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

rallycurve

Stargunner said:

Bridlington1 said:

NatWest/RBS Interest rate reductions 30/5/25:

NatWest Digital Regular Saver Account and Royal Bank of Scotland Digital Regular Saver Account ~~~ Reduction from 6.17% to 5.5% for balances of £5k or less.
The rate for balances over £5k shall be cut from 1.25% to 1.15%.

Those are the AER figures for those that can leave the interest in to compound.
For those of us already at £5k, we have to siphon off the interest each month. Do you know what the current 6.0% Gross interest is reducing to, as I can’t find it online yet. I imagine it will be around 5.33%

5.37%

https://www.natwest.com/savings/manage-your-savings/savings-interest-rates-changes.html

ThePirates

Bridlington1 said:

NatWest/RBS Interest rate reductions 30/5/25:

NatWest Digital Regular Saver Account and Royal Bank of Scotland Digital Regular Saver Account ~~~ Reduction from 6.17% to 5.5% for balances of £5k or less.
The rate for balances over £5k shall be cut from 1.25% to 1.15%.

Yikes, wasn't expecting that. Puts them below my current funding level...

Bridlington1

Stargunner said:

Bridlington1 said:

NatWest/RBS Interest rate reductions 30/5/25:

NatWest Digital Regular Saver Account and Royal Bank of Scotland Digital Regular Saver Account ~~~ Reduction from 6.17% to 5.5% for balances of £5k or less.
The rate for balances over £5k shall be cut from 1.25% to 1.15%.

Those are the AER figures for those that can leave the interest in to compound.
For those of us already at £5k, we have to siphon off the interest each month. Do you know what the current 6.0% Gross interest is reducing to, as I can’t find it online yet. I imagine it will be around 5.33%

5.5% AER (5.37% gross). Post now amended to show both rates for the headline rate.

Hattie627

Many thanks to Bridlington1 for keeping us up-to-date with interest rate changes.

Anyone else finding the merry-go-round of interest rate changes every couple of months exhausting? I'm very glad that most of my regular savers are fixed rate.

Bridlington1

Hattie627 said:

Anyone else finding the merry-go-round of interest rate changes every couple of months exhausting? I'm very glad that most of my regular savers are fixed rate.

Not exhausting but I must confess I found it more fun when interest rates were rising.

clairec666

Haha, definitely more fun when rates were rising, but actually I quite enjoy the challenge of working out my regular saver strategy. Any excuse to play around with a spreadsheet!

ernie-money

Sorry if the question has been asked before, but does anyone know; if you have a joint Virgin current account - would both account holders qualify for the regular savings account please?

KneadtheDough

ernie-money said:

Sorry if the question has been asked before, but does anyone know; if you have a joint Virgin current account - would both account holders qualify for the regular savings account please?

RE: Virgin Money Regular Saver Exclusive Issue 2 

I believe so, according to a quick Google search:

"Yes, if you have a joint Virgin Money current account, both account holders would be eligible to open and benefit from the Regular Savings Account. The key is that the current account must be an eligible one, like the M Plus, M, or Club M account, not the Essential or Virgin Money Current Account. Both individuals named on the joint current account would then be able to access the linked savings account and its features, according to Virgin Money's website. "

I'd just try it and see what happens. If Virgin M say no, fair enough, but if they accept, great!

allegro120

ernie-money said:

Sorry if the question has been asked before, but does anyone know; if you have a joint Virgin current account - would both account holders qualify for the regular savings account please?

Yes, joint VM current account qualifies both account holders to have a regular saver each.

Bigwheels1111

Just got a nice surprise, FD reg saver matured today.
Also paid today into the savings account it used last year, I kept it open.
Matured and paid same day, a miracle for FD.
Just waiting for the new reg saver to open, applied yesterday.