Regular Savings Accounts Article Discussion

aristote33

Has anybody reached the 12 month term, and applied for a new Barclays Monthly Savings Account, and drip-feeding it for another 12 months?

Is it something Barclays allows?

Thank you.

iblametheparents

aristote33 wrote: »

Has anybody reached the 12 month term, and applied for a new Barclays Monthly Savings Account, and drip-feeding it for another 12 months?

Is it something Barclays allows?

Thank you.

Yes, you can apply for another Monthly Savings account. The interest rate is now 6% compared to 7.75% - your original Monthly Savings account should now be a MoreforMore savings account.

ioscorpio

I've only just realised that Nationwide has put up the amount you can save in their Regular Savings Account each month to £1000 from £250 @ 2.5% which is better than the Esavings+ account.

apt

But with the Nationwide Regular Saver the rate drops for any month the balance does not increase by £500. There are better options for regular saving.

aristote33

There definitely are better options like the Barclays Monthly Savings Saver Account, at 6% gross, with £250 monthly max by standing order, without penalties for missing a payment.

DFB_2

I have not posted before, but my current regular saver ends next week. It is with the Halifax at 10%.
In order to boost the 4% that they currently offer, I have opened two reward current accounts for myself and my wife, where they pay £5 a month net for a monthly £1000 deposit. I intend to transfer the £1000 from my Nationwide Flexaccount to my wifes account, then 7 days later transfer it to my account, before paying into the two regular saver accounts. This will give us an extra £75, and £60 interest (my wife is not a tax payer) over the course of the next twelve months, boosting the rate to an equivilant of 6.35%

flyingscotno1

NickyDee wrote: »

Due to be launched on 25 July 2009 at 5% interest, monthly deposits between £25.00 to £250.00.

Really- that is good news. Might open one up and reduce the amount going into a lower rate one, depending on conditions of course.

What we don't know is what HBOS are going to do with there new one.

Platenail

Mid July 2008 I opened a 1 year 10% HBOS regular saver account with a 2% bonus if complying with t&cs.
£500 initially then £500 on first of month subsequently. (the second £500 only a fortnight after the first). That came to £6500 by this mid July and I have got just £350.14 interest.
I complied with the t&cs but do not think I have got the 12%. All the savings calculators that I can find only work for whole months. Can anyone please confirm one way or the other if that interest has been credited correctly.

RayWolfe

Sounds about right to me. At 10% you would have got around 300.

YorkshireBoy

Platenail wrote: »

Can anyone please confirm one way or the other if that interest has been credited correctly.

Can confirm it's correct.