How many regular savers do you have? - The League Table

happybagger

A few maturities and a handful culled, leaving:

28 RS accounts, £7600 p/m, Average 5.81%, typically for new accounts not fussed under 5.4%

clairec666

Can't remember when I last updated, but it seems my figures haven't changed - still on 22.

I've got two maturing this month (Hanley and West Brom) and three next month (Principality, Zopa, Furness), and none of them are currently offering an adequate replacement. Hopefully something will come along to take their place - we'll see if Principality have a Christmas offering this year.

george4064

My current regular savers:

• Lloyds 8% £250 p/m
• Zopa 7.1% £300 p/m
• First Direct 7% £300 p/m
• Chase 6.5% £300 p/m
• NatWest 5.25% £150 p/m

So 5 in total, average rate of 6.77%

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82163175#Comment_82163175

Unless you've only opened all those this month, and therefore only have those amounts stated in them, 6.77% won't be your average rate (even then the average wouldn't be 6.77%, as each account would have a different amount in it. The way you've worked it out, 6.77% would only be the average if every account had the same amount of money in it).

You need to work out your average rate by totalling the amounts in each account

george4064

https://forums.moneysavingexpert.com/discussion/comment/82163217#Comment_82163217

Gotcha. Therefore, I think my weighted average rate is 6.1%.

Largest balance is in NatWest by quite a margin, so thats dragging it down..

I guess my min rate would be 6% to open another RS..

Bobblehat

@george4064 Welcome to the RS League Table… happy to receive your contribution to the stats 😀

I've put your updated figures in the table (after @surreysaver calculation tip) and they will appear in the next update at the beginning of November.

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82163097#Comment_82163097

@clairec666

My Oct/Nov maturities closely resemble yours! I'm also head-scratching for replacements.

Related to the above, I've noticed Earl Shilton's online RS applications have been "paused" for approx 50 days … strange definition of "shortly" in their announcement of …

"We expect applications to reopen shortly and thank you for your patience and understanding."

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82163410#Comment_82163410

Mine also, except I was silly and jumped on Principality on launch day even though I had already opened Hanley and sent off for Scottish. No Zopa for me.

I believe we won’t have access to West Brom funds until November, so there is enough (with Furness) maturing then but not too much.

Next October I am covered because Melton (Adcock maturing 30/9/27) funds did not land early enough for them to be used that month, and the interest that I sent to Scottish RS ended up treated as October’s deposit. Tipton Save and Grow will be November. End of November is not looking good yet but I do have the Suffolk 5% fixed issue as it allows early closure.