The Top Regular Savers Discussion Thread

cc123mm456

Skipton

The issue with online maturity instructions failing to register is not a new problem. I had exactly the same problem last year. Also, if I remember correctly I believe that it was the same the year before that.

Now I just ignore the reminders to register maturity instructions for Skipton. On the day of maturity the balance can be moved out manually, and the account can be closed online.

topyam

https://forums.moneysavingexpert.com/discussion/comment/82072346#Comment_82072346

The email never mentioned it. Just said it would go into a pot (offering less interest)

Hopefully the RS will pop up as being an option

topyam

https://forums.moneysavingexpert.com/discussion/comment/82072402#Comment_82072402

Have all those except the Halifax one, as I'm a new customer

charlieboycat

Scottish Building Society - Setting Up New Login etc

After the screen where you input your email and new password, a screen requesting username and password opens. But which username/password does it want? The old numeric username/old password combination, or the new email username/new password combination?

clairec666

Skipton's regular savers may not seem too appealing right now given the recent influx of higher rates. But they're quite useful because any unused allowance gets carried over to future months. If you open with £1 you can put in a larger lump sum further down the line. Might be helpful to some people. No withdrawal except for closure, but it's straightforward to close.

jaypers

https://forums.moneysavingexpert.com/discussion/comment/82072402#Comment_82072402

I feel that even a 6 monthly one at 7.1% is worth it so will probably renew once my current one matures. Where I am starting to draw the line is anything under 6% now that there have been a few very good ones launch (starting with Bucks). Because of this, I’ve opened quite a few new ones so binned off a couple of 5.75% ones.

huw01

https://forums.moneysavingexpert.com/discussion/comment/82072489#Comment_82072489

£300 @ 7.1% for 6 months =£36

£300 @ 5.4% for 24 months =£409

Even is you opened the zopa four times in a row you only get £144

To me the 24 months @5.4% is more appealing

roked

https://forums.moneysavingexpert.com/discussion/comment/82072504#Comment_82072504

I am not sure if this is a correct comparison, unless you mean its more appealing from an ease perspective. In the 24 months example, by the end, you are also paying in 4 times the funds that could be earning more interest else where. Of course there is the situation that the earlier funds are earning the 5.4% for longer, still would pick the 7.1% and use lower amounts for the rest of the funds

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82072504#Comment_82072504

That's because 4x 6 months accounts means you only need £1800 to generate £144 interest. Each time it matures you can start again from scratch and feed it back in.

To generate £409 interest from the 24-month account you'd need to deposit a total of £7200.

huw01

https://forums.moneysavingexpert.com/discussion/comment/82072532#Comment_82072532

Yes I get what's being said but many people just look at the headline rate and disregard the term, how many people on here have said I don't bother if it's under X%, but that's on the assumption that most regular savers are for 12 months, but there are shorter term ones now 6 months for example that have a headline grabbing rate.

For regular savers the compounding comes from the term and not the rate. If you can fund one of the longer term ones don't automatically disregard it because it is under a certain rate.