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

MaxiRobriguez

1 regular saver.

Almost all of my spare money goes into pension.

I have since chosen to underpay my mortgage and use the additional cash saved from that into the regular saver.

At the end of the year, that pot goes into an ISA, and I'll start a new regular saver.

I'm no better or worse off for doing this, but the benefit of reducing mortgage contributions means I've got more accessible cash if I need it (as the pension contributions are out of scope for me for another 17 years). 

Bobblehat

MaxiRobriguez said:

1 regular saver.

Almost all of my spare money goes into pension.

I have since chosen to underpay my mortgage and use the additional cash saved from that into the regular saver.

At the end of the year, that pot goes into an ISA, and I'll start a new regular saver.

I'm no better or worse off for doing this, but the benefit of reducing mortgage contributions means I've got more accessible cash if I need it (as the pension contributions are out of scope for me for another 17 years). 

An interesting strategy! Welcome to the League Table 

solartom

Update 44 Accounts 9700pcm 72735 Total  sill 3 Principality accounts to mature at the end of the month hope to renew them

Hal17

Whilst having a coffee, I thought I would try to work out the average interest on all our current regular savers if we funded all of them to maturity. Hoping my maths is correct it seems we would get 6.42% on £160K, happy with that. 

Bobblehat

That's a great average! If you could work out what your solo stats would be (rather than joint), I'd happily enter it into your "annual return" column.

Hal17

Bobblehat said:

That's a great average! If you could work out what your solo stats would be (rather than joint), I'd happily enter it into your "annual return" column.

We currently have 46 in total and the split is 50/50, so we mirror each other on our regular savers. Thank you for doing the updates. 

Bobblehat

Thanks ... if you need any adjustments on your solo stats, let me know  ... update should happen in the next few days.

Bobblehat

League table just been updated folks .... thanks topyam. 

Newly_retired

Two now matured. One new opened, so 14. 

PixelPound

The min% is interesting. Mine used to be 5.50% but since opening Monmouthshire accounts (the 6%, £500pm and then the members 7% £1000 pm) this has jumped to 6.25%, though even then it's looking at other factors like withdrawal options and duration.
I am not currently funding the 3 RS below 6%, I have 2 at 5.50% one maturing start of Jan and the other the end, and probably won't renew those (especially if the renewal options are lower) and instead revisit mid year since I've a gap where nothing is maturing.

On my spreadsheet I note which has fixed rate and which variable. Not seen any notification of reductions since the BoE cut, but if they do then does the minimum percentage drop or maybe whether it's fixed becomes a factor depending on how many cuts are expected in 2026.

Does anyone consider what their average percentage is? Looking at those still funding, the average percentage (using SUM(each RS monthly deposit * percentage) / SUM(RS monthly deposits) ) is 6.6%, though that would be lower if included the ones I'm not funding.