The Top Regular Savers Discussion Thread

masonic

https://forums.moneysavingexpert.com/discussion/comment/81885596#Comment_81885596

I would take the opposite stance. A RS with a high balance, especially one with a high rate, is generating more interest than one with a low balance. Not running a higher paying one to term will generally result in a greater opportunity cost than a lower paying one. Monthly contribution limits would need to be weighed up too.

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/81885601#Comment_81885601

When needed I withdraw from the lowest %.

These are on my radar in the next few months:

loyds 5.25%

NatWest and RBS 5.25%

Loughborough 5.4%

Manchester 5.4%

Bos 5.5% l

Dudley festive 5.5%

Darlington 5.75%

Loughborough 5.8%

where_are_we

When I was young I would go out and enjoy myself, I was not very money savvy and financial institutions made money out of me. This all changed when I settled down, we bought a house, married and had children. I became money savvy for the sake of my family. MSE has helped me regain my early losses to financial institutions but where do you draw the line. I realise my gain is achievable because many of the adult population are being taken advantage of by 0% to 1% interest rates on large sums in current accounts and savings accounts and high credit card interest rates. Thankfully the internet is helping redress the imbalance. I am a little uncomfortable with the morality of taking advantage of others in this way. By the way I still go out and enjoy myself!

s71hj

https://forums.moneysavingexpert.com/discussion/comment/81885606#Comment_81885606

I want to do some refreshing to free up some cash but ideally accounts that can instantly be reopened. Anyone got any thoughts on best ones?

UKX69

https://forums.moneysavingexpert.com/discussion/comment/81885564#Comment_81885564

Like you, I’m aiming to spread my RS throughout the year and being extremely self disciplined and only opening one every month. That is not to say that if an exceptional opportunity came about I would ignore it. On the other hand, if I needed cash urgently, I wouldn’t think twice about clearing out accounts. I’m not the type of person to look back and regret actions - I would look at it as an opportunity to travel in a different direction.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81885615#Comment_81885615

Lloyds and Halifax are amongst the easiest, but you've not mentioned which accounts you have.

Bob2000

I'm sure l seen a while back on this thread that Principalitys were launching the Heathy Habits account and a winter maturity also.

I've just sent my maturity request for my 6-month issue 4, and there was nothing regarding these accounts? I opted for the R.S. bond issue 37 with a quid instead..

clairec666

Thanks all for comments. To be honest, it's not causing me much of a headache, and is just a nice excuse to play around with a spreadsheet!

Lowest-rate up is the obvious strategy. I've already emptied Natwest and RBS. The only other ones under 6% are Halifax, Darlington and Skipton. We've been spoiled for choice with 6%+ accounts, some of them will have to go!

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/81885564#Comment_81885564

Last Principality comment from me, they offered customers the option of opening another regular saver. That is the key.

Back to normality, next month to 6 weeks is going to be difficult for me to fund a lot of my RS but I rarely cull any.

Like you I've been using the likes of Nat West and RBS and their access to help me out but once the (nooooooo) next Principality RS matures I have nothing of note till Co op and First Direct the end of March which instantly gives me another 6k to play with, I think ANOTHER PBS RS and a Suffolk one is due soon too.

Come July/August time I really will be getting regular maturities, until then as the tax year doesn't really affect my circumstances (in other words ISAs are nice but by no means a necessity) its simply a case of funding the highest earners first.

If I really am struggling to properly fund my bigger RS I may look to close one or two but as of yet I'm ok for a month or two.

snookerloopy96

***Replying to where_are_we

quote function didn't work!!

The older generation are particularly susceptible to this. They think because they had a previously decent rate 6 or 7 years ago that they still do.

Its only when they look closer they find they're earning about 0.75%.