The Top Regular Savers Discussion Thread

masonic

https://forums.moneysavingexpert.com/discussion/comment/82192130#Comment_82192130

That suggests Tembo isn't sweeping received funds out of their central holding account very promptly. The question is whether there is a fixed delay, or there are specific days when they do a payment run.

SH88SH88

https://forums.moneysavingexpert.com/discussion/comment/82192159#Comment_82192159

The cynic in me wonders if it's a hidden part of the business model ... offer a high(ish) headline rate to attract , and then claw back around the edges with slow transfers in/out etc.

And so the 8% becomes , effectively, not quite 8% .....

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82192178#Comment_82192178

I'm sure someone will work it out with the help of a spreadsheet, but my rough calculation based on 3 days interest lost each month means the 8% looks more like 7.2%.

So I guess if you fund your accounts "top down" you should fund other 8% accounts first.

All irrelevant to me as I was an existing Tembo customer 😪

happybagger

I reckoned on 7.93% based on 362/365 days

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82192236#Comment_82192236

That sounds more like it. I can see the error in my calculation. Each time you deposit, it'll earn a few days less interest for that month, but will get the full month in each subsequent month.

I think a fair assessment would be that it's effectively a bit less than 8%, but not by a huge amount, and still beats the majority of other regular savers on offer.

dealyboy

Tembo RS deposits

OK I have now made two £250 deposits into the regular saver and both are showing same day transaction dates, both were made 'manually' by open banking 'instant bank payment'; first on 27th October about 9.15am and second on 3rd November at around 8.10am.

I like to keep things simple and assured so only make deposits on weekdays early morning and I try to avoid D/Ds (I don't think there's anything wrong with D/Ds and I know it's more work but I like to be in control).

I know I'm not the only one who has achieved same day deposits by transacting early(ish) morning.

pecunianonolet

https://forums.moneysavingexpert.com/discussion/comment/82192343#Comment_82192343

I second that, 2 manual open banking transactions with HSBC, same day credit and same with OH also via HSBC and manual.

Baileys_Babe

9

https://forums.moneysavingexpert.com/discussion/comment/82192130#Comment_82192130

If you make the payments for slightly different amounts you will be able to see which was the quickest.

Bridlington1

With a BOE Base Rate decision due tomorrow, I thought now might be a good time to post another set of the lists of both currently available and NLA regular savers that I've posted a few times over the last couple of years.

A link to this post and the Regular Savers Snapshots Spreadsheet also appear on p1 of The Archived History Of Regular Savers Thread *** NO CHAT***, thread for ease of reference

Currently Available:

NLA:

topyam

Furness

RS maturing soon. Putting in my account details for it to go to. It is asking for a ref number to be entered… Normal bank account, so unsure what they're looking for?