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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,043Posts
    • 3,134Thanks
    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 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 (you need to choose the right hand option on that page to view all regular savings accounts)
    Moneyfacts.co.uk Children's Savings Accounts Page
    Moneysupermarket.com Regular Savings Accounts Page
    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, 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; 05-11-2016 at 4:02 PM.
Page 227
    • mgarl10024
    • By mgarl10024 18th Oct 16, 2:19 PM
    • 510 Posts
    • 335 Thanks
    mgarl10024
    Does anyone have the details for making BACS deposits to Leeds Building Soc Regular Saver?

    I am sure it has been asked and answered before but it is a long thread to check and the LBS site has nothing.

    Thanks
    Originally posted by alternate
    http://www.leedsbuildingsociety.co.uk/_resources/pdfs/savings-pdfs/GIC_web.pdf
    Faster Payment, BACS, Standing Order, CHAPS and IMO,
    quoting sort code 40-27-15, account number 12440040 and
    your Account number.
    Just checked and those are the details I use.
    • alternate
    • By alternate 18th Oct 16, 3:06 PM
    • 412 Posts
    • 144 Thanks
    alternate
    thx for that
    • JamesRobinson48
    • By JamesRobinson48 18th Oct 16, 5:45 PM
    • 5 Posts
    • 4 Thanks
    JamesRobinson48
    Please, has anyone heard yet from Leeds Building Society the terms (if any) that it will offer for continuing subscriptions to their 3rd Issue RS, which matures on 31st October?
    • badger09
    • By badger09 18th Oct 16, 6:03 PM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    Please, has anyone heard yet from Leeds Building Society the terms (if any) that it will offer for continuing subscriptions to their 3rd Issue RS, which matures on 31st October?
    Originally posted by JamesRobinson48
    No.

    But as it is a non fixed term account, I will continue to pay in £250 per month
    • glider3560
    • By glider3560 18th Oct 16, 6:09 PM
    • 3,021 Posts
    • 1,820 Thanks
    glider3560
    Please, has anyone heard yet from Leeds Building Society the terms (if any) that it will offer for continuing subscriptions to their 3rd Issue RS, which matures on 31st October?
    Originally posted by JamesRobinson48
    It doesn't mature on 31st October - that is simply when interest gets paid. You can keep paying money in after that. In previous editions, the Leeds regular savers have accepted new money for much longer then 12 months.

    • Westie983
    • By Westie983 18th Oct 16, 6:41 PM
    • 3,219 Posts
    • 12,583 Thanks
    Westie983
    Please, has anyone heard yet from Leeds Building Society the terms (if any) that it will offer for continuing subscriptions to their 3rd Issue RS, which matures on 31st October?
    Originally posted by JamesRobinson48
    It doesn't mature, its an ongoing account till they decide to pull it in favour of issue 4, 31st October is when the interest is paid, you continue to fund the account as normal, till otherwise told.

    I have held issue 3 since February 2015.

    Westie983
    Save 12k in 2016 #16 Total £14650/£12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£13/£300 = 88.33% ( x 10)
    Xmas 2017 £1 a Day #6 Total £34.00/£365 = 9.31%
    Virtual Sealed Pot #1 Total £800/£800 = 100.00%
    £2 Savers Club 2016 #104 Total (£1060)+£386/£2000 = 72.30%

    Total £17195.78/£15465 = 111.18%
    • tg99
    • By tg99 18th Oct 16, 7:47 PM
    • 403 Posts
    • 183 Thanks
    tg99
    Not sure if been mentioned previously but phoned to open another M&S Reg Saver today and was told that I actually get 6% not the 5% I was expecting given I switched my current account to M&S pre (think she said 29th) Sep 2016. She said to ignore the account literature to follow in the post where it mentions the 5% as I would receive additional separate confirmation in the post that I will actually get 6%.
    • Westie983
    • By Westie983 18th Oct 16, 8:08 PM
    • 3,219 Posts
    • 12,583 Thanks
    Westie983
    Not sure if been mentioned previously but phoned to open another M&S Reg Saver today and was told that I actually get 6% not the 5% I was expecting given I switched my current account to M&S pre (think she said 29th) Sep 2016. She said to ignore the account literature to follow in the post where it mentions the 5% as I would receive additional separate confirmation in the post that I will actually get 6%.
    Originally posted by tg99
    Did you get this persons name? just in case the additional separate confirmation never arrives?

    I thought regular saver rates are based on opening dates?
    Save 12k in 2016 #16 Total £14650/£12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£13/£300 = 88.33% ( x 10)
    Xmas 2017 £1 a Day #6 Total £34.00/£365 = 9.31%
    Virtual Sealed Pot #1 Total £800/£800 = 100.00%
    £2 Savers Club 2016 #104 Total (£1060)+£386/£2000 = 72.30%

    Total £17195.78/£15465 = 111.18%
    • tg99
    • By tg99 18th Oct 16, 8:31 PM
    • 403 Posts
    • 183 Thanks
    tg99
    Did you get this persons name? just in case the additional separate confirmation never arrives?

    I thought regular saver rates are based on opening dates?
    Originally posted by Westie983
    That's what I thought so was surprised when she said 6%. She did explicitly read out information about the product which included this stuff re getting 6% not 5% so it didn't sound like it was someone who was making an error / got confused about the details. Didn't get her name but hopefully if any issue will have a call recording or log of who I spoke to in my customer details.
    • Westie983
    • By Westie983 18th Oct 16, 8:45 PM
    • 3,219 Posts
    • 12,583 Thanks
    Westie983
    That's what I thought so was surprised when she said 6%. She did explicitly read out information about the product which included this stuff re getting 6% not 5% so it didn't sound like it was someone who was making an error / got confused about the details. Didn't get her name but hopefully if any issue will have a call recording or log of who I spoke to in my customer details.
    Originally posted by tg99
    Could've been easily done if reading from the old T&C"s especially as its only just dropped to 5%... Just a thought.
    Save 12k in 2016 #16 Total £14650/£12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£13/£300 = 88.33% ( x 10)
    Xmas 2017 £1 a Day #6 Total £34.00/£365 = 9.31%
    Virtual Sealed Pot #1 Total £800/£800 = 100.00%
    £2 Savers Club 2016 #104 Total (£1060)+£386/£2000 = 72.30%

    Total £17195.78/£15465 = 111.18%
    • tg99
    • By tg99 18th Oct 16, 8:52 PM
    • 403 Posts
    • 183 Thanks
    tg99
    Could've been easily done if reading from the old T&C"s especially as its only just dropped to 5%... Just a thought.
    Originally posted by Westie983
    But she read out at the same time the information to ignore the 5% in the literature which sounded like it was all part of the prepared product info they read you so doesn't seem to me like a case of her just using an old set of T&C.
    • ratechaser
    • By ratechaser 18th Oct 16, 9:14 PM
    • 398 Posts
    • 310 Thanks
    ratechaser
    It doesn't mature, its an ongoing account till they decide to pull it in favour of issue 4, 31st October is when the interest is paid, you continue to fund the account as normal, till otherwise told.

    I have held issue 3 since February 2015.

    Westie983
    Originally posted by Westie983
    I've got the issue 3 - can I have an issue 4 as well? Wasn't previously high on my priority list at 2.3%, but right now it's starting to look a bit more attractive!
    • tg99
    • By tg99 18th Oct 16, 9:15 PM
    • 403 Posts
    • 183 Thanks
    tg99
    I've got the issue 3 - can I have an issue 4 as well? Wasn't previously high on my priority list at 2.3%, but right now it's starting to look a bit more attractive!
    Originally posted by ratechaser
    Yep I recently opened the 4 to add to my existing 3.
    • Westie983
    • By Westie983 19th Oct 16, 3:54 AM
    • 3,219 Posts
    • 12,583 Thanks
    Westie983
    I've got the issue 3 - can I have an issue 4 as well? Wasn't previously high on my priority list at 2.3%, but right now it's starting to look a bit more attractive!
    Originally posted by ratechaser
    Yes you can, I opened 4 when it was launched, and now have both books running along each other, with Bucks as well, all the other regular savers are online only,

    Looking forward to seeing this months interest.

    Westie983
    Save 12k in 2016 #16 Total £14650/£12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£13/£300 = 88.33% ( x 10)
    Xmas 2017 £1 a Day #6 Total £34.00/£365 = 9.31%
    Virtual Sealed Pot #1 Total £800/£800 = 100.00%
    £2 Savers Club 2016 #104 Total (£1060)+£386/£2000 = 72.30%

    Total £17195.78/£15465 = 111.18%
    • schiff
    • By schiff 19th Oct 16, 8:59 AM
    • 17,012 Posts
    • 8,387 Thanks
    schiff
    Does anyone have the details for making BACS deposits to Leeds Building Soc Regular Saver?

    I am sure it has been asked and answered before but it is a long thread to check and the LBS site has nothing.

    Thanks
    Originally posted by alternate
    40-27-15 with your account number as the reference.
    • Speculator
    • By Speculator 19th Oct 16, 10:14 AM
    • 1,588 Posts
    • 1,206 Thanks
    Speculator
    My Saffron BS 3.5% regular matures 4th Nov but you are allowed early closure without penalty.

    Therefore, I will close it next Monday and reopen a new one @ 3.5% in case they withdraw it or lower the interest at the end of this month. I will transfer £200 from the matured balance to the new a/c and pay the remainder into my 123.

    Another bonus is that I will have a balance of £400 on 1st Nov.

    Shame I can't do the same with my Nationwide Flexclusive Reg.
    Last edited by Speculator; 19-10-2016 at 10:16 AM. Reason: .
    • ratechaser
    • By ratechaser 19th Oct 16, 11:52 AM
    • 398 Posts
    • 310 Thanks
    ratechaser
    Excellent, thank you both. I am lucky in that I'm nowhere near Leeds, but they just happen to have a branch nearby (same deal with the Nottingham).

    Missed the Bucks one by the looks of it...
    • steve65e
    • By steve65e 19th Oct 16, 1:33 PM
    • 76 Posts
    • 39 Thanks
    steve65e
    Excellent, thank you both. I am lucky in that I'm nowhere near Leeds, but they just happen to have a branch nearby (same deal with the Nottingham).

    Missed the Bucks one by the looks of it...
    Originally posted by ratechaser
    I also have both Leeds issues. Please note that the bonus periods are different.

    Issue 3 runs 1 Nov to 31 Oct

    Isuue 4 runs 1 Sep to 31 Aug
    • steve65e
    • By steve65e 19th Oct 16, 1:46 PM
    • 76 Posts
    • 39 Thanks
    steve65e
    To ss2

    Norwich and Peterborough BS Monthly Regular Saver Account

    Interest rate: 1.75% gross p.a. variable from 2nd September 2016
    Monthly payment: £0-£500
    Miss any payments: Yes, you can miss as many as you like
    Penalty-free withdrawals: Yes, one per year (based on anniversary of account opening date)
    Age of applicant: Not stated
    How to open account: Branch only
    Special conditions: This account runs for 2 years. Once opened, can be operated by post or electronic payment and "limited facilities are available online via internet banking". Steve65e reports in post 4102 that the N&P BS Monthly Regular Saver account can be opened in Yorkshire BS branches so it is possible that may apply to this account too.


    To clarify...

    You can open a YBS RS in a YBS branch or by post.

    You can only open an N&P RS in an N&P branch, but not by post. If you open an N&P RS it will actually be a YBS account but branded N&P ie they are the same thing.

    T t&cs here http://www.nandp.co.uk/PDFs/savings/monthly-regular-saver-account-factsheet
    seem to imply that you can't have both of them.

    Phew.
    • adindas
    • By adindas 19th Oct 16, 6:16 PM
    • 2,858 Posts
    • 1,284 Thanks
    adindas
    My Saffron BS 3.5% regular matures 4th Nov but you are allowed early closure without penalty.

    Therefore, I will close it next Monday and reopen a new one @ 3.5% in case they withdraw it or lower the interest at the end of this month. I will transfer £200 from the matured balance to the new a/c and pay the remainder into my 123.

    Another bonus is that I will have a balance of £400 on 1st Nov.

    Shame I can't do the same with my Nationwide Flexclusive Reg.
    Originally posted by Speculator
    Great info.
    I have not read the T&C yet. Just wonder will you still get the advertised interest of 3.5% when you close it earlier ?? Any info on this will be very much appreciated ...
    Last edited by adindas; 19-10-2016 at 6:18 PM.
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