The latest top paying regular savers becleverwithyourcash.com/the-best-regular-savings-accounts/?Organic_UA-cam&Banking_savings&September24_link_in_YT_description
I've been getting into these this last year. They're the best interest so it seems to make sense. Currently trying the drip feed metgid with: Virgin 10% £250 Nationwide 8% £200 (just matured. I made £115) Principality BS 8% £200 Yorkshire BS 8% £50 First direct 7% £300 Co-op 7% £250
I've started buying one year bonds once a month. I get the full amount of interest for the whole year. As each bond matures I will either use it to buy more bonds or move it elsewhere depending on the interest rates at the time.
@@richardgatenby7560 just a general question as I’ve not looked too much into them. What sort of interest rates are you currently getting? And what service do you use to invest in them?
I’m not sure if it’s worth mentioning but another way of potentially boosting earnings from a regular saver is to open at the very end of the month. This then means you can put another amount in at the very start of the next month and in turn have more money in there earning interest so by the time it matures you end up getting a larger amount of interest.
Yes I noticed this by mistake when I got to my final month of the year and realised I could put in a 13th month as I had opened it near the end of a month.
@@MDRashid0509 I think so, yes. In October 2023 you put money in on the 10th. Your account will run for 1 year, so until 10.10.24 Therefore I think you can make a final 13th deposit on 01.10.24 Bear in mind though it will only be earning interest for 10 days, so you'll only earn pennies on it
@@MDRashid0509 Yes you can. For example, open on the 30th and put in whatever, then wait until the first day of the next month and you can put in more. You can essentially get 13 months worth.
@@sandra-bb5xq I believe with most savings accounts you are unable to make standing orders. One thing I would recommend is setting up a current account to put your payslip into and then set up standing orders from there to filter your money across. I personally have a chase savings account and although the interest rate is lower I am able to make standing orders from it.
@@sandra-bb5xq same for me. I think it's because savings account are different to current accounts. Different features/purposes. I manually transfer mine on the 1st of the month. A normal bank transfer using the app
I have one question I was checking hsbc they have regular savers of 7% and if u put 250 every month u get £3117 but if u go with trading 212 with 5. 1% u get £3150 in a year... I am so confused
With trading212 the £3000 is getting 5% for the full year, so £150 interest. With the regular saver, only the first £250 get 12 month's interest, the second £250 gets 11months etc. As a rough guide I expect to get a little more than half what I'd get if it was invested for 12 months (because each £250 earns 6.5 months interest on average)
The longest regular saver I’ve seen is 2 years. However you can get normal fixed savings accounts for up to five years I believe. If you check out MSE mentioned earlier in the video they also have a page with the best longer term fixed savers
The latest top paying regular savers becleverwithyourcash.com/the-best-regular-savings-accounts/?Organic_UA-cam&Banking_savings&September24_link_in_YT_description
My 8% nationwide account has just matured and I've started a new first direct 7% account
Same I have right now!!! My NW 8% comes to sn end in December but I opened 1stD in July
I grabbed that Virgin Money 10% Regular Saver while it was still on offer, also have the First Direct RS, which'll be maturing soon
I've been getting into these this last year. They're the best interest so it seems to make sense.
Currently trying the drip feed metgid with:
Virgin 10% £250
Nationwide 8% £200 (just matured. I made £115)
Principality BS 8% £200
Yorkshire BS 8% £50
First direct 7% £300
Co-op 7% £250
I've started buying one year bonds once a month. I get the full amount of interest for the whole year. As each bond matures I will either use it to buy more bonds or move it elsewhere depending on the interest rates at the time.
@@richardgatenby7560 just a general question as I’ve not looked too much into them. What sort of interest rates are you currently getting? And what service do you use to invest in them?
I’m not sure if it’s worth mentioning but another way of potentially boosting earnings from a regular saver is to open at the very end of the month. This then means you can put another amount in at the very start of the next month and in turn have more money in there earning interest so by the time it matures you end up getting a larger amount of interest.
Yes I noticed this by mistake when I got to my final month of the year and realised I could put in a 13th month as I had opened it near the end of a month.
So I opened my nationwide regular saver and my Skipton regular saver on the 10th October 2023, does that mean I can put another amount next month???
@@MDRashid0509 I think so, yes.
In October 2023 you put money in on the 10th.
Your account will run for 1 year, so until 10.10.24
Therefore I think you can make a final 13th deposit on 01.10.24
Bear in mind though it will only be earning interest for 10 days, so you'll only earn pennies on it
@@MDRashid0509 as soon as it is the 1st of any month the monthly cap resets. So effectively yes you can put another amount in next month.
@@MDRashid0509 Yes you can. For example, open on the 30th and put in whatever, then wait until the first day of the next month and you can put in more. You can essentially get 13 months worth.
Just had a regular saver with Nationwide mature. Painless way of saving.
Same. Was it the 8% one?
I made £115 for very little (no) work
I just started another HSBC 7% .
I never thought about starting dates..
when looking for another ,whats the best time in the month to open one.?
My bank won’t let me make a standing order from a savings account so how can I drip feed to a regular saver ?
@@sandra-bb5xq I believe with most savings accounts you are unable to make standing orders. One thing I would recommend is setting up a current account to put your payslip into and then set up standing orders from there to filter your money across. I personally have a chase savings account and although the interest rate is lower I am able to make standing orders from it.
@@sandra-bb5xq same for me. I think it's because savings account are different to current accounts. Different features/purposes.
I manually transfer mine on the 1st of the month. A normal bank transfer using the app
I have one question I was checking hsbc they have regular savers of 7% and if u put 250 every month u get £3117 but if u go with trading 212 with 5. 1% u get £3150 in a year... I am so confused
If you search up ‘MSE regular savings calculator’ it explains it a little on there under a term called ‘drip feeding’. I hope this helps
With trading212 the £3000 is getting 5% for the full year, so £150 interest. With the regular saver, only the first £250 get 12 month's interest, the second £250 gets 11months etc. As a rough guide I expect to get a little more than half what I'd get if it was invested for 12 months (because each £250 earns 6.5 months interest on average)
You never talk about junior ISA much, like telling us who to go with for best interest rates etc.
Are you aware of any savers that you can have for a longer term. Say 3 or 5 years? More even?
The Santander one is 1 year, but it automatically renews. I think HSBC is the most painful one to renew, requiring a phone call
The longest regular saver I’ve seen is 2 years. However you can get normal fixed savings accounts for up to five years I believe. If you check out MSE mentioned earlier in the video they also have a page with the best longer term fixed savers
Natwest. 6%. £150 max per month no lower limit. Interest paid monthly. Max total £5,000 for the 6%. 1% above that.
@@mittensandsnowdropalso you can withdraw at anytime. Would prefer it being £200.
Then get hit by the taxman.