The Top Regular Savers Discussion Thread

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82165401#Comment_82165401

I assume the thinking is to fund it on the 1st with everything else, but given there’s no way to get two payments in quickly, to me it would make sense to minimise the risk of ending up with no account by opening it on another memorable date (payday, the day of the month that is your/other half’s/parent’s/child’s/pet’s birthday etc)

masonic

https://forums.moneysavingexpert.com/discussion/comment/82165499#Comment_82165499

Chase has instant account closure for most of its accounts, so it may be possible to refresh on the 1st if still available.

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/82165382#Comment_82165382

Chase regular saver 

I applied for the c/a and immediately opened the RS.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82165380#Comment_82165380

5% RSs

Yes, it all depends on personal circumstances and preferences. I have plenty of spare capacity in 5% EAs. Variables can change, but when this happens the changes are usually small and most of them mostly in line with the base rate. If 5% variable RS increase to 5.25% it is likely that there will be EA products matching this rate and there will be new RS products offering a higher rate. These assumptions are based on my own observation of the patterns over the past few decades, things can change of course. At some point (can't remember the year) I withdrew all my ISA funds from Yorkshire bank because the ISA rates were far too low across the board, I could get significantly better return from none-ISA savings accounts after tax. That was probably a mistake, some years later ISA rates increased and I had to start building tax free savings from scratch.

If all my 5% EAs drop the rates and there're no matching offers I will go for 5% RSs with favourable terms.

Bigwheels1111

https://forums.moneysavingexpert.com/discussion/comment/82165493#Comment_82165493

That was me until last year.

Around 18k tax free. As I got a job I owe 4k in January. OUCH !!!!

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82165488#Comment_82165488

The previous Principality Christmas was launched in December 2024. Winter version was launched in December 2023.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82165663#Comment_82165663

Better than the same happening next year I suppose, otherwise that 4k would be 4.4k.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82165665#Comment_82165665

jd84 is correct about last year. This is for a launch day account

Born2Save_3

https://forums.moneysavingexpert.com/discussion/comment/82165663#Comment_82165663

If your income is purely from savings interest then I think you receive allowances of £12570 + £1000 + £5000 = £18570

So to generate ~£19K annually from savings accounts paying 5% you'd need around ~£400K invested. And if you rent one or two rooms in your house there is another £7K income tax free.

Born2Save_3

Darlington BS RS I4

I'm not sure of the differences, if any, but the account summary sheet is now V2, updated this month. The original version, V1, was updated last month.