Best strategy for regular savers?

The_Fiddler_2

steady__eddie wrote: »

"Which regular savers are the more long term ones? (last for longer than a year)"

Scarborough, Yorkshire, Bath, Skipton, Derbyshire, Cheshire, Monmouthshire, Hanley, Newcastle, and Saffron for starters. These may not be the highest payers but I support them for "membership" purposes hence the lack of non-mutual organisations.

Wow, do they all last longer than a year, I must check them out - thanks for the info.

bristolleedsfan

The_Fiddler wrote: »

Wow, do they all last longer than a year, I must check them out - thnaks for the info.

Furness BS Reg Saver lasts for 3 years min 10.00 a month. ( 6.20%)

0800 781 4311 http://www.furnessbs.co.uk/savings/regular/regular.html

ongoing at http://www.beverleybs.co.uk/investments_monthly.cfm ( 6.10%)


3 year, monthly payments cant be reduced otherwise bonus is lost.

http://www.newbury.co.uk/savings/products/monthly-saver.html

RayWolfe

The_Fiddler wrote: »

Are you sure about that, the interest rate I mean?

Afahmaep is entirely correct, the 6.5% applies provided your net addition is £200 or more.

The_Fiddler_2

RayWolfe wrote: »

Afahmaep is entirely correct, the 6.5% applies provided your net addition is £200 or more.

So you could for argument's sake take out £600 and then put in £200 and still get the 6.5%?

Fella

The_Fiddler wrote: »

So you could for argument's sake take out £600 and then put in £200 and still get the 6.5%?

No, that'd be a net -£400

mary

On the supposition my money has transferred without a hitch to the new Northern Rock Fixed Access Bond Issue 1 at 6.95% over the weekend, I would now like to leave that money in there for as long as possible, and reduce monthly payments into feed Regular Savers where the rate is 7% or just a bit above. With days lost in transit, it has reduced the margins. As I have some 21 RS accounts, does anyone know off the top of their head, which ones you can change the amount without any penalty - I believe Yorkshire BS.

How about Bath, or does anyone know of any others?

bristolleedsfan

mary wrote: »

On the supposition my money has transferred without a hitch to the new Northern Rock Fixed Access Bond Issue 1 at 6.95%

u was lucky to get 6.95% everybody else only got 6.90%

Most Building Society ongoing reg savers can be varied, a few exceptions are

Newbury ( in order to get bonus)
Beverley ( monthly payment can be changed after 6 months)

TBH a lot of people have reduced the no of reg savers by sticking 100.00 in a high paying account where possible.

From memory Bath payments can be increased but not decreased.

Dunfermline Monthly Saver Issue 1 couldnt be varied, im not certain about Issue 2.

These can be varied, Skipton, Scarborough, Tipton, Nottingham, Norwich ( ongoing reg saver), Monmouth ( with notification) Leeds, Furness,

mary

Typo, sorry 6.9%

bristolleedsfan

mary wrote: »

Typo, sorry 6.9%

What rate are your reg savers feeding from out of interest.?

bluebeard_2

West Bromwich BS have a RS account called Magic 8. This WAS 8% with a max of £1000 per month. It has since been reduced to 7.75% but that is still very good. On closer inspection it seems the high rate includes a bonus if certain conditions are met and the actual interest rate is 5.25%. Anyone else experience of this account?