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First Direct 7% on regular saver
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Jesse M
Posted: 21 December 2022 09:57:21(UTC)
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As the title suggest, those with first direct can now get 7% on savings of max £300 per month over 12 months. Interest is calculated daily.

Caveat is that you cannot just throw in a lump sum.
Still useful for that cash pot earning below par rates.

Might sound stupid but I hold savings for my dog that I drip into each month, it is there to cover any unexpected expenditure (e.g. vet) I do hold pet insurance, however I got into this habit when my last dog (Rottweiler)had elbow dysplasia and the insurance became stupid expensive in his latter years, and I have continued this separate cash drip feed with my current dog (Alapaha Blue Blood).

So it seems like a good home for this pot of cash.
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MatthewS on 21/12/2022(UTC), lindsay Morrison2 on 23/12/2022(UTC)
someyouwinsomeyoulose
Posted: 21 December 2022 10:05:55(UTC)
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Dog fund makes perfect sense to me. Pet insurance tends to be very expensive and expect you to come up with lumps sums that they may or may not reimburse you for.

Also i find first direct one of the better banks for customer service overall
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Jesse M on 21/12/2022(UTC)
Robert D
Posted: 21 December 2022 10:48:51(UTC)
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Jesse M;251224 wrote:
As the title suggest, those with first direct can now get 7% on savings of max £300 per month over 12 months. Interest is calculated daily.

Caveat is that you cannot just throw in a lump sum.
Still useful for that cash pot earning below par rates.

Might sound stupid but I hold savings for my dog that I drip into each month, it is there to cover any unexpected expenditure (e.g. vet) I do hold pet insurance, however I got into this habit when my last dog (Rottweiler)had elbow dysplasia and the insurance became stupid expensive in his latter years, and I have continued this separate cash drip feed with my current dog (Alapaha Blue Blood).

So it seems like a good home for this pot of cash.


I hope you consulted Fido before you did this

He might prefer you spend the money on doggie treats

FD account sounds good and will ring them today but a dog savings account sounds barking mad to me
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Jesse M on 21/12/2022(UTC), Tim D on 21/12/2022(UTC)
bédé
Posted: 23 December 2022 07:27:09(UTC)
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What does he answer to? Alapaha doesn't roll off my tongue easlily. (Don't answer, it might reveal too much.)
I looked up Alapaha, thiking it might be a breeder's name. Now I know. Rare breeds can run up rare bills.


PS. If you already have the cash, you are effectively getting 3.5%.
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Jesse M on 23/12/2022(UTC), Thrugelmir on 24/12/2022(UTC)
Jesse M
Posted: 23 December 2022 08:00:15(UTC)
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Yes a rare breed, but that also means less generations of inbreeding compared to many popular breeds and those associated health problems, so quite a hardy breed.

a very solid dog I've owned a German shepherd, Boxer and Rottweiler in the past - this one is the strongest of the lot, pure solid muscle.

Well mine is anyway, fed raw meat like most of his brethren which isn't cheap.

Lovely friendly dog around children.
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Derek Staples
Posted: 29 December 2022 17:51:57(UTC)
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Joined: 17/08/2020(UTC)
Posts: 13
Do the maths - You can only save on a monthly basis. In their own example, although the headline is 7%,
£300 pcm/12 months earns you £136.5

£136.5/£3600 = 3.79%.

You can beat that anywhere now.

From the FD website:

"Interest example: if you save £300 every month for 12 months and qualify for the 7.00% AER/Gross p.a. interest rate, you'll earn approximately £136.50 interest (gross). Interest is calculated daily and paid 12 months after you opened the account."
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John Bran
Posted: 30 December 2022 21:41:24(UTC)
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Derek Staples;251921 wrote:
Do the maths - You can only save on a monthly basis. In their own example, although the headline is 7%,
£300 pcm/12 months earns you £136.5

£136.5/£3600 = 3.79%.

You can beat that anywhere now.

From the FD website:

"Interest example: if you save £300 every month for 12 months and qualify for the 7.00% AER/Gross p.a. interest rate, you'll earn approximately £136.50 interest (gross). Interest is calculated daily and paid 12 months after you opened the account."


There is aways one?
If you borrow a £1,000 at 5% interest and pay it back monthly you will pay back £1,025. Would you consider that to be 2.5%? No you would call that 5% interest.
Why do people like you, when you are the lender count it as 2.5% interest but when your borrower count it as 5% interest?
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Tyrion Lannister on 01/01/2023(UTC), OmegaMale on 01/01/2023(UTC)
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