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Regular Saver or Fixed Rate Saver Wilkco123

Posted: Mon Mar 06, 2017 5:15 am
by liljack11
I've built up a decent Stooze Pot in my 1st year of stoozing, by funding Current Accounts and Regular Savers, However, my Regular Saver is due to mature in the next few months.



The Current Accounts I hold are full, and I'm not sure if opening a Fixed Rate Saver, would offer me a better return than a Regular Saver, as the Regular Savers are deigned to be drip feed over the course of a full year.



Thoughts?

Posted: Mon Mar 06, 2017 10:55 am
by Minecraft_rogue
Banking forum ----->

Posted: Mon Mar 06, 2017 11:20 pm
by liljack11
Ah thanks Pogofish, Apologies

Posted: Tue Mar 07, 2017 8:22 am
by Crakbone550
Regular savers are a bit misleading really. Whilst they do what they say on the tin, if you pay in the full amount every month, whatever the balance is after 12 months, the APR on that would be approximately 50% of the advertised rate.



Dripping money in to get what is really 2-3% on whatever you've saved after 12 months is poor when you can get a current account which will pay that on the lump sum from the outset.

Posted: Tue Mar 07, 2017 11:23 pm
by raimund



Regular savers are a bit misleading really. Whilst they do what they say on the tin, if you pay in the full amount every month, whatever the balance is after 12 months, the APR on that would be approximately 50% of the advertised rate.



Dripping money in to get what is really 2-3% on whatever you've saved after 12 months is poor when you can get a current account which will pay that on the lump sum from the outset.
Originally posted by The Urbanite


This post is a bit misleading!