The Top Regular Savers Discussion Thread

Born2Save_3

ESBS Monthly Saver Online

I saw this mentioned previously, but not sure if there was a clear answer.

The website 'Summary Information' states in Additional Information : 'Are happy to make at least 1 payment per month (minimum £1)'

What are the consequences if you don't ? I can't see any, but haven't looked that hard.

Has it been / will it be enforced ? May be meaningless if there are no consequences.

Is there some grace period of missed months / days ? (Say like Stafford BS)

Does this apply to the passbook version ? If so can anyone comment if they have missed any monthly payments ?

Thanks

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82100811#Comment_82100811

Moneyfacts says it would be closed, but I haven't seen that anywhere else.

What_time_is_it

Beverley Regular Saver

What date is interest paid? 1 year after opening, or 1 year after first deposit?

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/82100825#Comment_82100825

Beverley Regular Saver Issue 3

Account opening, it seems from the product summary sheet:

"On maturity this account will transfer into the Instant Access savings account, this will happen

One year from the account opening date."

"Interest is accrued daily and added to the account on the date of maturity at close of business that day.
"***Condition Bonus - Each month a deposit between £10 - £500 must be received into the account, the account should see no withdrawals in the one year term and the account must remain open until the one year term has completed in order to receive the bonus payment."

Born2Save_3

For a really rough estimate I take the expected total invested and multiply by just a bit over half the current interest rate.

Example: 12 Months, £500 monthly, 6%A

Below, I've estimated that 0.032 is just over half 6%A

So £6000*0.032=£192 approx profit

You can play a bit to get an idea and what works for you. For fractional or multiple years or both, this can be factored in :

6 Months: £3000*0.032/12*6

18 Months: £9000*0.032/24*18

2 Years : £12000*0.032*2

Note, examples above that are longer than 1 year do not include compounded interest.

gt94sss2

I hate to ask, as you do so much already, but on your wonderful records for the new accounts, would it be possible to add a line for estimated total interest for a 'perfect' payment record of the maximum contributions? Would other people also find this useful?

This information is already included in summary box published by each provider. I'm not convinced of the benefits of adding it to the first page..

What_time_is_it

https://forums.moneysavingexpert.com/discussion/comment/82100832#Comment_82100832

Thanks. Reckon it’ll still be around on Monday? Or should I apply before the weekend to make sure?

Born2Save_3

https://forums.moneysavingexpert.com/discussion/comment/82100849#Comment_82100849

If you want it for sure, ASAP…. Speaking from past experience of missing out on 2 good ones.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82100843#Comment_82100843

To be fair they don't account for 13th/11th/7th etc payments etc, or moving the funding dates to the optimum, so I can understand them asking the question.

What_time_is_it

https://forums.moneysavingexpert.com/discussion/comment/82100853#Comment_82100853

What worries me is that if I open a Beverley Regular Saver tomorrow it will mature on Friday 13th August 2027 and I won’t be able to withdraw from it until the following Monday so I will have the weekend where it earns no or very little interest.