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

    • Grumpy_Old_Duffer
    • By Grumpy_Old_Duffer 12th Jan 18, 5:14 PM
    • 659Posts
    • 156Thanks
    Monthly Savings v Lump Savings
    • #1
    • 12th Jan 18, 5:14 PM
    Monthly Savings v Lump Savings 12th Jan 18 at 5:14 PM
    Lloyds Bank are offering 2.50% ("Your interest is paid annually on the anniversary of the account opening") for monthly savings of £25 - £250.
    What would the yearly interest on this account equate too compared to if I left the money in the Santander Account currently offering 1.5% ("1.50% AER/1.49% gross on balances up to £20,000")?

    Assume the full £250/month.
    It has taken about 4,500,000,000 (4.5 billion) years for the Earth to form as it is now .........
    and it'll only take about another 100 years for mankind to really **** it up!!!!
Page 1
    • verybigchris
    • By verybigchris 12th Jan 18, 5:21 PM
    • 417 Posts
    • 556 Thanks
    • #2
    • 12th Jan 18, 5:21 PM
    • #2
    • 12th Jan 18, 5:21 PM
    Drip feed £250 per month into the Lloyds reg saver and you'll get about £40.63 gross interest.

    Leave £3k in Santander for a year and you'll get about £45 interest.

    Combine the two (i.e. put the lump sum in Santander, and every month move £250 over to Lloyds) and you'll get about £61.25 interest in total.
    • ColdIron
    • By ColdIron 12th Jan 18, 5:33 PM
    • 4,256 Posts
    • 5,385 Thanks
    • #3
    • 12th Jan 18, 5:33 PM
    • #3
    • 12th Jan 18, 5:33 PM
    Have a play with the MSE Regular Savings calculator
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

2,846Posts Today

8,079Users online

Martin's Twitter
  • Nearly at the Cheshire Show. Doing an @itvMLshow there today and tomorrow. Do say hi if you're there or ask a question.

  • Good morning. I'm on the train to go to the Cheshire Show today to film for an @itvmlshow Roadshow. Looking forwa?

  • Early days, but so far a huge majority - 19 in 20 people - support legalising cannabis for medical use. Whereas t?

  • Follow Martin