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

Catplan

I only have 22 RS, with 6750 per month funding, just over 31k running total, I do have 4 maturing this month, 3 or which I can definitely renew. One is the Principality Xmas account, whilst the maturity options do give me the chance to open a second 6M issue 4 I’ve never been successful in obtaining one. I always have a sent message which gets a positive reply initially but a follow up you can’t have more than one account…… you win some you lose some, might try for SBS online offering if rumours are true about launching next week

ThePirates

kermchem said:

n15h said:

ThePirates said:

@n15h I'd go Principality before Provincial
Higher rate and when you choose maturity options that allow you to have duplicate accounts you are quids in!
I'm on 4 Principally accounts now even thought the 'rules' suggest you can only have 1.

@ThePirates I wasn't aware that RSs have the maturity option that allows the funds to be transferred to another RS account with the same provider e.g., Principality - unless I've misread that. Or do you mean something else?

When Principality BS fixed term accounts end you can just let then evolve into an easy access account by doing nothing, but the maturity instructions usually offer you several options. These do differ between account. The 6 month RS, where if you have been adding £200 per month you will have £1200 plus interest, you can open a new 6 month RS with £200 and have the remainder sent to your nominated account / current account / other options. You keep the same account name and number for the "new" account, so it also simplifies making further deposits.

What he said! ☝️

DodgerPot

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 

UKX69

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 

Just out of curiosity, what easy access account do you use?

UKX69

Bobblehat said:

I wonder if there are any closet RS enthusiasts browsing this forum that are too shy to contribute?

Unfortunately, I'm not expert enough with the forum's search facility to know how to search for them, but I'd never add in their past admissions anyway without their say so, as they can easily do it themselves here if they wished to play 

I’ll try to overcome my shyness and say 2 at the moment (Principality and Monmouth app 7%). Been sorting out my finances after many years of stock market investing. The time horizon is getting shorter, hence the move to safer alternatives.

DodgerPot

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) 

UKX69

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) 

Thanks for the reply. 10k float at the moment but that will increase as investments mature/hopefully hit target price so have the funds in Skipton bonus saver 4.16%. Could get a little more I suppose but it suits me at he moment.

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