Regular Savings Accounts: The Best Currently Available List!

apt

Why would the Sunday Times want to do a story on multiple regular savers? Their heyday was a couple of years ago when it was obvious that interest rates were tumbling and regular savers were a way of getting a high fixed rate for money you intended to save over the following year. Today the extra interest you can gain from multiple regular savers is insignificant.

RayWolfe

Why is MSE pimping for the Sunday Times?
We should be told!

Chadsman

I have several regular saver accounts with Yorkshire paying 3.75%, Chorley paying 5%, West Brom paying 6%, Stoud and Swindon paying 4.5%, Buckinghamshire paying 5.75% and Principality paying 4.5%.
I reckon the average rate is around 5%.
The best one year fixed rate account I can find pays 3.3% and the best easy access account pays 3%. IMHO my regular savers give me a significantly better rate than I would otherwise get.
Even after tax I am still getting a better rate than I would get in an ISA.
...but I am too busy to get in the papers at the moment.

apt

Yes, but several of those rates are no longer available. And as 4% is available on up to £21,000 via Lloyds Vantage, that's really the figure you should be comparing the regular saver rates to, rather than 3%.

dougz_2

But the Vantage rate staying high up there on its own is not really as dependable as having a bunch of these is it?

Chadsman

5% is still better than 4% and you can only get that at Lloyds on balances up to £7000

apt

The amount you can put into Lloyds Vantage (three accounts each with £7,000) is far higher than you can put in the great majority of regular savers. The only stand alone regular saver open to new savers which has an interest rate of 5% allows you to save the massive sum of £1,300.

Chadsman

The BoE base rate has been 0.5% for a year now. In that time I have opened the Buckinghamshire, West Brom, Stroud & Swindon and Principality accounts. I have also continued to pay into a Chorley Santa Saver (which is still open to new customers as is the S&S regular saver). They all pay at least 4.5%.
Each to their own.
You pays your money, you takes your pick!

welshmoneylover

apt wrote: »

The only stand alone regular saver open to new savers which has an interest rate of 5% allows you to save the massive sum of £1,300.

What account is that then?

welshmoneylover

Just had a look at the Chorley Santa Saver and its only available by post/branch so no good for me then