Cheshire BS regular saver 8% Gross

Hobo_2

Cannot see where money has to stay in Easysaver for 60 days, looking at website.
However it does state "Closures allowed after the Regular Saver third issue has been opened for 60 days subject to 60 days loss of interest at the fixed rate"
More of a cooling off period.
Also it is like it`s HFX namesake, they inform you of the rate for the next 12mth period so after your money is swept out, you can choose to carry on for another 12mth with the Regular Saver.

jb478914

Does anybody know what the customer service is like at the Cheshire?

Very interested in one of these a/c's to add to my HSBC and HFX

FTD

jb478914 wrote:

Does anybody know what the customer service is like at the Cheshire?

Very interested in one of these a/c's to add to my HSBC and HFX

I've never had a problem with them, always been helpful and polite.
(Mortgage & savings with them)

FTD

Dagobert

Dagobert wrote:

... the average yield during these 14 months is 7.3% gross.

I need to correct myself here: it is less than that. See my contribution when a regular saver is worth it:.

Following the calculation in the above thread, the actual interest your capital gains in the 12-months period is something like (assuming the same figures as in the other example):

pd = (pr+ps)/2 - (d*ps/365) = (8+4.8)/2 - (9*4.8/365) = 6.28%

But once taking into consideration the 2 months at a measly 3.15%, the average interest rate over the 14-months period is:

(6.28 * 12 + 3.14 * 2) / 14 * 12 = 5.83%

mdb99jh

Dagobert wrote:

After the 12 months, the money will bemoved to an "easy saver" a/c, where it will have to stay for 60 days.

Today, the "easy saver" would yield 3.15% gross for £6384 (interest rate depends on amount in easy saver a/c).

That means the money is locked away for 14 months; the average yield during these 14 months is 7.3% gross. Still an excellent rate.

Not sure this is correct. Doesn't it just say that you cant close the 8% account before 60 days? You should be able to close the easy saver immediately after the money goes in...

Dagobert

mdb99jh wrote:

Not sure this is correct. Doesn't it just say that you cant close the 8% account before 60 days? You should be able to close the easy saver immediately after the money goes in...

I was only quoting what I was told over the phone. The lady quite specifically said that you cannot access the money for 14 months. I'll have a look at the T&Cs once I get them.

Rikki

Can be held by a sixteen year old so I know where some of my sons EMA is going.

Hobo_2

Dagobert wrote:

I was only quoting what I was told over the phone. The lady quite specifically said that you cannot access the money for 14 months. I'll have a look at the T&Cs once I get them.

No mention here,

http://www.thecheshire.co.uk/InvestmentProduct/regular_saver_3rd_issue.asp

Nice " RS is it worth it thread" often wondered about that.

Int only mtg with Cheshire, so guess where monthly Capital + overpayments from salary are going

Dagobert

Hobo wrote:

No mention here, http://www.thecheshire.co.uk/InvestmentProduct/regular_saver_3rd_issue.asp

Of course, it's always possible that the advisor gave me incorrect information. The T&Cs should clarify that though in case the website is incomplete.

Hobo wrote:

Nice " RS is it worth it thread" often wondered about that.

Thanks!

Hobo wrote:

Int only mtg with Cheshire,...

Could you, please, translate that into English. I don't speak SMS.

BenL

You can't apply on-line.

I e-mailed this lunchtime for an application pack and they have phoned me back tonight.

The nice lady advised you can only apply on the phone and then they will send out application form partially completed to sign.

Took details in about 4/5 mins and it will be in the post.

Very happy with service so far.

Needed something to replace my abbey reg saver that matured on 1st Sept.

Get in quick before it goes on Martins e-mail (guess it will anyway).

Ben