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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,088Posts
    • 3,670Thanks
    Special_Saver2
    Regular Savings Accounts: The Best Currently Available List!
    • #1
    • 27th Nov 07, 10:33 PM
    Regular Savings Accounts: The Best Currently Available List! 27th Nov 07 at 10:33 PM
    1. Introduction

    Welcome to this thread. I continually edit the first few posts of this thread to keep it up-to-date. This thread is meant to complement Martin Lewis' article which you can read here: Regular Savings Accounts and the accompanying discussion thread Regularly Beat the Best Savings Account Rates Discussion Area

    I am happy for people to use this thread to discuss the regular savings accounts on this list. If people want to discuss one of the feeder accounts or a maturing account that is no longer on this list, I am happy for people to post something on this thread (as it may be of interest to some of the people who follow this thread), although I would prefer they start a new thread and then post a message on this thread with a link to the new thread.

    I am only including accounts where the interest rate is 2.5% or better, or 1.5% if there are particularly favourable terms and conditions (e.g. fixed rate, no maturity date, allow payment of £500 or more per month, or have unlimited withdrawals without penalty).

    I have not included regular saver ISA accounts which you can find in Kazza242's thread here: Mini Cash ISAs: The Best ISAs Currently Available List

    I have included children's regular savers but I would strongly recommend that you read the section about the tax implications
    for interest from children's accounts in Martin's article Best Child Savings.

    If you are not sure whether the best place for your money is in a regular savings account or another type of savings account then look at Martin's article How to Start Saving. If you want to see a worked example of how to use these accounts to save the maximum possible, see the thread What is the Highest Interest Rate You Can Get?

    If you have information about a new regular saver account then please feel free to post a message on this thread or you can write a separate thread and then post a link here. Please try and limit discussion on this thread to regular savings accounts.

    If you want to bookmark a link that allows you to jump straight to the end of this thread then use this: http://forums.moneysavingexpert.com/...8697&page=9999

    If you want to receive automatic alerts when new posts are added to this thread then use the following instructions. Login, go to the top of any page in this thread, click "Thread tools" then click on "Subscribe to this thread" and then select whether you want to be notified as soon as there is a new post (you will receive an e-mail telling you to go to the website for more details) or select daily or weekly updates (you will receive an e-mail daily / weekly with a handy summary of all the new posts).

    You may also be interested in the following threads:
    How can regular savings accounts offer such good interest rates?
    Are Regular Savers still worth it? (Calculations and discussion regarding drip feeding lump sums into regular savings accounts)
    Is there a best time of the month to deposit in Regular Savers?
    Transfers from Barclays to regular savings accounts
    Interest on BACS credits
    Direct Debit Payments
    A-Z of bank/building society sort codes/account nos
    Account opening date and 13th payments

    Websites with useful information include:
    Moneyfacts.co.uk News Page
    Moneyfacts.co.uk Regular Savings Accounts Page
    Moneyfacts.co.uk Children's Savings Accounts Page
    Moneysupermarket.com Regular Savings Accounts Page

    (you need to choose the right hand option on that page to view all regular savings accounts)
    Savings Champion Regular Savings Account Page

    Thanks to Money Savers
    adindas, Afahmaep, alanq, aleph_0, AlwaysLearnin, apt, Archi Bald, Ashen, Baldur, blindman, Bluebirdnick, bob792, bristolleedsfan, Careful_ly, Chadsman, Chaykin, chookie1, chris1, colsten, Cosworth806, ctdctd, Dagobert, DeepSporran, dougz, Ed-1, edda, F4, Fella, Froglet, Frogletina, glider3560, gt94sss2, happy with my lot!!, HardCoreProgrammer, IanIan, IanManc, info addict, InMyDreams, innovate, interest Ted, jdavtz, jimbow25, Jo Blogs, johnmoney05, karlie88, Kazza242, Ken68, KTF, lightbulb2760, LongTermLurker, lr1277, lucky77, mary, midzone, MarkFromMullion, MARTYM8', Milarky, moi, moneylover, Money_Man_Steve, MoneySaverLog, motoko, Mr Pumpendumpen, MRMX9, mrssjs, Nessie23, Newly retired, Nick_C, nicko33, notalk, numbers123, Old Slaphead, opinions4u, oxenryd, parker1982, patientperson, penguine, premierfella, psychic teabag, quinlanmd, RayWolfe, red ant, redcar, Rich2808, SalsaDanca, secret wookie, schiff, shokadelika, Snowman, Speculator, steveteach, steve65e, veryintrigued, ViksB, vinylmusic, Vortigern, weeallen, Westie983, worried3, Willing2Learn, and YorkshireBoy for their contributions (useful posts either directly on this thread or on another thread that I have then incorporated here).

    I have divided up the information here into several different sections. You can therefore easily skip any sections that you are not interested in.

    Unless indicated otherwise, you can only open one of each account.


    I have included a summary of the terms and conditions of each account as these can be complicated with regular savings accounts. I would advise you to look at these terms and conditions to check that the account is suitable for you.

    2. No Time Limit / Account Maturity Date

    The advantage of these accounts is that you can build up a large balance which all earns a high rate of interest. You also avoid the hassle of continually opening and closing accounts and setting up new standing orders for each new account. The terms and conditions are also generally good - they generally allow you to make a penalty-free withdrawal and miss a payment each year. The disadvantage of these accounts is that there is no guarantee that the rate will remain high and often these accounts have a balance limit. If the interest rate drops after 12 months then I include the account in post 4 instead.

    3. Matures After More Than 12 Months

    The interest rate drops significantly after the date specified.

    4. Matures After 12 Months

    These accounts usually offer higher interest rates and they often offer interest rates that are fixed for the full 12 months. The main disadvantage with these accounts is that after 12 months the interest rate usually drops significantly. The terms and conditions can also be quite restrictive, so read them carefully.

    5. Matures After 12 Months, Requires Another Account

    These accounts are similar to the above accounts but they require you to open another account (usually a current account, which often has a funding requirement). They are more hassle than the accounts in section 4 but usually have a higher interest rate in return.

    6. Matures After 12 Months, Requires Another Product (Insurance or Investment)

    These accounts usually also offer a short term, high interest rate but they require you to make a long term investment or take out an insurance product.

    7. Matures After Less Than 12 Months

    These accounts are usually Christmas Saver accounts designed to encourage saving in time for Christmas.

    8. Homebuyer Accounts

    Okay, these accounts will not be of much use to you unless you are going to buy a house but they may be of use to some of you out there.

    9. Best Feeder Accounts

    These are accounts where you can leave a large lump sum and drip feed the money into your regular savers each month. Certain accounts are not listed here as they cannot transfer money directly to regular savings accounts. The accounts listed can do BACS transfers to regular savings accounts directly. Alternatively, if you have an offset mortgage, you might be able to use that as a feeder account but it is only worth doing so if the interest paid (after tax) on the regular saver account is higher than the interest rate on your mortgage account.
    Last edited by Special_Saver2; 05-11-2017 at 7:54 PM.
Page 336
    • bigadaj
    • By bigadaj 15th Nov 17, 6:16 AM
    • 10,673 Posts
    • 6,974 Thanks
    bigadaj
    You need to check your calendar.
    14.12.17 is a Thursday.
    Originally posted by Kernel Sanders
    I think the suggestion is that it'll be another year before a minor rate rise, rather than whether the exact date is correct fro the day if the week.
    • Mee
    • By Mee 15th Nov 17, 2:21 PM
    • 1,019 Posts
    • 993 Thanks
    Mee
    Hi guys, didn't see it posted so thought I'd share.

    Bank of Scotland and Halifax regular savers going from 2.0% to 2.5% on December 1st. Club Lloyds going back to 3% where it was in October.
    Originally posted by FriendlyFoe
    About to do a forward roll until I spotted it's new accounts from 1/12/2017

    In addition, new Monthly Saver and Club Monthly Saver accounts opened from 1st December onwards will receive a 0.5% increase to the current available rate.
    • Speculator
    • By Speculator 16th Nov 17, 4:55 PM
    • 1,723 Posts
    • 1,318 Thanks
    Speculator
    Finally received Leeds reply. I think she meant 0.50%, not 0.75%!

    Hi Specky, thanks for your question. Issue 4 will get an increase. The underlying rate will be increasing from 0.25% to 0.75%. The bonus rate is unaffected. I hope this helps.
    • glider3560
    • By glider3560 16th Nov 17, 5:42 PM
    • 3,318 Posts
    • 2,043 Thanks
    glider3560
    Finally received Leeds reply. I think she meant 0.50%, not 0.75%!
    Originally posted by Speculator
    Rather 0.50%, not 0.25%!

    • IanManc
    • By IanManc 16th Nov 17, 7:07 PM
    • 345 Posts
    • 505 Thanks
    IanManc
    Finally received Leeds reply. I think she meant 0.50%, not 0.75%!

    Hi Specky, thanks for your question. Issue 4 will get an increase. The underlying rate will be increasing from 0.25% to 0.75%. The bonus rate is unaffected. I hope this helps.
    Originally posted by Speculator
    According to the "Keyfacts" document for the Leeds RS Issue 4 the bonus is 1.8% and the underlying rate is 0.5%, so I think she meant "The underlying rate will be increasing by 0.25% to 0.75". That would mean the total rate increasing from 2.3% (0.5% + 1.8%) to 2.55% (0.75% + 1.8%).

    I didn't realise that you were on such intimate terms with the Leeds that they would call you Specky.
    • welshmoneylover
    • By welshmoneylover 16th Nov 17, 7:12 PM
    • 2,700 Posts
    • 3,589 Thanks
    welshmoneylover
    I thought I had already posted this but can’t see it.
    The principality building society have launched a 4% regular saver today.
    There are conditions attached unfortunately but I thought it might be useful to some
    Be happy, it's the greatest wealth
    • schiff
    • By schiff 16th Nov 17, 7:33 PM
    • 17,710 Posts
    • 9,038 Thanks
    schiff

    I didn't realise that you were on such intimate terms with the Leeds that they would call you Specky.
    Originally posted by IanManc
    If speculator wears spectacles I think that qualifies as an -ism.
    • TheShape
    • By TheShape 16th Nov 17, 8:00 PM
    • 1,109 Posts
    • 862 Thanks
    TheShape
    Principality BS has just issued a new RS paying fixed 4.00% p.a., one year term, max £250 per month. Too bad it's "Only available to Members who’ve been with us for two years or more": I only became a member of this BS a few days ago!
    Originally posted by JamesRobinson48
    I thought I had already posted this but can’t see it.
    The principality building society have launched a 4% regular saver today.
    There are conditions attached unfortunately but I thought it might be useful to some
    Originally posted by welshmoneylover
    JamesRobinson48 appears to have made first mention (at least on this thread). Received my passbook yesterday.
    • soulsaver
    • By soulsaver 17th Nov 17, 12:36 AM
    • 1,446 Posts
    • 511 Thanks
    soulsaver
    Yorkshire BS add BoE base rate rise to variable rate accounts from Dec 14th...
    So their Monthly Regular Saver will go to 2.00% pa, £500 PM for 2 years, 1w/d per annum - not a great rate, I know, but good(ish) in a years time - you can get £6.5k at 2% if no changes.

    http://www.ybs.co.uk/index.html?cmpid=ppc-MICROSOFT-Brand-ybs&utm_source=bing&utm_medium=cpc&utm_campaign=Br and&utm_term=ybs&utm_content=YBS%20Exact
    Last edited by soulsaver; 17-11-2017 at 12:45 AM. Reason: clarity
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
    • Speculator
    • By Speculator 17th Nov 17, 1:24 AM
    • 1,723 Posts
    • 1,318 Thanks
    Speculator
    Yorkshire BS add BoE base rate rise to variable rate accounts from Dec 14th...
    So their Monthly Regular Saver will go to 2.00% pa, £500 PM for 2 years, 1w/d per annum - not a great rate, I know, but good(ish) in a years time - you can get £6.5k at 2% if no changes.

    http://www.ybs.co.uk/index.html?cmpid=ppc-MICROSOFT-Brand-ybs&utm_source=bing&utm_medium=cpc&utm_campaign=Br and&utm_term=ybs&utm_content=YBS%20Exact
    Originally posted by soulsaver
    Already discussed from post #6645

    Also, N&P (part of YBS) have an identical account. so you can have one of each.

    Open it quick before the N&P brand disappears.

    edit: appears the N&P account must be opened at any Norwich & Peterborough branch
    Last edited by Speculator; 17-11-2017 at 1:27 AM. Reason: .
    • BeachNut
    • By BeachNut 17th Nov 17, 4:48 AM
    • 80 Posts
    • 22 Thanks
    BeachNut
    Leeds close old RS and OPEN NEW
    Assuming you’ve not made any withdrawals, anything in the T&Cs stopping you from closing a fixed rate RS and opening a new higher variable rate issue 9 straight away ?
    • bigadaj
    • By bigadaj 17th Nov 17, 10:22 AM
    • 10,673 Posts
    • 6,974 Thanks
    bigadaj
    JamesRobinson48 appears to have made first mention (at least on this thread). Received my passbook yesterday.
    Originally posted by TheShape


    Royal Mail and Principality have won my award for speed and efficiency on this one.


    Posted my application on a Thursday afternoon with a second class stamp, received the passbook back on the Saturday, that's a rapid turnaround.
    • soulsaver
    • By soulsaver 17th Nov 17, 10:51 AM
    • 1,446 Posts
    • 511 Thanks
    soulsaver
    Already discussed from post #6645

    Also, N&P (part of YBS) have an identical account. so you can have one of each.

    Open it quick before the N&P brand disappears.

    edit: appears the N&P account must be opened at any Norwich & Peterborough branch
    Originally posted by Speculator
    Easily missed..
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
    • mhoc
    • By mhoc 17th Nov 17, 11:08 AM
    • 15,921 Posts
    • 198,203 Thanks
    mhoc
    Assuming you’ve not made any withdrawals, anything in the T&Cs stopping you from closing a fixed rate RS and opening a new higher variable rate issue 9 straight away ?
    Originally posted by BeachNut
    I've got Leeds 4 0.50% plus bonus and Leeds 5 paying 2.3% both £250 per month - not sure what would be the point in closing one or the other and opening a Leeds 9????
    Or have I missed something obvious?
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • AirlieBird
    • By AirlieBird 17th Nov 17, 11:22 AM
    • 698 Posts
    • 465 Thanks
    AirlieBird
    I've got Leeds 4 0.50% plus bonus and Leeds 5 paying 2.3% both £250 per month - not sure what would be the point in closing one or the other and opening a Leeds 9????
    Or have I missed something obvious?
    Originally posted by mhoc
    The obvious thing that you're missing is that Issue 9 will increase to 2.55% while issue 5, being fixed, remains at 2.3%.
    • mhoc
    • By mhoc 17th Nov 17, 11:38 AM
    • 15,921 Posts
    • 198,203 Thanks
    mhoc
    The obvious thing that you're missing is that Issue 9 will increase to 2.55% while issue 5, being fixed, remains at 2.3%.
    Originally posted by AirlieBird
    Will there be consequences for closing the issue 5 - I've got a July 2018 maturity date?

    So if I closed the issue 5 today can I do it myself online or do I need to ring up?
    And how do they pay the balance - do they send you a cheque or is it by BACs?
    And could I open an issue 9 also today, online and it would then reflect the upcoming interest rate rise in December??

    (This would actually solve a forthcoming cash flow crisis - money needed for regular savers exceeding the money in the base account. I was just contemplating what was the more likely - getting back some of the money somebody owes me or getting something sold on ebay or amazon )
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • adindas
    • By adindas 17th Nov 17, 12:31 PM
    • 3,311 Posts
    • 1,640 Thanks
    adindas
    Will there be consequences for closing the issue 5 - I've got a July 2018 maturity date?

    So if I closed the issue 5 today can I do it myself online or do I need to ring up?
    And how do they pay the balance - do they send you a cheque or is it by BACs?
    And could I open an issue 9 also today, online and it would then reflect the upcoming interest rate rise in December??

    (This would actually solve a forthcoming cash flow crisis - money needed for regular savers exceeding the money in the base account. I was just contemplating what was the more likely - getting back some of the money somebody owes me or getting something sold on ebay or amazon )
    Originally posted by mhoc
    I do not thing you could close it before maturity July 2018 without loss of interest.

    Can I withdraw money?
    • Access is limited to one withdrawal without notice or loss of interest prior to maturity and subject to the minimum operating balance of £50 being maintained.
    • You can withdraw up to a maximum of £300 in cash in branch. If you require more than this amount (up to a maximum of £1,000) you will need to provide the Society with 48 hours’ notice.
    • The account will mature at midnight on 31 July 2018. On the day after maturity (1 August 2018), your funds (including interest) will be transferred to an instant access maturity account. Full details including terms and conditions will be provided before maturity.
    • JamesRobinson48
    • By JamesRobinson48 17th Nov 17, 7:04 PM
    • 21 Posts
    • 53 Thanks
    JamesRobinson48
    Cambridge Building Society new RS issue
    Last week Cambridge Building Society launched a new RS, Issue 6. The T&Cs look much the same as the preceding Issue 5 which it replaces (2.00% p.a., 12 months, max £300 per month). My reading of the T&Cs (if I'm not mistaken) is that the new Issue 6 can be held in addition to preceding RS issues. In my case, I subscribed to Issue 5 less than two weeks ago and now I'm going for Issue 6 as well. I thought I'd mention this as I haven't seen it on the thread.
    • Westie983
    • By Westie983 18th Nov 17, 4:57 AM
    • 3,842 Posts
    • 14,000 Thanks
    Westie983
    Hi all,

    Does anyone happen to have the KPI for Issue 8 of the Virgin E Saver?

    As per the last one, its not easy to find, can someone help me? I am going to open store one next week and will ask what happens to Issue 1 which matures 1st December.

    Alway grateful

    Westie983
    Save 12k in 2017 #16 Total £22,555/£12,000 = 187.95%
    Sealed Pot Challenge ~ 11 #97 Total (£410) + £0.00/£800 = 51.25% ( x 11)
    Xmas 2017 £1 a Day #6 Total £400/£365 = 109.58%
    Virtual Sealed Pot #1 Total £1,600/£1,800 = 88.88%
    £2 Savers Club 2017 #3 Total (£1,450)+£50/£2,000 = 75.00%

    Total £26,465/£16,965 = 155.99%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • glider3560
    • By glider3560 18th Nov 17, 6:03 AM
    • 3,318 Posts
    • 2,043 Thanks
    glider3560
    Hi all,

    Does anyone happen to have the KPI for Issue 8 of the Virgin E Saver?
    Originally posted by Westie983
    I think I have it, it's just a PDF of the webpage though since I couldn't find the download. I'm not in the country at the moment, so I can send it to your when I get back (Monday evening) if you PM your email.

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