The Top Regular Savers Discussion Thread

flaneurs_lobster

PloughmansLunch said:

I've checked my TSB Easy Saver which in a past life (2024) was a regular saver - 13 payments in and ~£108 interest

Fag packet says that in order to earn £108 interest on 250 * 13 the rate must have been 7%, was that the rate last year?

CricketLady

So just to confirm as original poster on this matured TSB regular saver today (as someone previously wanted the confirmation), I opened my TSB regular saver on 29th January 2024 and payment one of £250 went on 30th January.  I then changed my standing order date to 2nd of each month, so that a thirteenth payment was made on 2nd January 2025.  Interest today was £110.78

It was 6% then, it is still 6%.
 

CricketLady

jaypers said:

CricketLady said:

Just a quick thank you for the many of you on this forum who gave me the advice regarding making a thirteenth payment on regular savers and also to make my payments as early in the month as possible - my TSB 6% matured today (29th January) and because I changed my standing order date to the 2nd of each month after my initial payment went out at the end of January last year, then made a thirteenth payment in early January this year, I've amassed almost £111, which is much more than the £80ish I was expecting. 

Where possible I've done this for other regular savers I have, it really does seem worthwhile sliding in that extra thirteenth payment, and whilst I was able to instantly set up another TSB regular saver for my first standing order payment to be taken tomorrow, I will obviously change it to the 2nd of the month once it's gone.

Have a great Wednesday, everyone!

That’s interesting as TSB state that £3k is the max that can be paid in. So they definitely accepted the extra £250? Reason I ask is that mine matures on 28th Feb and there is £3k in there as of yesterday. 

So I'd definitely suggest putting another £250 in sometime in early February based purely on my own experience.  But do let us know how you get on!  

jaypers

allegro120 said:

jaypers said:

CricketLady said:

Just a quick thank you for the many of you on this forum who gave me the advice regarding making a thirteenth payment on regular savers and also to make my payments as early in the month as possible - my TSB 6% matured today (29th January) and because I changed my standing order date to the 2nd of each month after my initial payment went out at the end of January last year, then made a thirteenth payment in early January this year, I've amassed almost £111, which is much more than the £80ish I was expecting. 

Where possible I've done this for other regular savers I have, it really does seem worthwhile sliding in that extra thirteenth payment, and whilst I was able to instantly set up another TSB regular saver for my first standing order payment to be taken tomorrow, I will obviously change it to the 2nd of the month once it's gone.

Have a great Wednesday, everyone!

That’s interesting as TSB state that £3k is the max that can be paid in. So they definitely accepted the extra £250? Reason I ask is that mine matures on 28th Feb and there is £3k in there as of yesterday. 

TSB 
I could have made my 13th payment this month, but I didn't because my notes (made a few years ago) tell me that there is £3k limit.  I've just opened a new one this morning, downloaded t&c and cant see any limits there.  Also looked at t&c from last year, they are identical (no £3k limit mentioned).  Could anyone point out at where does it say about £3000 limit please?

Clearly states it in here - https://www.tsb.co.uk/content/dam/tsb-public/documents/savings/TSB11645-Monthly-Saver.pdf

CricketLady

Absolutely agree it says that the maximum you can pay in is £3000 but I promise that my experience was genuine, my daughter and my son both have TSB regular savers maturing in the middle of February and I know they are planning to make 13th payments at the start of next month to garner a few extra pounds.

I also feel that the difference between what TSB quoted as an expectation (£80ish) and what I actually got (£110.78) means that the thirteenth payment I made wasn't purely sitting in there not earning any interest.  It may be as much as it is because my regular saver STARTED at the end of the month (January) and I then swiftly shifted the standing order to the 2nd of the month.

jaypers

CricketLady said:

Absolutely agree it says that the maximum you can pay in is £3000 but I promise that my experience was genuine, my daughter and my son both have TSB regular savers maturing in the middle of February and I know they are planning to make 13th payments at the start of next month to garner a few extra pounds.

A full month interest on £250 is about £1.25……If that same £250 was in a 4.5% EA a/c is would earn about 93p. Not sure it’s worth breaking the T&Cs for about 30p but glad it seems to work, which I’m assuming is just down to TSBs poor IT not noticing. For me, filed under rules are rules! 

PloughmansLunch

I like to think it's down to TSB's "sellotape & blu-tac" approach to IT maintenance. I tend to squeeze whatever I can into regular savers and wait to see if anything bounces back.

allegro120

flaneurs_lobster said:

allegro120 said:

jaypers said:

CricketLady said:

Just a quick thank you for the many of you on this forum who gave me the advice regarding making a thirteenth payment on regular savers and also to make my payments as early in the month as possible - my TSB 6% matured today (29th January) and because I changed my standing order date to the 2nd of each month after my initial payment went out at the end of January last year, then made a thirteenth payment in early January this year, I've amassed almost £111, which is much more than the £80ish I was expecting. 

Where possible I've done this for other regular savers I have, it really does seem worthwhile sliding in that extra thirteenth payment, and whilst I was able to instantly set up another TSB regular saver for my first standing order payment to be taken tomorrow, I will obviously change it to the 2nd of the month once it's gone.

Have a great Wednesday, everyone!

That’s interesting as TSB state that £3k is the max that can be paid in. So they definitely accepted the extra £250? Reason I ask is that mine matures on 28th Feb and there is £3k in there as of yesterday. 

TSB 
I could have made my 13th payment this month, but I didn't because my notes (made a few years ago) tell me that there is £3k limit.  I've just opened a new one this morning, downloaded t&c and cant see any limits there.  Also looked at t&c from last year, they are identical (no £3k limit mentioned).  Could anyone point out at where does it say about £3000 limit please?

This is from the current Monthly Saver Summary Box

You must set up a monthly standing order between £25 and up to £250 from a TSB current account.
You can only make one payment each month into your account.
£3,000 is the maximum that can be paid into your Monthly Saver.

Given that they don't enforce the SO from the current account rule I guess it's also possible the £3k rule policing is equally lax.

My mistake, I was reading "Your Monthly Saver product conditions" instead of "Summary Box".

They don't enforce the SO, but they do enforce 12 months curfew.  However, it does look like people got away with an extra £250 so it is probably worth trying.  In worst case scenario they will probably just return £250 within a couple of days.

allegro120

Bobblehat said:

TSB RS

After reading Soulsaver's comment, I was wondering how much you would have expected in interest if you opened the RS on the 'n'th day of the month and funded it each month on the 'n'th day for the 12 months with £250? No need for any fancy adjustments for weekends etc .... just a ballpark figure.

I've made 12 payments.  First payment on 28th January 2024 and 11 payments on the 1st of each month (TSB credits deposits at weekends).  I've received £110.37 in interest.

CricketLady

allegro120 said:

Bobblehat said:

TSB RS

After reading Soulsaver's comment, I was wondering how much you would have expected in interest if you opened the RS on the 'n'th day of the month and funded it each month on the 'n'th day for the 12 months with £250? No need for any fancy adjustments for weekends etc .... just a ballpark figure.

I've made 12 payments.  First payment on 28th January 2024 and 11 payments on the 1st of each month (TSB credits deposits at weekends).  I've received £110.37 in interest.

So your last (12th) payment was made on the 1st of December?