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



## rob oyle (2 Jul 2013)

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...


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## rob oyle (2 Jul 2013)

More here: [broken link removed]


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## Gervan (2 Jul 2013)

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.


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## Lightning (2 Jul 2013)

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.


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## PolkaDot (3 Jul 2013)

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.


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## skrooge (3 Jul 2013)

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.


 
"[broken link removed]"

I'd say make the most of it while we can


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## Boyd (3 Jul 2013)

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.



Then return here in 6 months and look at what the best rate is then. Most regular saver rates are variable, nothing new here.


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## advice pls (3 Jul 2013)

Does the fact that there is a minimum term offer any protection?


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## Lightning (3 Jul 2013)

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?



Protection against what? 



username123 said:


> Then return here in 6 months and look at what the best rate is then.



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.


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## advice pls (3 Jul 2013)

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.


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## Lightning (3 Jul 2013)

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.



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


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## advice pls (3 Jul 2013)

Thanks.


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## TheJackal (8 Mar 2014)

Still 4% AER

 [broken link removed]

 It'd be great if they brought out a credit card with rewards


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## Lightning (9 Mar 2014)

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.


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## cork (13 Mar 2014)

What is the max of the monthly savings?


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## seantheman (13 Mar 2014)

cork said:


> What is the max of the monthly savings?


Open TheJackal's link 2 posts above yours, gives all the details


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## Lightning (13 Mar 2014)

cork said:


> What is the max of the monthly savings?



1,000 EUR per monthly cycle, not per calendar month. See details here.


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## Trim (4 Apr 2014)

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?


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## Lightning (5 Apr 2014)

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?



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?



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.


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## Trim (5 Apr 2014)

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.


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## Lightning (5 Apr 2014)

Trim said:


> Thanks CiaranT, so I can just transfer money back out from the NUK reg saving acc into my PTSB current account?



Yes.



Trim said:


> 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.



Not correct. You were misinformed. To do an electronic withdrawal you need a KBC current account. However, you can do a manual in branch withdrawal without having a current account with KBC.


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## Trim (5 Apr 2014)

Thanks CiaranT for clearing that up. I really appreciate it and all the advice in the other threads.


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## Fella (18 Apr 2014)

Sorry for stupid question I swear I goggled and can't find answer. If I transfer 1000 a month for 15 months does that mean I will get 15000" 0.04= 600 interest then you pay dirt on that? Thanks in advance . I only normally deposit lump sums and that sb how interest is calculated not sure how it's done monthly.


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## rob oyle (18 Apr 2014)

Fella said:


> Sorry for stupid question I swear I goggled and can't find answer. If I transfer 1000 a month for 15 months does that mean I will get 15000" 0.04= 600 interest then you pay dirt on that? Thanks in advance . I only normally deposit lump sums and that sb how interest is calculated not sure how it's done monthly.



Well over the 15 months you have the average of nil (day one) and 15,000 (month 15) in your account so the interest is half what your calc above, more or less.


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## Fella (18 Apr 2014)

rob oyle said:


> Well over the 15 months you have the average of nil (day one) and 15,000 (month 15) in your account so the interest is half what your calc above, more or less.



Cheers mate , so basically 300 quid then lose 41% to dirt sobyour left with 180 quid interest kinda sucks , dirt tax is a joke at that level hardly worth moving money about. This country screw you whatever way they can.


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