have on your side and terrible thing to have working against you."
•     Guy Spier: "Long-term compounding is an investor's best friend, so why get in its way." 

It's from Google AI, so there may be some hallucination, but they all sound pretty good to me.

s71hj

Born2Save_3 said:

Bridlington1 said:

s71hj said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Finished reading this post on then stairs walking up to the room where my printer is. Sad git that I am! 

If it's any consolation it's not uncommon for me to have dreams about regular savers and occasionally the master spreadsheet that lurks behind much of what I post on here.

Well if you're ever having any trouble falling asleep here are some soothing quotations you may like to think of :

"Famous Quotes on Compound Interest:

• Albert Einstein: "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it."
• Benjamin Franklin: "Money makes money. And the money that money makes, makes money."
• Warren Buffett: "My wealth has come from a combination of living in America, some lucky genes, and compound interest."
• Warren Buffett (on patience): "Time is your friend; impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market."
• Dave Ramsey: "Compound interest is proof that you can get rich slowly."
• Nick Sleep: "Compound interest is a wonderful thing to have on your side and terrible thing to have working against you."
• Guy Spier: "Long-term compounding is an investor's best friend, so why get in its way." 

It's from Google AI, so there may be some hallucination, but they all sound pretty good to me.

Born2Save_3 said:

Bridlington1 said:

s71hj said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Finished reading this post on then stairs walking up to the room where my printer is. Sad git that I am! 

If it's any consolation it's not uncommon for me to have dreams about regular savers and occasionally the master spreadsheet that lurks behind much of what I post on here.

Well if you're ever having any trouble falling asleep here are some soothing quotations you may like to think of :

"Famous Quotes on Compound Interest:

• Albert Einstein: "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it."
• Benjamin Franklin: "Money makes money. And the money that money makes, makes money."
• Warren Buffett: "My wealth has come from a combination of living in America, some lucky genes, and compound interest."
• Warren Buffett (on patience): "Time is your friend; impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market."
• Dave Ramsey: "Compound interest is proof that you can get rich slowly."
• Nick Sleep: "Compound interest is a wonderful thing to have on your side and terrible thing to have working against you."
• Guy Spier: "Long-term compounding is an investor's best friend, so why get in its way." 

It's from Google AI, so there may be some hallucination, but they all sound pretty good to me.

Reminds me of this wonderful bit from Red Dwarf

• The Setup: Holly, the ship's computer, informs Dave Lister that his small savings have multiplied astronomically.
• The Calculation: Holly claims Lister now owns 98% of the world's wealth because of compound interest over 3 million years.
• The Punchline: The "wealth" is real, but so is a gigantic bill from Norweb (the UK's electricity board), as Lister left a light on, leading to a £180 billion debt.

flaneurs_lobster

PowerSavingMode said:

Monthly minimum payments

Is that easy to do? I currently have a extremely sophisticated ( ;-) ) method — I embolden the minimum required in my 'amount per month' column!

Almost as sophisticated as my method - change the colour of the cell to a fetching pink.