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The Top Regular Savers Discussion Thread
Comments
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Depositing £500 per month till December would have resulted in way more than £4 interests (providing you would have close it in January so as not to lose the bonus), if I were you I would do a better research (it's £2.29 monthly x 5 months on the first £500 + £2.29 monthly x 4 months on the second deposit and so on … you do the math and you should have interests around £34.35). The account gives the best results leaving the money all the next year of course when, starting the 1st January you earn full interests on what has been deposited already during 2026
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@allegro120's maths is correct.
£4 is (roughly) the amount you'll gain by putting £500 a month into Beverley instead of keeping it in their feeder account at 5%
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There are two different kettle of fish, sorry I would never compare two different financial products this way. The feeder account doesn't offer me possibilities that I would have with the regular saver and vice-versa
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As long as the rate remains competitive and as long as you don't need to break into the account, the account will give excellent returns. With no end-date, your balance will keep increasing and it won't reset to zero at the end of a year's saving like most RS accounts; this will continue until such time as you choose to close and withdraw the whole balance. Great for saving for something big, or just to get a good return on your money. Unlike RBS/NatWest RS, there is no maximum balance for the interest rate. If account becomes uncompetitive in the market, it can be closed at the end of the year (similar to a fixed term bond).
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Regular Savers are just more restrictive versions of easy access accounts. If I had a choice between a 5.5% RS and 5.5% EA account, I don't see that there are any possibilities missed by opting for the EA.
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The only problem is that at the moment I don't see any 5.5% EA account, but I accept a different vision. On this particular subject I've always thought in a different way compared with the majority of the forum, starting since the long months of the Principality saga :-)
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If you know for sure you won't need access to your money for a long time, then it's a fantastic account! 5.5% interest on potentially quite a high balance if you keep funding for a long time. Obviously tax could come into play.
Not for me because I don't want to lock my money away for a long stretch, but might suit other people very well.
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Going by the figures they give for other bonus RS's they have, eg 2.7% + 0.5% bonus, it's like having two RS's at 1% and 4.5% but using the same money, so each is compounded. But if you break a rule you only get the 1% interest. The advantage comes in the second year when you can start with a lump sum of £3000+.
They're unusual accounts, perhaps explained by their member Annette who may like advanced maths - see "Case Studies - Savings" on the website.
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Indeed. But there are 5% accounts, so the benefit of a 5.5% RS should be measured using the difference between one of these and not "possibilities missed" if none can be identified.
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I can't, and I will never will, calculate between different type of account not having the slightest knowledge of what will happen with the interests' rates in the near future (and RS look like more prone to less cuts compared with EA account, at least in my experience. Take the Adcock account, on this forum you can find forecast of wild cuts, but today, and it's been running for 17 months, is still 6.5%). No financial balance will ever be written with a 'guess', at least in my books :-)
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