Being nosey... How many Regular Saver accounts do you have?

Kim_13

DodgerPot said:

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

11 is a good total for 1 year. I only really started collecting in late 2022, having had the occasional RS or two prior to that. In the past few years I have funded Fixed Rate ISAs with maturity proceeds, but this year they will be redeposited into further RSs due to a number of offers being too good to pass up. 

Bobblehat

DodgerPot said:

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

May I add, £4000pm on 11 RS's is pretty good going ... you've set yourself a high funding per account regime! Admirable 

DodgerPot

Bobblehat said:

DodgerPot said:

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

May I add, £4000pm on 11 RS's is pretty good going ... you've set yourself a high funding per account regime! Admirable 

Thank you 😀
I luckily bagged both 7% Monmouthshire's and 2x 6% Monmouthshire issue 8s so high pay ins. 

My Zopa RS @ 7.5% when it was available 
Together with First Direct, Principality, Scottish BS, Nationwide and Darlington all at the top of the best rate Regular Savers.

I need to make my savings work as hard as I can as I’m not brave enough or know enough about investing at higher risk stocks shares etc

Bobblehat

DodgerPot said:

Bobblehat said:

DodgerPot said:

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

May I add, £4000pm on 11 RS's is pretty good going ... you've set yourself a high funding per account regime! Admirable 

Thank you 😀
I luckily bagged both 7% Monmouthshire's and 2x 6% Monmouthshire issue 8s so high pay ins. 

My Zopa RS @ 7.5% when it was available 
Together with First Direct, Principality, Scottish BS, Nationwide and Darlington all at the top of the best rate Regular Savers.

I need to make my savings work as hard as I can as I’m not brave enough or know enough about investing at higher risk stocks shares etc

We think alike!

horsewithnoname

I’ve got two. £500 a month total is as much as I can afford. 

allegro120

DodgerPot said:

I have a Cahoot Easy Access Simple Saver issue 10 ( NLA) with monthly interest rate at 4.46% though this is due to reduce very soon. 

I’ll be thinking of moving the balance possibly to Ulster Bank if their latest Limited Edition 4.5% is still available ( I should act soon before that disappears) 

It's 4.55% AER, reducing to 4.4% on 2nd December.  

I think Ulster will keep the rate for a while.  They've just launched it and as far as I remember in the event of reduction they give 60 days' notice, so it is likely that in December Ulster will be the best paying EA (unless somebody else will come up with a better offer).

DodgerPot

allegro120 said:

DodgerPot said:

I have a Cahoot Easy Access Simple Saver issue 10 ( NLA) with monthly interest rate at 4.46% though this is due to reduce very soon. 

I’ll be thinking of moving the balance possibly to Ulster Bank if their latest Limited Edition 4.5% is still available ( I should act soon before that disappears) 

It's 4.55% AER, reducing to 4.4% on 2nd December.  

I think Ulster will keep the rate for a while.  They've just launched it and as far as I remember in the event of reduction they give 60 days' notice, so it is likely that in December Ulster will be the best paying EA (unless somebody else will come up with a better offer).

Thanks 🙏 for that info on cahoot rate as I’d forgotten exactly when the rate drop is happening.
 There’s really not a great difference between cahoot and Ulster Bank easy access rates so I may keep my balance parked in Cahoot a while longer. 

clairec666

horsewithnoname said:

I’ve got two. £500 a month total is as much as I can afford. 

Don't feel like it's a competition - not everybody needs / is able to have accounts in the double digits.

That £500 a month will soon mount up, and you'll have a nice interest bonus when they mature.

s71hj

Bobblehat said:

DodgerPot said:

Bobblehat said:

DodgerPot said:

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

May I add, £4000pm on 11 RS's is pretty good going ... you've set yourself a high funding per account regime! Admirable 

Thank you 😀
I luckily bagged both 7% Monmouthshire's and 2x 6% Monmouthshire issue 8s so high pay ins. 

My Zopa RS @ 7.5% when it was available 
Together with First Direct, Principality, Scottish BS, Nationwide and Darlington all at the top of the best rate Regular Savers.

I need to make my savings work as hard as I can as I’m not brave enough or know enough about investing at higher risk stocks shares etc

We think alike!

Same here. there is a very different skill set between stocks and shares and this. I can manage this in my comfort zone, although I have to say Welsh Building societies through a combination of generous accounts and flawed processes have got us to a point where RS's feel better than even cash ISAs and I'm also happy to postpone the day when I have to choose an IFA to trust on stocks and shares stuff!

dingling68

I have been away for two weeks in Cyprus so once I am reunited with my trusty spreadsheet later today I will contribute my numbers to join BH’s spreadsheet. Loving your work on this BH! 

Thanks to all for your contributions it’s been an interesting read 😊

I am a higher rate tax payer but pay additional premiums into my workplace pension during the year to keep me in the basic rate band. I now only fund those RS’s with a rate higher than my cash ISA. 

My intention as I hurtle towards SPA is to invest maturing RS funds into my pension going forward and reduce my monthly RS contributions, whilst leaving enough of a cash balance for my emergency fund … I think 🤔