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
    • 1,074Posts
    • 3,523Thanks
    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 303
    • surreysaver
    • By surreysaver 14th Jul 17, 7:45 PM
    • 2,157 Posts
    • 1,218 Thanks
    surreysaver
    ...but Kent Reliance have now got a regular saver at £500 pm at 3% - woo hooo...(hint of sarcasm...)
    Originally posted by TheGardener
    I'll see if I can pop to my 'local' branch to open one!
    I consider myself to be a male feminist. Is that allowed?
    • TheGardener
    • By TheGardener 14th Jul 17, 8:06 PM
    • 2,051 Posts
    • 1,943 Thanks
    TheGardener
    oh yeah - I didn't realise their regular saver was a branch based account.
    Last edited by TheGardener; 14-07-2017 at 8:17 PM.
    • surreysaver
    • By surreysaver 14th Jul 17, 9:14 PM
    • 2,157 Posts
    • 1,218 Thanks
    surreysaver
    Well, they're called Kent Reliance but have branches in Southampton and Chichester! So I might be able to get to one of them!
    I consider myself to be a male feminist. Is that allowed?
    • colsten
    • By colsten 14th Jul 17, 10:00 PM
    • 8,595 Posts
    • 7,217 Thanks
    colsten
    But this is the savings and investments board - they can moan about mortgage rates on the House buying and selling board
    Originally posted by TheGardener
    Yeah, let's stuff those with mortgages and debts. It makes no differences to the health of society.
    • TheGardener
    • By TheGardener 14th Jul 17, 10:15 PM
    • 2,051 Posts
    • 1,943 Thanks
    TheGardener
    Yeah, let's stuff those with mortgages and debts. It makes no differences to the health of society.
    Originally posted by colsten
    No offence intended - it was a dry response to pitiful rates for savers on a savings and investments board - we all understand there are two sides to the coin, that's why there are several boards dedicated to MFW, DFW and house buying and selling. Even savers have mortgages and debts (although strictly speaking I believe its not very MSE to have credit debts and savings at the same time)
    Last edited by TheGardener; 14-07-2017 at 10:20 PM.
    • bigadaj
    • By bigadaj 15th Jul 17, 6:02 AM
    • 9,349 Posts
    • 5,977 Thanks
    bigadaj
    No offence intended - it was a dry response to pitiful rates for savers on a savings and investments board - we all understand there are two sides to the coin, that's why there are several boards dedicated to MFW, DFW and house buying and selling. Even savers have mortgages and debts (although strictly speaking I believe its not very MSE to have credit debts and savings at the same time)
    Originally posted by TheGardener
    You're not a stoozer then, some interesting stories of six figure sums on cards at 0%, netting the individual a few grand a year net.
    • bigadaj
    • By bigadaj 15th Jul 17, 6:04 AM
    • 9,349 Posts
    • 5,977 Thanks
    bigadaj
    Yeah, let's stuff those with mortgages and debts. It makes no differences to the health of society.
    Originally posted by colsten
    So you're saying that nearly a decade of near zero interest rates and lax credit has led to a healthier society, I think I'd disagree.
    • colsten
    • By colsten 15th Jul 17, 7:49 AM
    • 8,595 Posts
    • 7,217 Thanks
    colsten
    So you're saying that nearly a decade of near zero interest rates and lax credit has led to a healthier society, I think I'd disagree.
    Originally posted by bigadaj
    Non sequitur.
    • surreysaver
    • By surreysaver 15th Jul 17, 8:08 AM
    • 2,157 Posts
    • 1,218 Thanks
    surreysaver
    Yeah, let's stuff those with mortgages and debts. It makes no differences to the health of society.
    Originally posted by colsten
    Well, with an offset mortgage of 1%, its worth me borrowing money and putting it in savings of 2%.
    I consider myself to be a male feminist. Is that allowed?
    • karlie88
    • By karlie88 15th Jul 17, 8:50 AM
    • 8,269 Posts
    • 105,910 Thanks
    karlie88
    I thought this was a thread for regular savers?

    I'm half-expecting the launch of a new regular saver with all this discussion, only to be disappointed.
    Official MSE canny forumite and HUKD VIP badge member
    • bigadaj
    • By bigadaj 15th Jul 17, 9:13 AM
    • 9,349 Posts
    • 5,977 Thanks
    bigadaj
    Non sequitur.
    Originally posted by colsten
    No constructive response then.....

    Edit - Apologies you must be a fan of corbynomics.
    Last edited by bigadaj; 15-07-2017 at 9:31 AM.
    • colsten
    • By colsten 15th Jul 17, 9:49 AM
    • 8,595 Posts
    • 7,217 Thanks
    colsten
    you must be a fan of corbynomics.
    Originally posted by bigadaj
    • schiff
    • By schiff 15th Jul 17, 11:29 AM
    • 17,518 Posts
    • 8,834 Thanks
    schiff
    I thought this was a thread for regular savers?

    I'm half-expecting the launch of a new regular saver with all this discussion, only to be disappointed.
    Originally posted by karlie88
    It is. Have you done the two new Virgins?
    • badger09
    • By badger09 15th Jul 17, 11:48 AM
    • 5,071 Posts
    • 4,271 Thanks
    badger09
    It is. Have you done the two new Virgins?
    Originally posted by schiff


    care to rephrase that?
    • Special_Saver2
    • By Special_Saver2 15th Jul 17, 4:02 PM
    • 1,074 Posts
    • 3,523 Thanks
    Special_Saver2
    Hi Everybody,

    Here is this weekend's update.

    - Virgin Money Regular E-Saver and Regular Saver updated to issues 6 and 5 respectively paying 2.25% on up to £250 per month until 20th August and 1st August 2018 respectively (and moved to post 3 as these accounts now have more than 12 months to run on them)
    - Nationwide Flexclusive Regular Saver updated to include new limit of £250 per month

    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
    • schiff
    • By schiff 17th Jul 17, 10:42 AM
    • 17,518 Posts
    • 8,834 Thanks
    schiff
    Surprised this morning to get a 2pm appointment to open a Virgin store Issue 5; only phoned at 10.35! Have these Virgin RS's reached saturation point I wonder?
    • Frogletina
    • By Frogletina 17th Jul 17, 1:37 PM
    • 2,861 Posts
    • 10,316 Thanks
    Frogletina
    Surprised this morning to get a 2pm appointment to open a Virgin store Issue 5; only phoned at 10.35! Have these Virgin RS's reached saturation point I wonder?
    Originally posted by schiff
    I went in this morning and they opened it straight away. I did miss the store issue 4, but I am running out of money in lower interest accounts to open them

    frogletina
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first

    SPC 8 #441 £1567.31 SPC 9 #441 £1014.64
    • schiff
    • By schiff 17th Jul 17, 4:17 PM
    • 17,518 Posts
    • 8,834 Thanks
    schiff
    Surprised this morning to get a 2pm appointment to open a Virgin store Issue 5; only phoned at 10.35! Have these Virgin RS's reached saturation point I wonder?
    Originally posted by schiff
    I was lucky, an additional member of staff had been brought in so that helped. Otherwise it would have been next week and too close to 31/7. It's getting to feel like family now, enjoyable conversations not about money with two staff who had opened accounts for me.
    • Marvo5
    • By Marvo5 17th Jul 17, 7:30 PM
    • 80 Posts
    • 75 Thanks
    Marvo5
    I've asked this elsewhere but have not had a reply. With a joint Santander account, is the regular saver limited to just one of the partners or can both open one?

    Tried online but can't find out.
    • Careful_ly
    • By Careful_ly 17th Jul 17, 8:31 PM
    • 608 Posts
    • 431 Thanks
    Careful_ly
    I've asked this elsewhere but have not had a reply. With a joint Santander account, is the regular saver limited to just one of the partners or can both open one?

    Tried online but can't find out.
    Originally posted by Marvo5

    You can have one each, as long as not opened as a joint saver.
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

102Posts Today

1,834Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin