The Top Regular Savers Discussion Thread

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82044389#Comment_82044389

Wow. Haven't seen 8% for a while.

For anyone who's interested, maturity is from date of opening rather than date of first deposit… however I wouldn't want to risk missing out on such a great rate so I'm not going to mess around trying to get the "perfect" maturity date.

Also notable is that a "month" is counted from the day of opening, so if you open today then a new month will start on the 23rd of each month (similar to Zopa and First Direct, for example).

Hattie627

Have applied to close existing Santander RS (issue 21 at 5%) via the chatbot. Will take a couple of days to close (based on past experience) before I can open the new one.

Santander don't have a history of pulling their accounts within days, so here's hoping this one will last long enough to enable existing RS holders to open.

The new RS doesn't seem to have an issue number, which seems strange.

Growingold

Santander RS 8%

Opened within minutes and funded. Though I didn't have an existing RS to close first.

Def couldn't pass this one by. Thanks to DeerStalker 11 for sharing. :)

BestSeagull

Santander.

I have to wait for my 5% regular saver to be closed (having requested via chat). I'd prefer to open the new one on the first of the month. What do we think the chances are of the 8% RS being around that long?

Stargunner

I didn’t have a RS with Santander, as 5% is bellow my threshold for them. Opened and funded the 8% one from the app within a few minutes.

Hattie627

https://forums.moneysavingexpert.com/discussion/comment/82044446#Comment_82044446

Pretty good chance.

clairec666

Interesting bit of trivia I discovered while updating my spreadsheet…..

Interest of 8% on £200 per month is the same as interest of 6.4% on £250 a month. So Santander pays out the same as Buckinghamshire despite having a lower deposit.

Poor Buckinghamshire staff, still working through the backlog - if they'd released the account a day after Santander they might not have been quite so overwhelmed. Or maybe it would have made little difference…

s71hj

Just to save a few of your moments on Sandi, you need to get the balance to zero first

friolento

Those closing an existing Santander RS: if you have a Standing Order for it, you need to cancel it yourself

Section62

https://forums.moneysavingexpert.com/discussion/comment/82044389#Comment_82044389

Interesting this is a multi-year account - only the bonus ends after 12 months, the account continues as a £200/mth RS without the 5% bonus.

Santander have been known to extend bonus rate offers, so in a year's time we could all be discussing whether to withdraw the balance and close the account, or continue it with the new bonus rate.