The Top Regular Savers Discussion Thread

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82068842#Comment_82068842

Thanks, you're right. Intuitively the 3 month clear winner didn't make sense to me!

For me there's £9 in it (assuming they still have an 8% rate next April) so I may just leave it alone rather than have the admin hassle.

gwapenut

Strangely, for someone 6 months in, it seems to be much the same result to stick. Probably because you get a load of moeny dumped into low paying instant access for longer. Seems intuitively wrong though??

For some people you also need to factor in an extra 2% in tax if your existing account matures after April, which these new 8% RS will. Doesn't sound a lot but it's just enough to skew mine to virtually break even.

For a higher rate taxpayer with capital gains, it will also cost an extra 6% best case (24%-18%) in either tax year and this extra may become far worse if the FUD of equalising CGT with income tax is true, which is possibly ever so slightly more likely next tax year than this if it does happen. But that's a different discussion entirely, there are too many variables, whether political or whether that 4.30% savings rate goes up or down over the year. This is just a rought stab at it.

EDITED to fix more errors!

infoadict

CL MONTHLY SAVER

I prefer to fund all my monthly savers on 1st of each month, where possible

My CL Monthly Saver was opened 1st Aug 25. Therefore I expect it to end 1st Aug 26, however this is a weekend.

Does anyone know if this closure will take place on this date and I will then be able to open the new shiny 8% CL Monthly Saver. Or will I have to wait until the 3rd Aug?

ccluedo

https://forums.moneysavingexpert.com/discussion/comment/82068748#Comment_82068748

BOS

Unfortunately the above didn't work for me either.

After emptying, had to go via Help to get the account closed. Interest landed in my c/a but account hasn't disappeared and no options to open or apply for new MS.

Back to help who said "although closed, it will sometimes not let you open another until original maturity date"

I'll try again once the closed account drops off my profile.

Not too upset as I was planning to close it early anyway to free up some funds as it was lowest rate one I had.

where_are_we

Halifax RS renewal - online and quick to everyday saver with same account number- remember to log off and back in - empty everyday saver - open new 8% RS - fund it with £250 - set up 12 standing orders starting 1/8/26 (couldn`t see a £3000 maximum).

Remember to cancel standing order to old RS.

greypays

https://forums.moneysavingexpert.com/discussion/comment/82068801#Comment_82068801

Problem solved - user error I'm afraid (misread the option that would have taken me to the new RS as being just for a 1yr fixed term not a RS)

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82068841#Comment_82068841

Not sure how you'd put another £250 in this month?

shirley999

https://forums.moneysavingexpert.com/discussion/comment/82068881#Comment_82068881

Halifax

If you make a 13th payment in July 2027, you won't then be able to make a payment that month when it renews next year.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82068748#Comment_82068748

My BOS does not allow application for the 8% one. I closed the old 5.5 one this morning. It had another 2 weeks to run, so I didn’t lose too much, it was worth a try. It serms it works for some but not for others

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82068886#Comment_82068886

Unless you close any associated Halifax easy access savings accounts, when the regular saver will change into one upon maturity