Regular Savings Accounts Article Discussion

gregory77

Hello
My partner has sold her house and got £160 000 cash for it.
We are really confused with the Saving accounts situation. We know that we should have £80k in two separate bank but what is the best way to maximise the interests?
We want to save the money for a year or two.
Merci

KTF

Start a new thread with your question. You will get a better response.

colsten

Or search/browse the forum for similar questions.

Flobberchops

The Halifax Kids Regular Saver information is now out of date, it's dropped from 6% to 4%.

Speculator

Flobberchops wrote: »

The Halifax Kids Regular Saver information is now out of date, it's dropped from 6% to 4%.

The last post was over 6 months ago.

eskbanker

Speculator wrote: »

The last post was over 6 months ago.

....but since this thread is in place specifically for discussion about an MSE page that claims to be updated weekly, the fact that there haven't been any noteworthy changes in recent times doesn't make it any less legitimate to highlight one that's missing from the article when it does happen!

polka.dot

Has anyone else notice the apparent fault in this calculator?
www.moneysavingexpert.com/savings/best-regular-savings-accounts#regular
This is what it tells me:

Using just the regular saver at 4% to save £200/month will earn me £51.69 after a year. So far so good.

Having £2,400 in a normal savings account at 3%, and drip feeding £200/month into a 4% regular saver:
After drip-feeding the cash for 12 months...
Total interest earned: £85; £33 from the normal savings & £52 in the regular saver. If you'd kept the money only in the normal savings account you'd have earned £33 in interest.

Given that £200 would be disappearing from the normal savings in the drip feed scenario, it is not possible that the interest would be £33 in both scenarios.
:money:Martin - please get the geeks to fix!

colsten

what figures did you use?

polka.dot

That's interesting - must have been something going on yesterday, as both my partner and I tried with the same results I described in my original post - yet today it works (I have just tried). Haleluyah!

beegee757

Help!

We have made the big decision to send our little one to private education - we are looking for a good savings account where we can maximise our regular monthly savings, but that allows us to withdraw the cash 3x per year in order to pay school fees (NB will require interest to be applied monthly, rather than annually).

Does anyone have any thoughts?