Regular Savings Accounts: The Best Currently Available List!

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  • colsten
    colsten Posts: 17,597 Forumite
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    ctdctd wrote: »
    I have a high risk, high return strategy - mine goes into my RCI 1.3% instant access Freedom account until the next decent RS comes along. :tongue:
    You mean high, high risk strategy? As RCI doesn't come with FSCS protection. Before you say it, I know all about the French equivalent it comes with, and I wish you the best of luck if you ever need to use it.
  • Mee
    Mee Posts: 1,441 Forumite
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    edited 12 October 2017 at 9:26AM
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    HI All,

    Just wish to mention that some instant savers like those from Tesco and Ford Money have been increasing slowly over the last few months. Tesco's Internet Saver is now 1.20% (w bonus) and Ford Money (flagged above) has increased slowly from 1% to 1.17%. (no bonus)
    Free thinker.:cool:
  • Wheres_My_Cashback
    Wheres_My_Cashback Posts: 4,294 Forumite
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    colsten wrote: »
    Mine goes into my 1.25% Ulster e-saver which works like greased lightning.

    Ditto, until something better comes up.
  • patientperson
    patientperson Posts: 481 Forumite
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    Only for existing members and a selective range of residential post codes.

    http://www.monbs.com/first-home-bonus-saver-summary/

    Good Rate .. 4.5% including 4% bonus - Max £500 per month (£1000 pm for a joint application) BUT do not get too excited just yet.

    The bonus only becomes payable if the savers take out a mortgage with the Monmouthshire BS.

    Still for some it can be a great help for some.
  • EachPenny
    EachPenny Posts: 12,239 Forumite
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    Mee wrote: »
    Just wish to mention that some instant savers like those from Tesco and Ford Money have been increasingly slowly over the last few months. Tesco's Internet Saver is now 1.20% (w bonus)and Ford Money (flagged above) has increased slowly from 1% to 1.17%. (no bonus)

    Which means they are knocking on the door of the 123 account effective rate (cashbacks excluded).

    Personally I'm favouring Tesco as it is truly instant access - ideal for feeding those greedy RS accounts - whereas Ford has a 24 hour delay, so requires a bit more planning.
    "In the future, everyone will be rich for 15 minutes"
  • Speculator
    Speculator Posts: 2,225 Forumite
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    edited 11 October 2017 at 4:54PM
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    EachPenny wrote: »
    Which means they are knocking on the door of the 123 account effective rate (cashbacks excluded).

    Personally I'm favouring Tesco as it is truly instant access - ideal for feeding those greedy RS accounts - whereas Ford has a 24 hour delay, so requires a bit more planning.

    I am pretty sure If you deposit via FP just after midnight, it gets credited same day and show in your account by 11am.

    My S/Os to my Ford Regular Saver and Regular ISA gets credited/shows up same day.
  • Neil_Jones
    Neil_Jones Posts: 8,913 Forumite
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    What is/was the effective rate of the 123 account after its fee? Something like 1.2% IIRC?

    Not sure actually how long the 123 account is worth holding onto, its looking increasingly better to Lite it and shift the excess out, surely?
  • Speculator
    Speculator Posts: 2,225 Forumite
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    edited 11 October 2017 at 5:09PM
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    Neil_Jones wrote: »
    What is/was the effective rate of the 123 account after its fee? Something like 1.2% IIRC?

    Not sure actually how long the 123 account is worth holding onto, its looking increasingly better to Lite it and shift the excess out, surely?

    The 123 is useful for depositing matured regular saver cheques over £5k that don't allow you to withdraw the balance via BACS.

    My £5 monthly fee is offset via utility cashback.
  • karlie88
    karlie88 Posts: 9,114 Forumite
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    Neil_Jones wrote: »
    What is/was the effective rate of the 123 account after its fee? Something like 1.2% IIRC?

    Not sure actually how long the 123 account is worth holding onto, its looking increasingly better to Lite it and shift the excess out, surely?

    Depends on how much cashback you earn. It does work out to be around 1.2% (assuming max balance with no cashback from DDs).

    I lited mine and have shifted funds across to various RSs paying 2% or more.

    I'd like to personally thank Richard Branson for helping with this process over the past year...

    Don't forget Santander's 5% reg saver.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • EachPenny
    EachPenny Posts: 12,239 Forumite
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    Speculator wrote: »
    I am pretty sure If you deposit via FP just after midnight, it gets credited same day and show in your account by 11am.

    It is the withdrawal process which lets it down. The request has to be made before 2pm for payment by CoB the next working day. As a holding account to feed RS accounts you need to think ahead, especially if the RS deposits are spread over different days (e.g. Santander, HSBC)
    Neil_Jones wrote: »
    Not sure actually how long the 123 account is worth holding onto, its looking increasingly better to Lite it and shift the excess out, surely?

    It is getting close to that point for me, the main advantage as Speculator mentions is when it comes to cheques (outgoing as well as received).
    "In the future, everyone will be rich for 15 minutes"
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