The Top Regular Savers Discussion Thread

Ch1ll1Phlakes

https://forums.moneysavingexpert.com/discussion/comment/81988021#Comment_81988021

No problem.

s71hj

Can somebody remind me how to renew Lloyd's Halifax and BOS regular savers in the app. I've done it before but now can't work it out!!!

friolento

https://forums.moneysavingexpert.com/discussion/comment/81988756#Comment_81988756

you “renew” your existing RS into an easy access savings account, from which you can withdraw your funds to wherever you want. Log out, log in again, and apply for a new RS. Though people have recently problems at BOS with it. Do it at your own risk.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81988789#Comment_81988789

Think the 'renew' functionality is only available online, not in the app.

Descrabled

BoS

Just tried to close/renew online and the computer said no. Suggested "go to branch" instead.

Stargunner

You can do it via online chat

s71hj

I'm in a quandary about RBS and Natwest RS. My balance has worked it's way up to 4500 on each. I now have other accounts that pay more albeit in the short term and not on the lump sum and additionally I'd probably be slightly better off paying the amount off my mortgage which is 4.25 % (although there is arguably a case for retaining it as accessible funds rather than reduced debt). Any thoughts from anybody, anyone in the same dilemma?

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/81988873#Comment_81988873

I've just started to take funds from my NatWest RS for exactly that reason: to fund another RS with a higher interest rate.

I've also decided that — despite being on a tracker mortgage that will likely go up some time over the next few months, at least — I will still receive more in interest than I would in paying off my mortgage. I found this calculator, which helped me: https://www.ent.com/education-center/financial-calculators/invest-payoff-debt/

For me, it seems logical to continue paying my mortgage and saving where I can (above 5%) for now.

FWIW, I currently don't pay tax on interest from savings. That might change, of course.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/81988905#Comment_81988905

Likewise, money goes to whatever account offers the higher rate. If I run out of money then I take from the lower paying accounts to fund the higher paying ones. The regular savers that operate almost like easy access savers, such as RBS/NatWest DRS and Lloyds monthly saver, are great in this regard.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81988811#Comment_81988811

I think it varies. I've recently done some in the app, but had to fall back to online in one case, and failed miserably with BoS.