I would say that if you have the £2400 that would be going to into the santander or nationwide regular savers at 2.5% then sticking it all straight away in that 1.5% chase account will give you more slightly more over the year. £36 vs roughly £32 with the savers (depending if chase don't lower the rate). I would only do them savers if you don't have that money sitting there and you're looking for it to come out your wages every month as a good saving habit like Andy mentioned. The big benefit from chase is that you get the interest monthly, as opposed to the end of the year with regular savers and you can access it whenever you want without having to follow a strict standing order, and if you miss a standing order or have to put a lower amount in, that will impact your final interest amount a lot.
A cheat to pay in more than the £150 maximum (i think this 6% is on the first £5,000 pounds as of 2024) for the natwest digital saver 6% is if you do a round up or double round up offer that will negate the maximum your ment to be able to put in it. Ideal if your already with natwest but if not it's probably not worth doing. Coop is 7% and first direct are as of today doing 7%
I keep checking and if a new one offers as good or better open the new one and make a lower monthly deposit to the old one if it is, say, 6 months or less to go.
Santander are doing a regular account, 5% APR. Someone in work tried to educate me on ETFs and index funds; I’m not intelligent enough to manage those, at the end of the regular saver period, is it designed to withdraw all the money; deposit it in whatever best saver is going at that time, and then keep repeating over and over again? New to all of this, I’ve started making a decent amount of money and I want my savings to be doing a lot more than they arw
Natwest regular saver you mentioned. Would you stop adding to Regular saver once it reaches the 1k mark as the rate after that is 0.30% on balances of £1001-5000
No sadly not. But drip feeding it monthly from a high interest savings account is a good idea. I'm currently doing that with nationwide 8%, first direct 7% and co-op 7%. When they mature I'll stick it all back in the savings account
@@NickIrvineFortescue This is what im about to do, as they're getting rid of being able to negate the £5 fee for the barclays rainy day saver.. :) so just doing the lloyds switch offer for the £175 and then opening the saver account to drip feed some money into it, which bank and what interest rate are you currently drip feeding out of?
@@Holy_logic I'm using Yorkshire building society, which has a 4.8% savings account. It's not the highest but it's pretty close, and it's ethical. The downsides are that you can't set up standing orders, so I do it manually, and it takes a day for the money to transfer. Chase current account gives a better rate (5.1%) but have terrible morals, so I only use them to gain cashback, and purposefully don't hold more than a few pounds in the account.
Great video. I am hoping to switch to RBS tomorrow for the bonus. Should I open the digital regular saver as I already have the Nationwide and Santander regular savers paying 2.5%. Or just use the RBS account for switching to HSBC for the £175.00.
i would find another account to switch into HSBC. i would prioritise that RBS/Natwest digital reg saver over the nationwide and Santander. even though it's a total lower amount going in there (£1000 max at 3.3% vs £2400 max at 2.5%) if you have that kind of money already saved then i would put in in chase at 1.5% and only commit the £150 max a month for 7 months at RBS or Natwest or both. But it's up to you, if you don't have that money saved anyway and you're planning to set aside your wages each month to put into these then probably the those 4 savers are the best options
what's an example of some of these items and what do you do with them? is it just so you don't need to buy them when they are at a higher price or is it to re-sell them?
@@ggnoree6684 I bought tins of soup, veg, and even some of those lovely Fray Bentos pies. The pies were a pound at a pound shop. Now they are getting sold in Tesco for £1.75. I intend to sell none of them.
![АЛАУДИНОВ у Скабеевой: эти их ВСУ нас НЕ ДОГОНЯТ 😁 [Пародия]](http://i.ytimg.com/vi/an0anqU4WGQ/mqdefault.jpg)
I would say that if you have the £2400 that would be going to into the santander or nationwide regular savers at 2.5% then sticking it all straight away in that 1.5% chase account will give you more slightly more over the year. £36 vs roughly £32 with the savers (depending if chase don't lower the rate). I would only do them savers if you don't have that money sitting there and you're looking for it to come out your wages every month as a good saving habit like Andy mentioned. The big benefit from chase is that you get the interest monthly, as opposed to the end of the year with regular savers and you can access it whenever you want without having to follow a strict standing order, and if you miss a standing order or have to put a lower amount in, that will impact your final interest amount a lot.
You can also add roundups to Natwest regular saver, over and above the £150 per month 😊
A cheat to pay in more than the £150 maximum (i think this 6% is on the first £5,000 pounds as of 2024) for the natwest digital saver 6% is if you do a round up or double round up offer that will negate the maximum your ment to be able to put in it. Ideal if your already with natwest but if not it's probably not worth doing. Coop is 7% and first direct are as of today doing 7%
I keep checking and if a new one offers as good or better open the new one and make a lower monthly deposit to the old one if it is, say, 6 months or less to go.
A lot of hard work for a minimal return.
Exactly rather earn 12% on usdc f**k 3%
Right now First Direct are offering regular saver 3.5% £300 a month
Great information as always 👍
Thanks!
Santander are doing a regular account, 5% APR. Someone in work tried to educate me on ETFs and index funds; I’m not intelligent enough to manage those, at the end of the regular saver period, is it designed to withdraw all the money; deposit it in whatever best saver is going at that time, and then keep repeating over and over again?
New to all of this, I’ve started making a decent amount of money and I want my savings to be doing a lot more than they arw
Lloyd's pay 1.25 % in monthly saver
Do you have to pay tax on savings interest?
I miss the HSBC 2.75% regular savers account .good times
I miss the 6% First Direct reg saver!
@@BeCleverWithYourCash hopefully they'll come back 🙏🏾
@@BeCleverWithYourCash I remember the days when banks were paying 8% on their current accounts.
When you open these accumalative accounts it tells you the interest at the start,assuming you save the maximum.
yes i find that pretty handy. each one will do that when you go down to the summary box
Please what's the name of those Banks, couldn't make it out through your pronunciation 😢
Natwest regular saver you mentioned. Would you stop adding to Regular saver once it reaches the 1k mark as the rate after that is 0.30% on balances of £1001-5000
Absolutely amazing
So you can't open the regular savings account with a lump sum of say £20,000 then add cash to it in the following months until maturity?
No sadly not. But drip feeding it monthly from a high interest savings account is a good idea.
I'm currently doing that with nationwide 8%, first direct 7% and co-op 7%.
When they mature I'll stick it all back in the savings account
@@NickIrvineFortescue This is what im about to do, as they're getting rid of being able to negate the £5 fee for the barclays rainy day saver.. :) so just doing the lloyds switch offer for the £175 and then opening the saver account to drip feed some money into it, which bank and what interest rate are you currently drip feeding out of?
@@Holy_logic I'm using Yorkshire building society, which has a 4.8% savings account.
It's not the highest but it's pretty close, and it's ethical.
The downsides are that you can't set up standing orders, so I do it manually, and it takes a day for the money to transfer.
Chase current account gives a better rate (5.1%) but have terrible morals, so I only use them to gain cashback, and purposefully don't hold more than a few pounds in the account.
40 is better then nothing if you save at home you get nothing but you can save at home and use these savers
Andy, may I ask why my comments always disappear from your vids? I can't find one comment that I've made.
I have 40k not earning anything,any suggestions??.
It depends on what kind of suggestions you need. Is either you save for annual interest or you invest it.
@@ceejay5692 Sheperds Friendy Stocks and Shares ISA pays 3%
Give it to me. Init.
Great video. I am hoping to switch to RBS tomorrow for the bonus. Should I open the digital regular saver as I already have the Nationwide and Santander regular savers paying 2.5%. Or just use the RBS account for switching to HSBC for the £175.00.
i would find another account to switch into HSBC. i would prioritise that RBS/Natwest digital reg saver over the nationwide and Santander. even though it's a total lower amount going in there (£1000 max at 3.3% vs £2400 max at 2.5%) if you have that kind of money already saved then i would put in in chase at 1.5% and only commit the £150 max a month for 7 months at RBS or Natwest or both. But it's up to you, if you don't have that money saved anyway and you're planning to set aside your wages each month to put into these then probably the those 4 savers are the best options
First you open the current account, when this is set up in your phone app you can open the regular saver in the phone app.
They are not a good idea. You are better opening a easy access saver and drip-feeding it. You will earn far more.
A lot of the 3% savers are only up to £1000 then the rate fals to 0.3%....what a joke
Yeah, they’re often good for small amounts for a year
08:23
In my view, it isn't worth saving. Inflation is higher than any saving account. Bulk buy nonperishable items, which seem to be increasing each month.
what's an example of some of these items and what do you do with them? is it just so you don't need to buy them when they are at a higher price or is it to re-sell them?
@@ggnoree6684 I bought tins of soup, veg, and even some of those lovely Fray Bentos pies. The pies were a pound at a pound shop. Now they are getting sold in Tesco for £1.75. I intend to sell none of them.
@@anglosaxon361 How about tins of rice pudding from Lidl ?.
I guess you still have ethical issues about Chase along with many other banks?
Yep!
@@BeCleverWithYourCash what ethical issues with chase?
Starling investors from Qatar state wealth and Goldman Sachs according to their about section. Just to be clear.
i lost $66 on nutmeg and now loosing $50 on nexo - anything good will do right now