Are regular savings accounts worth it ?
Comments
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According to my details for this years self assessment I earned £733.10 from regular savers last year so I'd say it was worth it. It all adds up
Yeah but I reality you should have earned twice that much if the Regular Savers actually paid what they advertised they do (said and thought far too many posters on here!!).0 -
Not that old chestnut again
They pay exactly what they advertise and don't forget the money that is not deposited is earning interest elsewhere
If you find a savings account that pays interest on money not yet deposited let us know, I'm sure they'll be wildly popular0 -
Do you have somewhere else to put your money that pays a higher rate? If so then they're not worth it. If not then they are worth it.0
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Not that old chestnut again
They pay exactly what they advertise and don't forget the money that is not deposited is earning interest elsewhere
If you find a savings account that pays interest on money not yet deposited let us know, I'm sure they'll be wildly popular
I think that veryintrigued was making a joke.0 -
Apologies to veryintrigued if so
Still, it's only a matter of time0 -
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The reason I asked the question was because I got different answers using different Regular savings calculators.
Here, thisismoney , moneyfacts - they all give different returns.0 -
@redandwhitestripes
Compare your calculator experiences with this one:-
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator
It would benefit everyone if you find an error that can be demonstrated and then later rectified.
J_B.0 -
redandwhitestripes wrote: »The reason I asked the question was because I got different answers using different Regular savings calculators.
Here, thisismoney , moneyfacts - they all give different returns.
Put the following formula into Excel and it will give you your total balance at the end:
monthly deposit*((1+interest rate)^(Number of months/12)-1)/1-(1+interest rate)^(-1/12))0 -
@red.pipes
we all go to the internet to find our answers
and we get different answers....it's not a GOD0
This discussion has been closed.
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