Savings account?

northernstar007

Bigwheels1111 said:

Keep an eye on the regular savers thread on here, new one’s are posted very frequently.
I have 17 or 19 regular savers, a couple are full and due to pay next month.
Plus next Monday I plan to open Principality reg saver issue 3 at 7.5%.
£200 a month for 6 months at 7.5%, open on the 31st, then pay another £200 on the 1st, max out the interest.
Make 4 more payments on the 1st.
I’m maxed out at the moment as it’s costing me over 4k a month to fund them.

i couldnt be bothered with over 17 accounts, ive stuck with 4.31% savings acc with tesco

Middle_of_the_Road

northernstar007 said:

i couldnt be bothered with over 17 accounts, ive stuck with 4.31% savings acc with tesco

Not sure you're on the right forum 🤔

Pink2014

Bigwheels1111 said:

Keep an eye on the regular savers thread on here, new one’s are posted very frequently.
I have 17 or 19 regular savers, a couple are full and due to pay next month.
Plus next Monday I plan to open Principality reg saver issue 3 at 7.5%.
£200 a month for 6 months at 7.5%, open on the 31st, then pay another £200 on the 1st, max out the interest.
Make 4 more payments on the 1st.
I’m maxed out at the moment as it’s costing me over 4k a month to fund them.

Wow thanks. I do look at the comparison sites but feel nervous about saving with lesser known banks and savers because I’m not clued up on it all as I would like to be. I find it very confusing! 

dingling68

Pink2014 said:

Bigwheels1111 said:

Keep an eye on the regular savers thread on here, new one’s are posted very frequently.
I have 17 or 19 regular savers, a couple are full and due to pay next month.
Plus next Monday I plan to open Principality reg saver issue 3 at 7.5%.
£200 a month for 6 months at 7.5%, open on the 31st, then pay another £200 on the 1st, max out the interest.
Make 4 more payments on the 1st.
I’m maxed out at the moment as it’s costing me over 4k a month to fund them.

Wow thanks. I do look at the comparison sites but feel nervous about saving with lesser known banks and savers because I’m not clued up on it all as I would like to be. I find it very confusing! 

Reading this forum is a great way to learn, and before you know it you too could hold multiple regular savers 😊

allegro120

Pink2014 said:

Bigwheels1111 said:

Keep an eye on the regular savers thread on here, new one’s are posted very frequently.
I have 17 or 19 regular savers, a couple are full and due to pay next month.
Plus next Monday I plan to open Principality reg saver issue 3 at 7.5%.
£200 a month for 6 months at 7.5%, open on the 31st, then pay another £200 on the 1st, max out the interest.
Make 4 more payments on the 1st.
I’m maxed out at the moment as it’s costing me over 4k a month to fund them.

Wow thanks. I do look at the comparison sites but feel nervous about saving with lesser known banks and savers because I’m not clued up on it all as I would like to be. I find it very confusing! 

It's understandable.  Perhaps you can start with opening just one of them to see how it works.  It doesn't really matter how well known the banks/building societies are, your savings are protected by FSCS up to £85,000 per institution.  

Bigwheels1111

This is how easy t is to get started and keep an eye on what is going on.

Plus how easy it is to get addicted to reg savers.

Not all the % are correct as some might have changed midway.

18 in total, 1 to add at the end of the month but a few dropping off as ready to mature.

April's payment £3875.00 all reg savers are well above fixed and easy access.

Principality 6% £ 50 First of the month. 16/25 Dec

Paid by Standing order 1st

Pays out 21/12/25 Interest 2024  £ 21.40 ✔ 2025 £

Regular Savers Interest 2024/25

Nationwide 8 % & Switch £ 415.02 ✔

Skipton 7.5 % £ 120.21 ✔

First Direct 7 % £ 135.38 ✔

YBS 7 % £ 246.45 ✔

Coventry 7 % £ 111.96 ✔

TSB 6 % £ 101.70 ✔

Gatehouse 7 % £ 156.25 ✔

Principality 6 % £ 21.40 ✔

Principality 5.5 % £ 90.20 ✔

YBS 6.0 % £ 41.05 ✔

West Brom 6.0 % £ 104.73 ✔

YBS 5.75% £ 100.34 ✔

Principality 8.0 % £ 33.38 ✔

Total £1678.09 ✔  Take of £300 for Nationwide switch £100 and loyalty payment £200.

Regular Savers 25/26.

Principality 5.4% £ 50 First of the month. 12/12 Apr

Paid by Standing order 1st

Pays out 18/04/25 Interest 2024 £10.77 ✔ 2025 £

First Direct 7.0% £300 10th of the month. 11/12 May

Paid by Standing order.

Pays out 10/05/25 Interest £

Skipton 7.0% £250 First of the month. 11/12 May

Paid by Standing order

Pays out 29/05/25 Interest £

Principality 8.0% £200 First of the month. 04/06 May

Paid by Standing order

Pays out 05/06/25 Interest £

Progressive 6.5% £300 First of the month. 09/12 July

Paid by Standing order

Pays out 04/07/25 Interest £

Virgin Money 10.38% £250 First of the month. 08/12 July

Paid by Standing order

Pays out 31/07/25 Interest £

Coventry 6.25% £150 First of the month. 07/12 Nov

Paid by Standing order

Pays out 01/09/25 Interest £

Nationwide 6.5% £200 First of the month. 07/13 Sep

Paid by Standing order

Pays out 23/09/25 Interest £

TSB 6.0% £250 First of the month. 06/12 Oct

Paid by Standing order

Pays out 31/10/25 Interest £

Principality 7.0% £125 First of the month. 06/12 Oct

Paid by Standing order

Pays out 31/10/25 Interest £

M Harborough 6.0% £250 First of the month. 07/15 Nov

Paid by Standing order

Pays out 30/11/25 Interest 2024 £6.43 ✔  2025 £

Coventry 5.75% £250 20th of the month. 04/12 Dec

Paid by Standing order

Pays out 20/12/25 Interest £

Progressive 5.75% £300 First of the month. 03/12 Jan

Paid by Standing order

Pays out 02/01/26 Interest £

Zopa 7.5% £300 6th of the month. 02/12 Feb

Paid by auto request from bank

Pays out 05/02/26 Interest £

M Harborough 6.0% £250 First of the month. 04/15 Mar

Paid by Standing order

Pays out 31/03/26 Interest £

West Brom 6.0% £250 First of the month. 03/12 Feb

Paid by Standing order

Pays out 19/02/26 Interest £

Principality 8.0% £200 First of the month. 02/06 Jul

Paid by Standing order

Pays out 28/08/25 Interest £

Principality 7.5% £200 First of the month. 00/06 Sep

Paid by Standing order

Pays out 31/09/25 Interest £

£300 Zopa 6th,

£300 Bank internal 10th

£250.00 Coventry 20th

£3875.00 Per month.

Good or Bad I'm not sure.

Problem ?????

Bigwheels1111

northernstar007 said:

so opening all of them account and putting full amount in with standing orders every month what is the the amount of interest 
also if a current account req for each bank thats going to have a massive effect on  your credit file

4 of mine need bank accounts, 3 are old accounts only virgin was new.
The rest are building society accounts and no credit checks are needed.
Moving hurt my file more.

northernstar007

£3875 x 12months = £46500
if i stick 46500 into 4.5% fixed  =  £2092

Bigwheels1111

northernstar007 said:

£3875 x 12months = £46500
if i stick 46500 into 4.5% fixed  =  £2092

Two things to explain with your calculations, as they are slightly confusing.

One £46500 is not saved on day one, for 12 months.
Two the money not in reg savers is in easy access and Trading212 isa.
I do not have £46500, it’s about 33k I think.
I start funding with what I had on day one, that starts to run out at some point.
One or two mature to pay for the next month, then the same again a few months later.
Around and around it goes. Fund, maturity, fund, maturity.
Plus interest from isa and easy access adds around £600 more.
Just over 1.9k interest on 33k, 33k at 4.5% = £1485 interest.
So for around 5 hours work over the year to open fund, set up SO and keep interest payments updated on spreadsheet, Then file self assessment return I’m £400 better off.

Please correct me if I’m wrong.
Some figures are from memory ie 33k it might be a bit less.

Pink2014

dingling68 said:

Pink2014 said:

Bigwheels1111 said:

Keep an eye on the regular savers thread on here, new one’s are posted very frequently.
I have 17 or 19 regular savers, a couple are full and due to pay next month.
Plus next Monday I plan to open Principality reg saver issue 3 at 7.5%.
£200 a month for 6 months at 7.5%, open on the 31st, then pay another £200 on the 1st, max out the interest.
Make 4 more payments on the 1st.
I’m maxed out at the moment as it’s costing me over 4k a month to fund them.

Wow thanks. I do look at the comparison sites but feel nervous about saving with lesser known banks and savers because I’m not clued up on it all as I would like to be. I find it very confusing! 

Reading this forum is a great way to learn, and before you know it you too could hold multiple regular savers 😊

Yes thank you I’m realising this, lots of advice 😊 I need to work out whether to have all of my savings in one or split between banks 🤔