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

Stargunner

subjecttocontract said:

Can't see the point of having a Chorley Reg Saver the interest on offer isn't competitive. 
Why would someone go for a 5.15% account when there are lots of better paying accounts available ?
Am I missing something ?

Some people on here have and fund all the higher paying Reg Savers that are available. 

Personally, I already have enough at higher rates, so I won’t be applying for one of these.

Middle_of_the_Road

subjecttocontract said:

Can't see the point of having a Chorley Reg Saver the interest on offer isn't competitive. 
Why would someone go for a 5.15% account when there are lots of better paying accounts available ?
Am I missing something ?

They probably have all the higher paying regular saver accounts, and excess cash in lower easy access accounts.

allegro120

subjecttocontract said:

Can't see the point of having a Chorley Reg Saver the interest on offer isn't competitive. 
Why would someone go for a 5.15% account when there are lots of better paying accounts available ?
Am I missing something ?

I have all available to me better paying Reg Savers in my portfolio and fund them regularly up to the max allowance.  I use Chorley's 5.15% because it pays more than any of my EAs.  If I had an EA account paying 5.15% I wouldn't  deposit to Chorley's RS.

Dizzycap

allegro120 said:

subjecttocontract said:

Can't see the point of having a Chorley Reg Saver the interest on offer isn't competitive. 
Why would someone go for a 5.15% account when there are lots of better paying accounts available ?
Am I missing something ?

I have all available to me better paying Reg Savers in my portfolio and fund them regularly up to the max allowance.  I use Chorley's 5.15% because it pays more than any of my EAs.  If I had an EA account paying 5.15% I wouldn't  deposit to Chorley's RS.

Absolutely! It's a no brainer for spare cash with easy access at that rate

Hattie627

Dizzycap said:

allegro120 said:

subjecttocontract said:

Can't see the point of having a Chorley Reg Saver the interest on offer isn't competitive. 
Why would someone go for a 5.15% account when there are lots of better paying accounts available ?
Am I missing something ?

I have all available to me better paying Reg Savers in my portfolio and fund them regularly up to the max allowance.  I use Chorley's 5.15% because it pays more than any of my EAs.  If I had an EA account paying 5.15% I wouldn't  deposit to Chorley's RS.

Absolutely! It's a no brainer for spare cash with easy access at that rate

Plus it accepts £400 per month, so you can build up a tidy EA sum quite quickly

Stargunner

Dizzycap said:

allegro120 said:

subjecttocontract said:

Can't see the point of having a Chorley Reg Saver the interest on offer isn't competitive. 
Why would someone go for a 5.15% account when there are lots of better paying accounts available ?
Am I missing something ?

I have all available to me better paying Reg Savers in my portfolio and fund them regularly up to the max allowance.  I use Chorley's 5.15% because it pays more than any of my EAs.  If I had an EA account paying 5.15% I wouldn't  deposit to Chorley's RS.

Absolutely! It's a no brainer for spare cash with easy access at that rate

It cannot be operated as a normal easy access account, because it doesn’t allow withdrawals. If you want to take any funds out you have to close the account.

Bridlington1

Melton BS to launch an Adcock Regular Saver at 6.5%

£150/mth max
Unlimited penalty free withdrawals
Matures 30/9/2027
Branch/post opening only

Edit:
Variable rate of interest. See:
https://www.themelton.co.uk/regular_savings/adcock-regular-saver/

Speculator

Bridlington1 said:

Melton BS to launch an Adcock Regular Saver at 6.5%

£150/mth max
Unlimited penalty free withdrawals
Matures 30/9/2027
Branch/post opening only

fixed or variable

WillPS

Bridlington1 said:

Melton BS to launch an Adcock Regular Saver at 6.5%

£150/mth max
Unlimited penalty free withdrawals
Matures 30/9/2027
Branch/post opening only

https://www.themelton.co.uk/regular_savings/adcock-regular-saver/

Variable rate

Kim_13

Melton Adcock RS

In other words, it matures a year later than RS Issue 6 if you opened early, paying 0.5% more but accepting £50 per month less. What’s not to like? Any excess can be taken by Issue 6, whether that’s £50 or you can afford more.

I wish I remembered what I put on the envelope last time - I avoid putting X Building Society as it makes it too obvious what’s in the envelope - and it obviously got there.

Oh, and interest is added annually on 31 May, so interest into the next tax year. Issue 6 is 31 March, so Melton obviously don’t have a universal date unlike other societies that do not use anniversary of account opening.