Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Outsider_83
    • By Outsider_83 3rd Oct 17, 3:20 PM
    • 163Posts
    • 21Thanks
    Outsider_83
    Regular Saver Expiring
    • #1
    • 3rd Oct 17, 3:20 PM
    Regular Saver Expiring 3rd Oct 17 at 3:20 PM
    Hi All,


    I have a regular saver that is just about the expire. It was being saved at a value of 5% and the total value of the pot is just over 6k, what is the best option for this? I don't really want to drip feed it into another account as most of it will be sitting doing nothing.
Page 1
    • soulsaver
    • By soulsaver 3rd Oct 17, 4:03 PM
    • 1,706 Posts
    • 683 Thanks
    soulsaver
    • #2
    • 3rd Oct 17, 4:03 PM
    • #2
    • 3rd Oct 17, 4:03 PM
    Put it in the best interest earning current account you haven't already got.. (see "top saving acs" above) and open another 5% regular saving ac and feed it from the current.
    • Eco Miser
    • By Eco Miser 3rd Oct 17, 4:51 PM
    • 3,444 Posts
    • 3,234 Thanks
    Eco Miser
    • #3
    • 3rd Oct 17, 4:51 PM
    • #3
    • 3rd Oct 17, 4:51 PM
    See the discussions on this thread and others, about the benefits of drip-feeding into regular savers. The linked thread also has suggestions for where to keep the lump sums until they are 'regular saved' again.
    Eco Miser
    Saving money for well over half a century
    • Outsider_83
    • By Outsider_83 4th Oct 17, 10:17 AM
    • 163 Posts
    • 21 Thanks
    Outsider_83
    • #4
    • 4th Oct 17, 10:17 AM
    • #4
    • 4th Oct 17, 10:17 AM
    Thank you folks, from reading the attached links my plan is as follows, does this make sense?

    1. Open up a Tesco saving's account paying 3% to hold my expired savings in.
    2. Drip feed money into a new regular saver preferably one offering 5% interest.
    • ColdIron
    • By ColdIron 4th Oct 17, 11:15 AM
    • 4,254 Posts
    • 5,382 Thanks
    ColdIron
    • #5
    • 4th Oct 17, 11:15 AM
    • #5
    • 4th Oct 17, 11:15 AM
    Tesco's savings accounts only pay 1.20%. You are probably thinking of the Tesco current accounts that pays 3% on up to 3,000 although you can have 2 of them. You would need to set up 3 Direct Debits and pay in 750 pcm
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

128Posts Today

1,862Users online

Martin's Twitter
  • We all knew we'd win in the end. Never in doubt! ....walks away whistling

  • Yeeesss. Phew. Wow. Uh. Oy yoy yoy

  • It's interesting that 80% of the crowd are young women... According to the close ups we keep seeing anyway.

  • Follow Martin