Nationwide UK Ireland launched Regular Saver account today... 4% APR.

R

rob oyle

Registered User
Messages
713
Just walked past the Nationwide UK Ireland branch on Merrion Row in Dublin, new ad in the window advertising a 15 month term regular saver account at 5.04% for the term (4% AER). Would be a leader in the regular saver market but there are a number of terms and conditions, such as access to funds...
 
Thanks rob.
I think they have put their Loyalty 12 month interest rate down already. And this regular saver is at a variable rate, so may not be 4% for long.
 
Saw that earlier, very interesting.

4% is a great rate. Good to see a higher best buy rate for a change.

Now to spend the next while reading the T&C's in full.
 
If the rate is variable then I'd say we'll be returning to this thread in about 6 months commenting about how the rate has been reduced.

4% to get people signed up....then cut the rate.
 
PolkaDot said:
If the rate is variable then I'd say we'll be returning to this thread in about 6 months commenting about how the rate has been reduced.

4% to get people signed up....then cut the rate.
Click to expand...

"[broken link removed]"

I'd say make the most of it while we can
 
PolkaDot said:
If the rate is variable then I'd say we'll be returning to this thread in about 6 months commenting about how the rate has been reduced.

4% to get people signed up....then cut the rate.
Click to expand...

Then return here in 6 months and look at what the best rate is then. Most regular saver rates are variable, nothing new here.
 
The 4% rate seems to have gone down well. There was a big queue in the NUK branch today and they were encouraging everyone to apply online.

advice pls said:
Does the fact that there is a minimum term offer any protection?
Click to expand...

Protection against what?

username123 said:
Then return here in 6 months and look at what the best rate is then.
Click to expand...

You need to continue to use this regular saver account for 1 year 3 months. However, you can withdraw all funds during the term but you need to continue to deposit at the least the minimum per month.
 
Sorry from them dropping the rate to say 0.1% if they so fancy and you are then required to keep the account for the one year and three months with only two penalty free withdrawals.
 
advice pls said:
Sorry from them dropping the rate to say 0.1% if they so fancy and you are then required to keep the account for the one year and three months with only two penalty free withdrawals.
Click to expand...

Yeah but you can take out all your accumulated lump sum and drop to the minimum monthly contribution amount if NUK reduce the rate.
 
Still 4% AER

[broken link removed]

It'd be great if they brought out a credit card with rewards
 
Yeah, still 4%. Promotional regular saver rates can be run by banks for long periods because the regular saver deposit base is small relative to the size of their entire deposit base. Having said that, 4% won't last forever.

As for NUK branching into other product lines, there is no immediate indication that it will take place. There is perhaps a small outsider chance that NUK will express interest in the PTSB good bank.
 
Is it necessary to open a current account in order to get the money out of this account like it is with KBC?

Is this still a good choice considering how long it has been going? Is it likely to drop soon? I have 10K in the PTSB Online Reg Saver, would it better to start moving that out into this acc?
 
Trim said:
Is it necessary to open a current account in order to get the money out of this account like it is with KBC?
Click to expand...

Huh? NUK don't offer current accounts. KBC do not have an obligation to have a current account with them in order to get money out of their regular saver product.

Trim said:
Is this still a good choice considering how long it has been going? Is it likely to drop soon? I have 10K in the PTSB Online Reg Saver, would it better to start moving that out into this acc?
Click to expand...

The rate will drop, when is anyones guess. There is not harm shifting money between regular saver accounts, in the sense it can always be shifted back.
 
Thanks CiaranT, so I can just transfer money back out from the NUK reg saving acc into my PTSB current account?

With regards to KBC, I went into them a couple months ago, and they said that in order to get my money out of the reg saving account that I would need to set up a current account with them. Due to the charges and the relatively small amount I would be putting in I decided against it.
 
You must log in or register to reply here.
Back
Top