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

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.

WillPS

Kim_13 said:

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.

"The Melton" will get there but you will need "Mutual House" if sending to their head office, which makes it pretty obvious IMHO.

Either way, a postman would know. They'd also know that it'd be pretty obvious if they started intercepting applications to a building society and using them fraudulently, and IB would quickly come down on them like a tonne of bricks.

I wouldn't worry about this.

PloughmansLunch

I was about to fritter away a valuable stamp but thought I'd check my box of savings bumf first, and I've found a Melton freepost envelope (addressed to Oakham) that arrived with the opening of the RS Issue 6 paperwork. Not one for posting off incognito though as it has a massive colourful logo on the front.