Regular Savings Accounts: The Best Currently Available List!

dlevene · 9 July 2007 at 11:32PM

Thanks for the hard work!

Is it more profitable to use the Monmouthshire ac @ 6.5%, saving the full £1000 pcm, or the YBS ac @ 7% saving £500 pcm?

Surely a significantly larger amount compounded at a slightly lower rate is better?

bristolleedsfan · 10 July 2007 at 8:16AM

dlevene wrote: »

Thanks for the hard work!

Is it more profitable to use the Monmouthshire ac @ 6.5%, saving the full £1000 pcm, or the YBS ac @ 7% saving £500 pcm?

Surely a significantly larger amount compounded at a slightly lower rate is better?

as both monmouth BS and yorkshire BS pay interest annually, at current rates its better to firstly pay maximum 500.00 into yorkshire BS, secondly 250 per month into scarborough building society ( 6.55% gross) and thirdly up to 1000.00 per month into monmouth BS

dlevene · 10 July 2007 at 9:06AM

Ta very much

Who?_What?_Where? · 10 July 2007 at 9:26AM

MSE_Andrea wrote: »

We've asked board guides to limit the number of sticky threads on a board to five where at all possible and there are already seven on the Savings board ...

Without wishing to value one thread more than another, the Savings FAQ has got about 9 and a half thousand views in over 2 years, while this thread has got over 3 thousand in just over 2 weeks. Long-term, IMHO it will become as popular as Kazza's thread, which has over 31,000 views! (and which has been de-stickied even though there are only 3 stickies on the ISA sub-board, all with fewer views).

Special_Saver2 · 10 July 2007 at 7:02PM

MSE_Andrea wrote: »

Hi

Just to answer a couple of points on here so you can all read it.

We've asked board guides to limit the number of sticky threads on a board to five where at all possible and there are already seven on the Savings board including, as someone's mentioned, the official discussion thread linked to Martin's article, which is regularly updated.

If you could post the information in this post in the official thread instead, that would reach the widest audience possible and would be a great help to all the MoneySavers who come through to the forum from the main site.

PS, just to remind you the Board Guides are volunteers who have their own full time jobs and lives to lead as well as helping us out here on the forums. It can take them some time to reply.

Andrea

Sorry folks, I did not realize that there were posts that I had not read on page 2 of this thread - I have just realized this and seen MSE Andrea's message. I can confirm that MSE Andrea was not the person that I sent a private message to. I don't feel I should "name and shame" the person that has not yet replied to my PM.

I will post a link to this thread in the official thread. This thread is like Kazza's excellent ISA thread - the first post is continually edited to keep it up to date and so people need only look at the first page. That is the beauty of how this thread works.

I will also place links to any threads that keep getting continually discussed at the top of my thread. That way if somebody else asks the same question that has been asked before, e.g. "Are regular savers worth it?" then you can point them to the link at the beginning of my thread.

MSE Andrea, why are we limited to just 5 sticky threads?

Special_Saver2 · 10 July 2007 at 7:13PM

bristolleedsfan wrote: »

as both monmouth BS and yorkshire BS pay interest annually, at current rates its better to firstly pay maximum 500.00 into yorkshire BS, secondly 250 per month into scarborough building society ( 6.55% gross) and thirdly up to 1000.00 per month into monmouth BS

I would completely agree. I would be tempted to fill up a Nationwide BS account third as they do have that nice interest rate guarantee which I find quite attractive. Both Monmouthshire BS and Nationwide BS are currently paying 6.5% interest although the Nationwide account is guaranteed to go up by the full 0.25% next month.

In response to the idea in the above posts, I am going to go back to the beginning of this thread and re-order the accounts with the highest paying accounts first.

Edit: Okay, after re-ordering the accounts I can see that the Bath BS account is probably the second account you would want to fill - if you live near Bath or opened one of these before they imposed the geographical limitation! I hope that Yorkshire BS pass along the 0.25% rate rise this time (they didn't last time). Even if they don't, then they will probably remain top choice anyway.

bristolleedsfan wrote: »

imo this R/S sticky http://forums.moneysavingexpert.com/showthread.html?t=412414
should now be removed and replaced with new R/S sticky, with rates of best paying accounts, thats assuming that the R/S listings and rates could be amended if they was contained within a sticky.

That is possible - Kazza managed to do it.

sav4it · 10 July 2007 at 7:31PM

Special_Saver2 wrote: »

I don't feel I should "name and shame" the person that has not yet replied to my PM.

You don't have to. Redfox did a perfectly good job of that him/herself by responding when there are only 2 boardguides!

Former_MSE_Andrea · 12 July 2007 at 9:24AM

Hi guys

I'm really sorry. I didn't mean my post to sound off at all. We just don't demand that board guides check their boards every day and, yes, I do get a bit defensive of them if I feel they're being criticised.

Redfox is having to stand down for a while though and we're looking at getting a new board guide to join Isasmurf who also isn't around as much as they used to be and would like to be. We'd like it to be one of the current board guides but if that's not possible we'll open it out to others so perhaps have a think about whether you'd be interested in helping us out if we do

Someone asked about the number of stickies - we limit it to five because some people don't like having to scroll past them to find the new threads.

We are going to have a look through the savings boards and see if any of the sticky threads could come down now.

One thing I need to point out though... The official discussion thread is there for people to discuss the Regular Saver article and report any better deals they may spot. We don't get time to read every thread on every board so if they don't go on that thread we can't always be sure of seeing them and it helps give us a heads up when they do.

This is a great thread, thanks to everyone that's posted on it. I'm sorry I've taken it a bit off track.

Take care,

Andrea

Special_Saver2 · 12 July 2007 at 7:21PM

Thanks Andrea.

I have now received a reply from the person I originally sent a PM too. He or she was quite nice about this thread but said there are too many stickies already.

To help avoid clutter and duplication of messages on this board, I have been trying to give links to useful Regular Savings threads at the beginning of this thread. From what I can see, there are some topics that have been discussed frequently, so it is easier to just refer people to an existing thread, which they can add to if they wish. I have put these links in the first paragraph of the first post of this thread.

If anybody sees a useful thread on regular savings (or related things like feeder accounts) that I have missed that is worthy is being "semi-stickied" at the beginning of this thread, then please send me a PM and I will add it.

I think mary, bristolleedsfan, sav4it and RayWolfe should be considered for becoming new board guides. I have not been here long but from what I can see, they are here quite a lot and leave plenty of helpful advice.

Special_Saver2 · 12 July 2007 at 7:26PM

Oh, I should add Kazza242 to that list too!

Regular Savings Accounts: The Best Currently Available List!

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