The Top Regular Savers Discussion Thread

Bob2000

So my First  Direct regular saver  and Virgin 10% one matures on the 29th and 31st. 

Was thinking of putting the funds into my Skipton members' saver(already been open for 6 weeks with 1k), and Cahoot sunny day saver  just applied  this morning(empty atm).

If l just left the fund in the accounts for the term instead of opening  First Direct  again and another regular savers maybe TSB?? and drip feeding across how much would l be down by?
Thanks

friolento

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

@Andystriker thank you for the heads up. I don't suppose he said whether it can be opened online, or just in Branch or by post?

clairec666

Bob2000 said:

So my First  Direct regular saver  and Virgin 10% one matures on the 29th and 31st. 

Was thinking of putting the funds into my Skipton members' saver(already been open for 6 weeks with 1k), and Cahoot sunny day saver  just applied  this morning(empty atm).

If l just left the fund in the accounts for the term instead of opening  First Direct  again and another regular savers maybe TSB?? and drip feeding across how much would l be down by?
Thanks

TSB's monthly saver is only 5% so probably not worth it.

Quick rough calculation - £3000 in the Skipton members' saver at 5% for a full year will gain you £150 in interest. Drip-feeding £250 a month into a regular saver at 7% will gain you an extra £32.

apt

Bob2000 said:

So my First  Direct regular saver  and Virgin 10% one matures on the 29th and 31st. 

Was thinking of putting the funds into my Skipton members' saver(already been open for 6 weeks with 1k), and Cahoot sunny day saver  just applied  this morning(empty atm).

If l just left the fund in the accounts for the term instead of opening  First Direct  again and another regular savers maybe TSB?? and drip feeding across how much would l be down by?
Thanks

The only good reason not to open the First Direct regular saver again is if you think you might need the money before the year term is up.

clairec666

apt said:

Bob2000 said:

So my First  Direct regular saver  and Virgin 10% one matures on the 29th and 31st. 

Was thinking of putting the funds into my Skipton members' saver(already been open for 6 weeks with 1k), and Cahoot sunny day saver  just applied  this morning(empty atm).

If l just left the fund in the accounts for the term instead of opening  First Direct  again and another regular savers maybe TSB?? and drip feeding across how much would l be down by?
Thanks

The only good reason not to open the First Direct regular saver again is if you think you might need the money before the year term is up.

Or go with Zopa instead which is a variable rate but allows withdrawals

ForumUser7

Bridlington1 said:

flaneurs_lobster said:

Bridlington1 said:

I was mainly referring to the fact that Dudley BS, like some other building societies, let you submit applications late in the evening but the account wouldn't get opened till at least tomorrow, therefore if they did impose a cut off of prior to 18th July 2025 it still wouldn't be enough to make you eligible.

I'd agree though that there'd be no harm in applying for an account tonight though if you're not an existing member.

Indeed, but in this case my EA opened this evening (20:10) and £250 sent by FP

You seem to be having more luck than me then, a message came up saying they'll be in touch within the next few working days in my case.

Me too  

Kim_13

I went for an ISA and got it open, but my withdrawal from an EA to current account was dated tomorrow so I can't fund until tomorrow.

chris_the_bee

friolento said:

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

@Andystriker thank you for the heads up. I don't suppose he said whether it can be opened online, or just in Branch or by post?

Dudley
Their existing RS is branch or postal application. Odd, as the Easy Access can be opened online.

ForumUser7

Kim_13 said:

I went for an ISA and got it open, but my withdrawal from an EA to current account was dated tomorrow so I can't fund until tomorrow.

I don’t know if it’s worth applying for an ISA to see what happens, probably not as I probably failed ID or something and then I would just mess things up more haha

mebu60

GlasgowExpat2 said:

I’ve spoken with Virgin Money and they’ve advised that it takes 7-10 days to close an account. On 1 July I can withdraw the funds from the Everyday Saver account and request closure but I will need to wait another 7-10 days to receive the interest. 

1 August. 

Thx for that info on potential timing. Did you ask why the closure process wording refers explicitly to current account closure but apparently works for other accounts too?