The Top Regular Savers Discussion Thread

surreysaver

ForumUser7 said:

surreysaver said:

liger said:

Can a 13th payment be sent to Progressive BS Rainy Day RS?  I have a balance of £3600 and it matures 13th July.

I find it useful to download a copy of the T&Cs whenever I open a new account 

By those, I would say yes - but don't know what their systems will do in practice.
The maximum of £3,600 is PCY, and it's only June, so OP still has allowance for July if they adhered to the £300 PCM

Yes, it's worded slightly confusingly. 'Maximum deposit per calendar month is £300’ doesn't mean the maximum per calendar year is £3600, unless the first £300 was made on the first of the month. I suspect they mean the maximum is £300 per month and £3600 per year, but it doesn't quite say that.
Bit like their use of the word 'lodgement'. It's not quite English.

Bobblehat

liger said:

Can a 13th payment be sent to Progressive BS Rainy Day RS?  I have a balance of £3600 and it matures 13th July.

Assuming you can add the £300 on 1st July and it doesn't get rejected, and the interest rate was a constant 7% (is that correct?), you will only gain about 70p over not trying to add a 13th £300. Your call if it's worth it or not.

Me .... well, I'd wonder where an odd missing penny might have got to ....

Bridlington1

ForumUser7 said:

surreysaver said:

liger said:

Can a 13th payment be sent to Progressive BS Rainy Day RS?  I have a balance of £3600 and it matures 13th July.

I find it useful to download a copy of the T&Cs whenever I open a new account 

By those, I would say yes - but don't know what their systems will do in practice.
The maximum of £3,600 is PCY, and it's only June, so OP still has allowance for July if they adhered to the £300 PCM

In my case issue 1 let me get the balance to £3.9k after I accidentally funded it with a 13th payment. The final £300 didn't get returned.

shirley999

When considering making a 13th monthly payment where there is a possibility it will be returned, consider the interest being earned on that extra monthly payment where it would sit if not paid.  Hardly worth it if the difference in interest rates between the two accounts is small, also take into consideration how many days are left of the term, the closer to a full month the more worthwhile it will be.  I’d certainly not bother if the account has only a week or so left to run, maybe if it’s practically a full month, and probably wouldn’t consider at all if I’m honest because most of my regular savers are only about 1% more than my easy access account.

Also note, where I’ve in the past paid into Halifax in the final month, I’ve then been unable to fund the new regular saver for that first month.  I’d guess others in that banking family might operate in a similar fashion.

Bobblehat

shirley999 said:

When considering making a 13th monthly payment where there is a possibility it will be returned, consider the interest being earned on that extra monthly payment where it would sit if not paid.  Hardly worth it if the difference in interest rates between the two accounts is small, also take into consideration how many days are left of the term, ................

Good point ... that 70p net gain becomes more like 22p net gain if you left the £300 in a 4.5% EA for 13 days (1st to 13th July) instead of trying to put into the Progressive RS!

Andystriker

Bridlington1 said:

Just a reminder the Leeds BS interest rate cuts come into effect tomorrow:

Account	Old rate	New rate	Date
Leeds BS Home Deposit Saver Issues 1 & 2	4.90%	4.80%	23/06/2025
Leeds BS Regular Saver (Issues 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 56, 57, 59, 60, 61, 62 & 63)	4.80%	4.70%	23/06/2025
Leeds BS Regular Saver Issue 55 & 58	4.95%	4.85%	23/06/2025

Hi Bridlington1

According to my notes, Leeds cuts on 27th June, although I could be wrong and I may have had too much Whisky again.

Its only 4 days anyway.

Thanks for all you do on this board.

Andy

ThePirates

"I may have had too much Whisky again."

What is this too much you talk about?

ForumUser7

Andystriker said:

Bridlington1 said:

Just a reminder the Leeds BS interest rate cuts come into effect tomorrow:

Account	Old rate	New rate	Date
Leeds BS Home Deposit Saver Issues 1 & 2	4.90%	4.80%	23/06/2025
Leeds BS Regular Saver (Issues 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 56, 57, 59, 60, 61, 62 & 63)	4.80%	4.70%	23/06/2025
Leeds BS Regular Saver Issue 55 & 58	4.95%	4.85%	23/06/2025

Hi Bridlington1

According to my notes, Leeds cuts on 27th June, although I could be wrong and I may have had too much Whisky again.

Its only 4 days anyway.

Thanks for all you do on this board.

Andy

The letter I got said home deposit saver reduction was 27/06/2025. Don't know re others, but probably same date

IanManc

surreysaver said:

Bit like their use of the word 'lodgement'. It's not quite English.

A "lodgement" is the term for a sum paid into a bank account in Ireland and Northern Ireland.

I first came across it when I opened a current account at the Bank of Ireland branch in Liverpool in the late 1980s, for which I received a chequebook and a "lodgement book" full of "lodgement slips".

Bridlington1

Andystriker said:

Bridlington1 said:

Just a reminder the Leeds BS interest rate cuts come into effect tomorrow:

Account	Old rate	New rate	Date
Leeds BS Home Deposit Saver Issues 1 & 2	4.90%	4.80%	23/06/2025
Leeds BS Regular Saver (Issues 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 56, 57, 59, 60, 61, 62 & 63)	4.80%	4.70%	23/06/2025
Leeds BS Regular Saver Issue 55 & 58	4.95%	4.85%	23/06/2025

Hi Bridlington1

According to my notes, Leeds cuts on 27th June, although I could be wrong and I may have had too much Whisky again.

Its only 4 days anyway.

Thanks for all you do on this board.

Andy

Apologies, you have not had too much whisky, it was me who got the date wrong. The Leeds BS interest rate cuts for the listed accounts is indeed 27th June. I shall delete the offending post and amend my lists.