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    • IanManc
    • By IanManc 22nd Sep 17, 8:32 AM
    • 368 Posts
    • 547 Thanks
    IanManc
    Provided you have more than £1k in savings, the Charter Savings Easy Access account paying 1.26% seems to beat the top two open to all regular saver accounts: Leeds Regular Saver (effective rate 1.24%) and the Virgin Money Regular Saver (effective rate 1.21%).

    Or am I missing something?
    Originally posted by dekkard
    You're missing something. And you've just made up the "effective rate" figures you have quoted, and they're nonsense.

    The true effective rate of the Leeds account is 2.3% and the Virgin one is 2.25%. You only get interest for money which is actually in the account in any savings account.

    This issue has been done to death on these forums and has been explained ad nauseam.
    Last edited by IanManc; 22-09-2017 at 8:40 AM.
    • robertrdw
    • By robertrdw 12th Oct 17, 12:55 PM
    • 1 Posts
    • 0 Thanks
    robertrdw
    Yorkshire BS Regular Saver
    I have had a Yorkshire BS Regular Saver since 2006, paying an annual bonus of 3.5% on balances up to £20k. Clearly this is a very good rate these days and I have been transferring in the maximum contribution of £500 per month from other savings, and keeping the balance as high as I can. However, the Society has now made a decision to convert this account into a lower interest account paying 1.5% p.a. Can they legally do this?
    • eskbanker
    • By eskbanker 12th Oct 17, 1:17 PM
    • 5,902 Posts
    • 5,861 Thanks
    eskbanker
    I have had a Yorkshire BS Regular Saver since 2006, paying an annual bonus of 3.5% on balances up to £20k. Clearly this is a very good rate these days and I have been transferring in the maximum contribution of £500 per month from other savings, and keeping the balance as high as I can. However, the Society has now made a decision to convert this account into a lower interest account paying 1.5% p.a. Can they legally do this?
    Originally posted by robertrdw
    Probably worth reading the dedicated thread on this at http://forums.moneysavingexpert.com/showthread.php?t=5722669 but I believe the view is that they're acting in compliance with their Ts & Cs by giving 60 days notice of the change. Do you believe there is some sort of permanent binding commitment to the old rate and if so, do you have any backup for this?
    • ctdctd
    • By ctdctd 12th Oct 17, 1:27 PM
    • 853 Posts
    • 672 Thanks
    ctdctd
    Probably worth reading the dedicated thread on this at http://forums.moneysavingexpert.com/showthread.php?t=5722669 but I believe the view is that they're acting in compliance with their Ts & Cs by giving 60 days notice of the change. Do you believe there is some sort of permanent binding commitment to the old rate and if so, do you have any backup for this?
    Originally posted by eskbanker
    The 3.5% bonus was fixed in the original terms of the account - that is why the only way the YBS can exit is to close the account. They are transferring the deposits to a new account, or you can withdraw with no penalty between 14th Oct and 14th Dec which is their 60 days notice.
    Do Money Saving sites make you buy more bargains - and spend more money?
    • dekkard
    • By dekkard 12th Nov 17, 7:01 PM
    • 97 Posts
    • 31 Thanks
    dekkard
    Virgin Regular Saver Issue 8 available now.

    2.25% as with previous issue.
    • schiff
    • By schiff 12th Nov 17, 7:33 PM
    • 17,752 Posts
    • 9,091 Thanks
    schiff
    Virgin Regular Saver Issue 8 available now.

    2.25% as with previous issue.
    Originally posted by dekkard
    For the first time I'm hesitating with a Virgin RS. Well two actually. It's the impact of the change in the base rate. I'm disappointed that 2.35% or something like it was not offered. The difference would be tiny but encouraging. I know I'll come to terms with it and open both but even so. I don't bother with RSs under 2.25% this time round, the available funds never having been bottomless anyway.
    • verybigchris
    • By verybigchris 12th Nov 17, 8:08 PM
    • 383 Posts
    • 490 Thanks
    verybigchris
    For the first time I'm hesitating with a Virgin RS. Well two actually. It's the impact of the change in the base rate. I'm disappointed that 2.35% or something like it was not offered. The difference would be tiny but encouraging. I know I'll come to terms with it and open both but even so. I don't bother with RSs under 2.25% this time round, the available funds never having been bottomless anyway.
    Originally posted by schiff
    The Virgin RS accounts allow withdrawals, so it's worth having as long as you've got cash earning <2.25%.

    • badger09
    • By badger09 13th Nov 17, 9:32 AM
    • 5,585 Posts
    • 4,895 Thanks
    badger09
    Virgin Regular Saver Issue 8 available now.

    2.25% as with previous issue.
    Originally posted by dekkard
    Announced on the main RS thread on Friday morning. Mineís already open & funded. As itís instant access, thereís nothing to lose by opening it.
    I'm a supporter of dunstonh
    • Speculator
    • By Speculator 13th Nov 17, 3:10 PM
    • 1,725 Posts
    • 1,320 Thanks
    Speculator
    Coventry announced a 0.25% increase for all their Variable rate savings a/cs from 1st Dec so the former Stroud & Swindon Regular Savings Account should go up to 3%. (It was paying 3.10% earlier this month but was decreased by 0.35%)
    • RG2015
    • By RG2015 13th Nov 17, 4:08 PM
    • 617 Posts
    • 323 Thanks
    RG2015
    Virgin Regular Saver Issue 8 available now.
    2.25% as with previous issue.
    Originally posted by dekkard
    I have just looked on the VM website and their estimate of the interest earned over 14 months as at 20/12/18 is £49.22.

    I have an Ulster Bank easy access account paying 1.25% and some other banks give slightly more. I calculate the extra interest I would get with VM issue 8 is £21.88 as follows:

    1) £49.22 x 1.25/2.25 = £27.34
    2) £49.22 - £27.34 = £21.88

    Have I got the comparison correct?
    • ColdIron
    • By ColdIron 13th Nov 17, 4:15 PM
    • 3,671 Posts
    • 4,418 Thanks
    ColdIron
    Have a look at the RS Calculator
    • RG2015
    • By RG2015 13th Nov 17, 4:26 PM
    • 617 Posts
    • 323 Thanks
    RG2015
    Have a look at the RS Calculator
    Originally posted by ColdIron
    Many thanks! This is an excellent tool that also shows that I can still perform basic arithmetic.
    • lesleyp118
    • By lesleyp118 15th Nov 17, 7:05 PM
    • 17 Posts
    • 10 Thanks
    lesleyp118
    Regular Saver account required for £400 per month
    Sorry if I've missed something in the article or this thread, but I'm looking for a regular savings account which allows me to save approx £400 per month. I wish to keep this separate from other savings, and I already have current (Flex) accounts with Nationwide and their Loyalty Saver as well as some other savings and an ISA.
    With the "best savings accounts" that I've seen listed, there always seems to be maximum of £250 or so per month, so they are not really what I'm looking for.
    Can anyone help please? Thanks in anticipation
    • Eco Miser
    • By Eco Miser 15th Nov 17, 7:17 PM
    • 3,226 Posts
    • 2,989 Thanks
    Eco Miser
    Sorry if I've missed something in the article or this thread, but I'm looking for a regular savings account which allows me to save approx £400 per month.
    Originally posted by lesleyp118
    1) Lloyds Bank Club Lloyds Monthly Saver
    2) Use two £250 savers
    Eco Miser
    Saving money for well over half a century
    • solartom
    • By solartom 15th Nov 17, 7:25 PM
    • 6 Posts
    • 2 Thanks
    solartom
    @lesleyp118
    the only RS that allows £400 pcm is the Club Lloyds Monthly Saver
    but you need the Club Lloyds Current Account to get it
    other option would be to open 2 RS with different Banks/BS or if you have a virgin branch near you could open one in branch and one online(not using the full allowance)
    that would save having to open a new current account
    • veryintrigued
    • By veryintrigued 15th Nov 17, 7:34 PM
    • 2,122 Posts
    • 1,402 Thanks
    veryintrigued
    the only RS that allows £400 pcm is the Club Lloyds Monthly Saver

    )
    Originally posted by solartom
    Nonsense.

    I can think of Yorkshire BS, N&P and Notts BS off the bat that allow up to 500.

    To the OP look here:

    http://forums.moneysavingexpert.com/showthread.php?t=608697
    • solartom
    • By solartom 15th Nov 17, 7:43 PM
    • 6 Posts
    • 2 Thanks
    solartom
    was well meant nonsense
    how do the rates compare any of them 3% or better
    • eastofeden
    • By eastofeden 15th Nov 17, 7:50 PM
    • 143 Posts
    • 92 Thanks
    eastofeden
    Kent Reliance is 3% and allows £500per month to be paid in. Depends where you are geographically of course, as it has to be opened in branch.
    • EachPenny
    • By EachPenny 15th Nov 17, 8:10 PM
    • 3,319 Posts
    • 6,146 Thanks
    EachPenny
    ....I already have current (Flex) accounts with Nationwide and their Loyalty Saver as well as some other savings and an ISA.
    Originally posted by lesleyp118
    I would also be looking to move almost everything out of the Loyalty Saver account (leaving a £1 token balance perhaps). Even with 15+ years of membership the account only pays 0.75% at present, increasing to 1% from 1 December.

    Some of the best instant access accounts are paying 1.2% rising to 1.3% or more - and they don't require you to have been a customer for 15 years to get that rate.

    Drip-feeding that money into (say) Virgin RS accounts @2.25% would give you a much better return, whilst still maintaining the ability to access the money instantly.
    "In the future, everyone will be rich for 15 minutes"
    • TheShape
    • By TheShape 15th Nov 17, 8:23 PM
    • 1,145 Posts
    • 920 Thanks
    TheShape
    Sorry if I've missed something in the article or this thread, but I'm looking for a regular savings account which allows me to save approx £400 per month. I wish to keep this separate from other savings, and I already have current (Flex) accounts with Nationwide and their Loyalty Saver as well as some other savings and an ISA.
    With the "best savings accounts" that I've seen listed, there always seems to be maximum of £250 or so per month, so they are not really what I'm looking for.
    Can anyone help please? Thanks in anticipation
    Originally posted by lesleyp118
    You don't mention whether you already have a Flexclusive Regular Saver with Nationwide. If not, it would be a good idea to start there with £250pm and find another place for the balance.
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