Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Everybody,

Here is this weekend's update.

- Cheshire, Derbyshire, Dunfermline BS Monthly Savers have all launched new issues with the same interest rate as the previous issue; the only change is that the interest rate anniversary has changed from 31/05/11 to 31/07/11 for the new issues
- A&L Premier Regular Saver has disappeared (replaced with the similar Santander Super Fixed Rate Monthly Saver)
- Northern Rock have launched their regular saver issue 2 account. The interest rate is not quite good enough for it to qualify for inclusion on this thread but here are the details (copied from emoneyfacts) for anybody who is interested.

REGULAR SAVER Issue 2 launched w.e.f. 7.7.10: an instant access branch based regular savings account maturing 1.9.11 with a minimum monthly investment of £1 (maximum £250) paying 2.75% fixed yearly. Unlimited withdrawals permitted. Monthly payments can be amended or missed without penalty. Further additions permitted up to monthly maximums. Maximum investment £3,500.

I will do another update next weekend.

SS2

Special_Saver2

Hi Folks,

I have checked through everything but I cannot find anything that has changed.

I will do another update next weekend.

SS2

Careful_ly

Hi Special_saver2

There has been a new account released this week from Saffron building society, it pays 4% fixed and allows unlimited withdrawals, I haven't seen it mentioned by anyone yet, and came across it only yesterday by accident.
http://www.saffronbs.co.uk/savings/display.product.php?categoryID=1&category=general&productID=g2

It says funding by cash, cheque or direct debit, but think the dd part is probably wrong, as asks for no bank details on the application form. I had a regular saver Isa with them last tax year and sent the payments by faster payment each month manually.

See post 1088 below re funding

HTH

Special_Saver2

I have now added the account mentioned by Careful_ly (well spotted, thanks!) and reported two spam posts.

SS2

ESKIMO

Word of caution:

I was contacted by RBS informing me that they are going to drop the basic current account to 0%.

Thought the letter may be a joke, however contacting my branch office this evening confirmed it.

I don't wish to cause mass panic but something she mentioned about others also following suit was slightly unnerving. I did ask if the lassie i was talking to if she could elabourate and she said that other providers already had or were in the process of reverting to 0%.

Just curious to know if anyone has heard of anything similar. Sounds puzzling.

Regards.

Mikeyorks

ESKIMO wrote: »

Word of caution:

I was contacted by RBS informing me that they are going to drop the basic current account to 0%.

As the standard current account only pays 0.1% ...... it won't have far to drop and is unlikely to cause mass panic. In particular as you're posting on a thread clearly dedicated to Regular Saver accounts?

Careful_ly

Have telephoned Saffron re the funding of this regular saver, they are taking payment by direct debit on this account, as they say they had trouble with the Isa regular saver they ran last tax year with people not completing the standing order correctly. Everyone has the same account number and sort code, so if you don't complete the reference they don't know which persons account to credit.

They can vary the amount of the direct debit if you phone to request the change, but need 17 days notice !

I asked if funding was possible by standing order and they said that could be arranged, if they agree to standing order then you can just make manual FP.

premierfella

Thanks Careful_ly. I opened my account in Stratford last week and assumed that standing order payments would be fine as I wasn't given a direct debit mandate.

I will now drop them an email and check they are happy with my standing order arrangement.

Saffron_Team

Hi Premierfella
I work for Saffron Building Society. You may have already called in, but if not, I thought I would update you here. You can pay in by Standing Order. Just make sure you quote the correct reference number on the payment.
Thanks!

Saffron_Team

Hi Careful_ly
I work for Saffron Building Society. Thank you for mentioning our Regular Saver account. You can pay by direct debit if you want to. Standing Order is also possible, just ensure you quote the correct reference number on your payment.

Not all our accounts accept direct debit which is why the applicaiton form doesn't mention it. We're now going to have a look to see if we can make the DD option clearer. Thanks again.