Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,069Posts
    • 3,466Thanks
    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
    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; 27-03-2017 at 12:28 AM.
Page 267
    • schiff
    • By schiff 10th Apr 17, 11:25 AM
    • 17,460 Posts
    • 8,800 Thanks
    schiff
    Phone them and ask? It's quickest!
    • Ed-1
    • By Ed-1 10th Apr 17, 11:28 AM
    • 1,854 Posts
    • 986 Thanks
    Ed-1
    Can anyone confirm at what point after opening a 123 account, I would be come a 123 world customer and therefore entitled to the 5% interest on the regular e saver? I opened the account last week, have moved some DD's and they are now showing on the account, but none have been taken as yet, I have done the min pay in, but haven't been charged the monthly Fee as yet. Can I open the account at 5% now or do I need to wait for DD's to be taken / Fee to be paid before I would quailify? Thanks
    Originally posted by SuiDreams
    You are a 123 World customer as soon as you hold a 123 account of some description. So you can do it now.
    • SuiDreams
    • By SuiDreams 10th Apr 17, 11:37 AM
    • 2,195 Posts
    • 10,244 Thanks
    SuiDreams
    You are a 123 World customer as soon as you hold a 123 account of some description. So you can do it now.
    Originally posted by Ed-1

    Thank you, will get that set up now. Thinks that's the last of the 5% accounts that I was missing.
    • ColdIron
    • By ColdIron 10th Apr 17, 11:42 AM
    • 3,157 Posts
    • 3,595 Thanks
    ColdIron
    Off the top of my head I think you become a 1|2|3 customer as soon as you hold a 1|2|3 Current Account. All the other conditions are just prerequisites for interest and cashback. Have you tried to open the Regular eSaver?
    • SuiDreams
    • By SuiDreams 10th Apr 17, 11:48 AM
    • 2,195 Posts
    • 10,244 Thanks
    SuiDreams
    Off the top of my head I think you become a 1|2|3 customer as soon as you hold a 1|2|3 Current Account. All the other conditions are just prerequisites for interest and cashback. Have you tried to open the Regular eSaver?
    Originally posted by ColdIron

    I went to start the application process but it doesn't tell you which interest rate you will get, T&C's say you must be a 123 world customer at the point of applying to get the rate.
    • ColdIron
    • By ColdIron 10th Apr 17, 12:02 PM
    • 3,157 Posts
    • 3,595 Thanks
    ColdIron
    I can't remember when it showed me 5% or even if it did. I was a 1|2|3 Current Account customer like you so I knew I qualified. Did you try applying from the link in online banking when you were logged on? I'd carry through the application, you can always cancel within 14 days and get uppity on the phone
    • SuiDreams
    • By SuiDreams 10th Apr 17, 12:40 PM
    • 2,195 Posts
    • 10,244 Thanks
    SuiDreams
    Feel very stupid now. Once you get into the application there is a click to apply ad none 123 work and one for 123 world / Select. Account set up instantly at 5%. In the end it was easier to set up than the rest.
    • teddysmum
    • By teddysmum 10th Apr 17, 3:02 PM
    • 7,728 Posts
    • 4,581 Thanks
    teddysmum
    'Tis

    Don't you mean could be less?
    Originally posted by schiff

    No. The difference (ie saving) would be more if you were having to pay some of the £5 fee not covered by cashback . The saving would be £75 plus any topup, which you would no longer need to pay, assuming you closed the 123 account.
    Last edited by teddysmum; 10-04-2017 at 3:08 PM.
    • SurelyNot
    • By SurelyNot 10th Apr 17, 3:35 PM
    • 6 Posts
    • 1 Thanks
    SurelyNot
    I wouldn't feel stupid SuiDreams, I was just about to ask about that too. I've just setup a 123 lite account and just waiting for the online details to open the issue 5 E-saver.

    I wonder if the banks are anticipating a BOE rate increase?
    • soulsaver
    • By soulsaver 10th Apr 17, 11:59 PM
    • 1,255 Posts
    • 408 Thanks
    soulsaver
    Off the top of my head I think you become a 1|2|3 customer as soon as you hold a 1|2|3 Current Account. All the other conditions are just prerequisites for interest and cashback. Have you tried to open the Regular eSaver?
    Originally posted by ColdIron
    123 World customer... qualifiers:
    http://www.santander.co.uk/uk/123-customers/

    "A 1|2|3 World customer is someone who holds one or more of the following products:
    1|2|3 Current Account
    1|2|3 Lite Current Account
    1|2|3 Student Current Account
    1|2|3 Postgraduate Account
    1|2|3 Credit Card
    1|2|3 Graduate Current Account
    1|2|3 Mini Current Account or 1|2|3 Mini (in Trust)
    !
    !
    Trustees are not classed as 1|2|3 World customers. All customers must meet the eligibility for each product and 1|2|3 World offer. Please note the 1|2|3 Credit Card is no longer on sale."
    Last edited by soulsaver; 11-04-2017 at 12:03 AM.
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
    • Jo Blogs
    • By Jo Blogs 11th Apr 17, 1:30 AM
    • 665 Posts
    • 2,132 Thanks
    Jo Blogs
    ............

    I wonder if the banks are anticipating a BOE rate increase?
    Originally posted by SurelyNot
    Probably more of a 'best rate' to go along with other 5% regular savers that are presently on offer
    Saved Nitty Gritty £6585.48 [132%] / £5000-[July] £227.58 for the 'Save 12k in 2017' #157
    2017 Womble #35 £3835.97 June NSDs 19/15CCCChl 33/52 weeks
    June PPChl#002 Pts 25
    • Special_Saver2
    • By Special_Saver2 14th Apr 17, 8:23 PM
    • 1,069 Posts
    • 3,466 Thanks
    Special_Saver2
    Hi Everybody,

    Here is this weekend's update.

    I cannot find anything that has changed.

    I will do another update next weekend.

    SS2
    -----------------------------------------------------------------
    For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1
    • 10_66
    • By 10_66 15th Apr 17, 10:51 AM
    • 2,586 Posts
    • 968 Thanks
    10_66
    TSB Monthly Saver - Standing Orders
    Last year when setting up a TSB Monthly Saver (5%), although the payments into it had to be by SO they didn't have to come from a TSB current account (only had to have a TSB current account to qualify). I've just set up this year's (2%), and in the summary box sheet it states under "ways to pay in" "You must set up a monthly standing order between £25 and up to £250 from a TSB current account".

    However, in their T&C's it states "You must agree to set up a standing order into the Account for one payment of between £25 and £250 each calendar month the Account is open. It doesn't say in this sentence that it has to be from a TSB account.

    Can anyone clarify if the SO's now definitely have to come from TSB, please?

    Edit: I've just spoken to TSB who confirm that the summary box is incorrect and they'll be amending it. The SO can come from another bank account.


    ...........
    Last edited by 10_66; 15-04-2017 at 11:26 AM.
    • mgarl10024
    • By mgarl10024 15th Apr 17, 4:27 PM
    • 563 Posts
    • 366 Thanks
    mgarl10024
    Edit: I've just spoken to TSB who confirm that the summary box is incorrect and they'll be amending it. The SO can come from another bank account.
    Originally posted by 10_66
    Might be worth getting that in writing.
    • adindas
    • By adindas 18th Apr 17, 8:17 PM
    • 3,135 Posts
    • 1,488 Thanks
    adindas
    Santander Regular eSaver - Problem with online application ??
    Since last week I have tried a few times to open a new Santander Regular eSaver online. I tired this afternoon again a few times still the same problem. This is the message I always get.

    A technical error has occurred. This could be:
    - due to inactivity :
    Definitely not Correct as there is no inactivity

    due to a system problem :
    Is it their System ??

    because you have tried to access a secure page you have previously bookmarked.
    Do not Understand About this. But in the past I have no problem to apply a new online product.

    because you have disabled cookies on your browser
    Definitely not Correct

    Please try again or, if you are still experiencing technical difficulties please call us on 0845 600 4388

    I have tried to call their TB Customer Service and she told me that it could not be opened over the phone. She advised me to book an appointment with a branch. Of course I will try not to go to their branch if possible.

    Does anyone else got the same problem ?
    How did you solve the problem like this ?

    Any info will be very much appreciated.
    • MarkFromCornwall
    • By MarkFromCornwall 18th Apr 17, 8:40 PM
    • 690 Posts
    • 413 Thanks
    MarkFromCornwall

    Does anyone else got the same problem ?
    How did you solve the problem like this ?

    Any info will be very much appreciated.
    Originally posted by adindas
    I opened this account without problems. In your situation I'd first try using a different browser or a different device.

    Mark
    • 10_66
    • By 10_66 18th Apr 17, 8:41 PM
    • 2,586 Posts
    • 968 Thanks
    10_66
    ...Any info will be very much appreciated.
    Originally posted by adindas
    I'm no techie, but could you try using a different browser (ie, Chrome if you don't already use it)?
    • adindas
    • By adindas 19th Apr 17, 1:46 AM
    • 3,135 Posts
    • 1,488 Thanks
    adindas
    I'm no techie, but could you try using a different browser (ie, Chrome if you don't already use it)?
    Originally posted by 10_66
    I opened this account without problems. In your situation I'd first try using a different browser or a different device.

    Mark
    Originally posted by MarkFromCornwall
    Thanks for the advice. I have tried using three different Browsers e.g Firefox, Chrome, Edge still luck. Also I have used computer on my workplace. I also have clears all of temporary files, history, cookies still no luck.

    May I ask those who have successfully applied online, when did you apply and no technical error ?

    I wonder if anyone else who applied last week or this week who could share their experience ??
    • 10_66
    • By 10_66 19th Apr 17, 6:12 AM
    • 2,586 Posts
    • 968 Thanks
    10_66
    ...I wonder if anyone else who applied last week or this week who could share their experience ??
    Originally posted by adindas
    As no one else is reporting the same error it doesn't seem like the problem's on Santander's side. I know this might be a daft question, but have you got one of the qualifying accounts you need in order to open their regular saver (123 current account) or you don't already have a Santander regular saver?
    • adindas
    • By adindas 19th Apr 17, 7:20 AM
    • 3,135 Posts
    • 1,488 Thanks
    adindas
    As no one else is reporting the same error it doesn't seem like the problem's on Santander's side. I know this might be a daft question, but have you got one of the qualifying accounts you need in order to open their regular saver (123 current account) or you don't already have a Santander regular saver?
    Originally posted by 10_66
    1. Yes, I have Santander 123 lite
    2. No. I had regular e-saver before, but It was mature early last week and is already converted to everyday saver (forgot the exact name (?)
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,891Posts Today

8,186Users online

Martin's Twitter