Regular Savings Accounts: The Best Currently Available List!
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Just to let people know with regards to the Leeds Building Society Issue 3 account which is due to mature 31st Oct 2017, I just phoned Leeds to ask how this worked and was advised that they would be writing with maturity options 14 days before the 31st Oct.
I asked whether return of funds electronically was an option and was told that this should be available fee free.
I guess I'll see what savings options they present...0 -
mgarl10024 wrote: »Or drop the monthly payment to £50 and withdraw £600? New to me, but that's my plan anyway...
Thanks for this, very useful, calendar adjust accordingly.“Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”0 -
Is Leeds the only Building society with an open ended regular saver - no actual maturity date (except for a maximum deposit)
I keep a projected list of regular saver payments going out and maturity dates with payments coming in (as accurately as possible) up to about February 2019 - possibly a few more Virgin regular savers along the way.
I was just thinking of how likely it might be for a bank or building society to come along in a few years time with a cash ISA paying over 3% gross interest - so as each regular saver matured the contents would filter into this ISA and we no longer have to juggle monthly savers (apart from things like First Direct and marks) - my mother always did say I lived in a fantasy world“Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”0 -
I was just thinking of how likely it might be for a bank or building society to come along in a few years time with a cash ISA paying over 3% gross interest - so as each regular saver matured the contents would filter into this ISA and we no longer have to juggle monthly saversEco Miser
Saving money for well over half a century0 -
I send my books to Leeds each month and they always make it back, I closed my issue 3 last month by filling out the closure that comes back with the passbooks.
I then got a cheque back in the post along with Issue 4 and 5 books.
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mgarl10024 wrote: »Or drop the monthly payment to £50 and withdraw £600? New to me, but that's my plan anyway...
What's the minimum monthly deposit?
If it's £10, you could withdraw £120 and pay in £10pm.
If it's £1, I would just withdraw £48 and forget about it for 4 years0 -
Speculator wrote: »What's the minimum monthly deposit?
If it's £10, you could withdraw £120 and pay in £10pm.
If it's £1, I would just withdraw £48 and forget about it for 4 years
No, the £50 was chosen deliberately as it is the minimum.0 -
mgarl10024 wrote: »No, the £50 was chosen deliberately as it is the minimum.
Ok thanks. Just found the Full details here.
You will need to withdraw more than £600 because interest/bonus is credited to the account.
You are allowed 1 withdrawal per bonus period so it may be wise to make your withdrawal just before your bonus is paid. I will withdraw £750 to cover the interest.
I will then be free to make another withdrawal if I wish after the bonus/interest payment date 31/8/18.
I will hit £6000 on 1st Sept 2018 but will make a £750 withdrawal a week before the bonus is paid (31/8/18) giving me another penalty free withdrawal after 31/08/2018
Another method is to withdraw say £400 before the bonus date then make another withdrawal when you near the £6000 mark in 2019.0 -
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Speculator wrote: »You will need to withdraw more than £600 because interest/bonus is credited to the account.
Not sure that's right. Just checked my saved copy of the terms and it says "The maximum investment balance is £6,000 (excluding accrued interest). "0
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