The Top Regular Savers Discussion Thread

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82109529#Comment_82109529

Do you already have the 7.1% RS? Suspect it's gone for new applicants.

GetRichOrDieSaving

https://forums.moneysavingexpert.com/discussion/comment/82109485#Comment_82109485

that’s fortunate for me as mine matured yesterday and I renewed it without delay!

lon_don

https://forums.moneysavingexpert.com/discussion/comment/82109529#Comment_82109529

Zopa RS 7.10%

Same here. Mine matured yesterday 19/8. I couldn't find any RS under Pots. Chatted with cs who said the RS was no longer on offer. Then played around on the (also Android) app, found the RS under Benefits just like Max said, and was able to open a new RS 7.10% and put in £300. So it's still on offer, as of yesterday. Informed cs who told me well done.

saverkev

https://forums.moneysavingexpert.com/discussion/comment/82109607#Comment_82109607

Zopa RS

Thanks all for info - I closed my RS (due to mature next month) and opened a new one straight away

guli

https://forums.moneysavingexpert.com/discussion/comment/82109626#Comment_82109626

Anyone tried this Zopa “loophole” on their iOS app

saverkev

https://forums.moneysavingexpert.com/discussion/comment/82109667#Comment_82109667

Zopa RS

I did it on Android - went to Regular Saver pot then clicked on 3 dots top right and then "Delete Pot"

Anagran

Zopa

I have also just "deleted" my regular saver which only had a few weeks left until it matured. I was then able to immediately open and fund a new one, despite finding the app thoroughly confusing, so thanks for the info!

I am away back now to continue trying to work out how on earth to withdraw money from the "primary access" account it is now in!

ETA - Also on android

jaypers

https://forums.moneysavingexpert.com/discussion/comment/82109809#Comment_82109809

Doesn’t make sense doing this. Say you had £3,300 in there for a few weeks……that’s about 64p a day interest, or over £13 over 3 weeks. Their RS is now only for 6 months and will earn you about £35 over the whole term. Personally I’m not bothering with it when mine matures in a couple of months time (if available and only 6 months). Yes, I know it’s 7.1% but with quite a few decent other launches of late, it’s not worth the bother IMHO.

Anagran

https://forums.moneysavingexpert.com/discussion/comment/82109814#Comment_82109814

ZOPA

I haven't gone through the numbers in detail, but I think it does make sense and is worth the effort (for my circumstances of course).

The one I closed was also a six monther, so only had £1500 in it. I am short of funds for Sept payments anyway, so would have been withdrawing from a 6% regular saver on 1st September to fund the higher rate ones.

The money I have just withdrawn is now in a Santander Edge Saver at 6% and will go into regular savers at 6.4% and above on 1st September, and I will be able to save another 6 months of £300 at 7.1%.

I could be wrong, but my instinct is that I made the right call. Will be interesting to see once I have a proper look at the figures.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82109834#Comment_82109834

Everyone's individual circumstances are different, so while it might sound a bit counter-intuitive to close an account earning over 7%, but if you're short on funds it might be a good choice. Better to have the money now when you've got other places to put it. Also, if Zopa suddenly withdraw their regular saver, you'll be in a better position as you'll have more time left on your account.

I'm doing something this month that might not make much sense mathematically - withdrawing from Monmouthshire (7%) to fund other accounts earning between 6% and 7%. Sounds stupid… but when Monmouthshire matures next month I'll be stuck with a massive lump sum and will have to stick some of it in an easy access account until October. I've crunched the numbers, and withdrawing early and losing up to 1% for a few days means I can spread the money around better in September.