Regular Savings Accounts: The Best Currently Available List!

Milarky · 14 March 2011 at 7:01PM

https://www.emoneyfacts.co.uk/news/news-search.aspx?newsarticleid=203581

Special_Saver2 · 20 March 2011 at 1:04PM

Hi Everybody,

Here is this weekend's update.

- Chorley Santa Saver and Summertime Savers removed (actually, I did this earlier in the week after being notified of Milarky's post above)

- Links for Nottingham BS accounts updated (including Fixed Rate Regular Saver which now appears on their website)

- Santander eSaver Issue 3 added to the feeder account section (easy access account that pays 3% and can make forward-dated transfers to non-Santander accounts if you access it via Santander online banking and select the "Payments" option; if you use Alliance & Leicester online banking then you will need to request Santander online banking to do this)

- Interest rates on the best easy access savings accounts have been increasing; the third best easy access savings account on Martin's Top Savings Accounts page is paying 3% so I am now only listing regular savings accounts paying more than 3%

I will also mention that the interest rate on the Buckinghamshire BS Chiltern Gold Nuggets regular savings ISA account has been increased to 3.5% on £500+. I do not cover regular savings ISA accounts on this thread as they are covered in Kazza242's excellent Mini Cash ISAs thread. I will post a message on that thread.

I will do another update next weekend.

SS2

Milarky · 23 March 2011 at 10:54PM

https://www.emoneyfacts.co.uk/news/news-search.aspx?newsarticleid=203849

REGULAR SAVER ISA launched w.e.f. 22.3.11 to commence in the new tax year 2011/2012: an instant access regular savings cash ISA paying 4.00% yearly. Minimum monthly payment of £100 and a maximum monthly payment of £445. Loss of 3.50% bonus if 11 payments not made, more than 1 withdrawal or account closed during account year. Loss of 3.50% bonus if more than 1 payment made in any month. Transfers in not accepted. Transfers out on loss of 3.50% bonus.

Works like a 'regular' regular saver except for the ISA part.

4% is a respectable return (and 5% equivalent to BR taxpayers) -albeit not fixed. Maximum monthly amount is respectable also. In anticipation of those questions, the maximum interest works out at about £119*

Opening the account may be a bit off-putting with the ISA paperwork to shuffle.

*£445 saved monthly, 1st on 6 April 2011[see other dates here]

Special_Saver2 · 26 March 2011 at 12:01PM

Hi Folks,

Here is this weekend's update.

- Teachers BS Regular Saver issue 2 paying 4% withdrawn and replaced with issue 3 paying 3.75% for 12 months, terms and conditions unchanged

- Cambridge BS Regular Savings account (Issue 2) name changed to Regular Savings Bond (Issue 2) but apart from the name and website link changing, I cannot find any other differences - the account is still a 12 month variable rate account paying 3.05%

I will do another update next weekend.

SS2

Red_Ant · 30 March 2011 at 10:43AM

Milarky wrote: »

That's not correct. The 4% includes a 1% bonus on the amounts deposited between anniversaries. That translates as 3% [i.e. no bonus] on the year end balance and 4% only on what you add before the next anniversary. If you are happy to be getting 3% then leave it there but to continue receiving '4%' you should draw down the balance by the year end amount - using your one allowed 'free' withdrawal. Also you can't change the regularly saved amount 'mid year' - only at the anniversary time.

See their rates leaflet for product details (I see that LBS has changed its website - which used to be navigable and now isn't - why do they 'fix' something that isn't 'broken'?)

Actually I believe the 4% on the full balance to be correct - I was aware of the T's and C's that you state, and so contacted Loughborough to withdraw my "old funds" only to be told they would be paying the full rate on the full balance as their systems couldn't distinguish between the old and new funds - hence why the OP was told the same as I had been.

arsenalboy · 1 April 2011 at 9:53AM

I checked this out with Loughborough some time ago and they confirmed the rate would drop to 3% on the previous years deposits. To my mind if another advisor is saying the opposite it shows that they are confused as the people on this forum.
I am not confused, I withdrew, thats what the terms and conditions state.
I would advise anybody who wants to leave the money in thinking they will get 4% on the full balance to get it confirmed in writing, an email exchange normally surfices.
If they decide to only pay 3% when you do withdraw, referring to a telephone call will get you nowhere, they will refer you to the terms and conditions.

tiptoe_mouse · 2 April 2011 at 5:02PM

Update for the feeder accounts section: Egg Savings Account now only pays 0.60% (for new accounts opened from 01/04/2011).

tiptoe

Special_Saver2 · 2 April 2011 at 6:51PM

Hi Everybody,

Here is this weekend's update.

I have removed the Egg Savings Account from the feeder section. I cannot find anything else that has changed.

I will do another update next weekend.

SS2

Special_Saver2 · 2 April 2011 at 7:13PM

I have just read on this thread (including this link) that the Lloyds Vantage account is going to lose the 4% interest rate tier from 27th June. It is also confirmed on the Lloyds TSB website.

I have just annotated my entry in the feeder account section on the first page of this thread to reflect this.

SS2

Nessie23 · 9 April 2011 at 2:57PM

Hi Special_Saver2,

It might be worth including The Tesco (easy access) Internet Saver to the feeder account section. Interest rate is 2.9% (this includes a 1.65% bonus during the first year).
Min balance £1 and supports faster payments in and out of the account. It is possible to schedule payments out of the account for a future date.
http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/index.jsp

Thanks,
Nessie

Regular Savings Accounts: The Best Currently Available List!

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free