Regular Savings Accounts: The Best Currently Available List!

IanIan

I have now spoken to Principality BS about the Christmas Regular Saver Bond. It is only available from their branch network, which rules me out!

Special_Saver2

premierfella wrote: »

Good points on the conditions. On the last point, there is probably some comfort from their track record - they always seem to have maintained fair rates during the term and/or bonus periods on previous regular savings accounts (e.g. Regular Saver +3).

ctdctd wrote: »

Yep, they seemed fine on the last RS I had with them.

You can miss two payments and make one withdrawal per year as well which limits the exposure if the rate does go down / fail to rise.

Thanks for those comments. In the spirit of fairness, I have added those comments to my entry in post 3.

IanIan wrote: »

The Moneyfacts website (http://moneyfacts.co.uk/news/savings/principality-bs-unwraps-savings-gift211111/) says that Principality Building Society has a festive fixed rate account, called the Christmas Regular Saver Bond. Seems it will pay 5.01%. Unfortunately, I can't find any information on the Principality website.

I have now added this to post 3 too.

SS2

RobLondon1984

For the Loughborough BS Monthly Saver 2 which pay 4% gross. Does anyone know what rate it pays after October 31st 2012?

If the rate drops a lot after October 31st 2012, then it may be better to put my money every month into a variable ISA at 2.8%.

I can't find anything regarding this on there website.

Also, what monthly savings account pay the highest interest, with the condition that it has the same rate for more then 3 years. I can only find those that has a drop in interest after a year.

Thanks

adindas

RobLondon1984 wrote: »

For the Loughborough BS Monthly Saver 2 which pay 4% gross. Does anyone know what rate it pays after October 31st 2012?

I believe nobody knows about this as this is a variable interest rate

RobLondon1984 wrote: »

If the rate drops a lot after October 31st 2012, then it may be better to put my money every month into a variable ISA at 2.8%.

If the interest drop after October 31st 2012, e.g maturity and interest have been paid by then, it is easy close it move the money to another bank.

adindas

I understand that the Mturity date is 31st October 2013 base on the info on their websites:

http://www.theloughborough.co.uk/savings-at-the-loughborough/which-savings-account-is-right-for-me/longer-term-savings/monthly-saver-2/

It is a A list RSA as it pays 4%. What I am quite worry is that
1. Though it is 4%, It is a Variable rate (could change it whenever they want)
2. the maturty date is in two years

Point1 do not worry me too much as in the past although it is variable, it is common practice that it will saty the same as long as base rate of BOE remain the same.

Point 2 is quite tricky.

But I have seen there is a oophole here as
a. Interest is variable and is paid on the 31st October 2012
b. Conditions for bonus: 10 out of 12 monthly payments are must be received.
c. Only one withdrawal each account year is allowed, f the account is closed before the maturity date, the interest rate payable will be that equivalent to the rate on our Postal Accoun.

What I have seen here, although it is 2 years maturity in realtiy it is operating like 1 year maturity RSA as nothing to prent me to withdrawa it after After 31st October 2012 ?. So this will mean After 31st October 2012 after the interest + Bonus is paid. I could wthdraw it. If I am interested as the interest rate reamin attarctive,, I could still re open it again ?

Am I missing something here ?? Your opnion will be greatly appreciated ...



payment

How you guys mange with that.

Egoymer

Im looking too save about £450 a month and really dont understand all the different accounts ie top savings acc, regular saving etc.
I would also like the account to be joint with my partner, so would like an account where we would both have to sign and agree to any money going out.
Could someone please help that has something similar in place.

steady__eddie

I managed to get to a Principality branch this morning and just about opened one. Not an over the counter job but an appointment. They squeezed me in just before throwing out time, it would appear to be pretty popular.
There is a "Required Investment" in November 2012 so if anyone is fortunate enough to open one now, it is a 13 monther.

IanIan

Just spoke to Yorkshire Building Society. Tomorrow it is launching a Christmas Saver account. You can invest up to £1,200 in the account, either in a lump sum or through regular deposits. Pays 3.5% but can't access the money until 1 December 2012. I had one last year, which will mature tomorrow.

Milarky

[STRIKE]I just noticed that Lougborough's sort code (30-00-80) isn't set up for faster payments for - which is a bit disappointing to say the least since

i) it's going from my Lloyds to their Lloyd branch as a standing order
ii) they were able to bank the opening cheque I sent instantly (it left my account 'mid-day' on Monday, reducing it from the morning opening balance) because we both bank with the same organisation.

The Lloyds banking setup checks the proposed sort code against the APACS list and the standard message is advising my the payment will take two days extra if I accept.

Now, backchecking the dates of payments I've already been making to my Loughborough RS3+ account (same sort code) I can see they have actually been getting these payments two working days after other payees going out through the same Lloyds account all along!

[I really thought we had got past this by now. Still, 4% is not to be sniffed at.][/STRIKE]

Update: Good news. The sort code is now accepting Faster Payments as at 29 Dec

adindas

FYI

I just got clarifiction by phone call

My assumption as below is correct. So this is actually a good RSA that will keep you get 4% until october 2013. Given that the interest doest not change. Our experience show that BS willn ormally keep their interest unchange until maturity date, although it is a variable interest rate.

If you need that many say in February 2013 as long as you hvae not made withdrawal, you will still get 4% as long as you keep you a/c open until 2013 adn paying minimum monthly amount. So it is a actully a vey account.

So be quick before it is closed.

adindas wrote: »

I understand that the Mturity date is 31st October 2013 base on the info on their websites:

http://www.theloughborough.co.uk/savings-at-the-loughborough/which-savings-account-is-right-for-me/longer-term-savings/monthly-saver-2/

It is a A list RSA as it pays 4%. What I am quite worry is that
1. Though it is 4%, It is a Variable rate (could change it whenever they want)
2. the maturty date is in two years

Point1 do not worry me too much as in the past although it is variable, it is common practice that it will saty the same as long as base rate of BOE remain the same.

Point 2 is quite tricky.

But I have seen there is a oophole here as
a. Interest is variable and is paid on the 31st October 2012
b. Conditions for bonus: 10 out of 12 monthly payments are must be received.
c. Only one withdrawal each account year is allowed, f the account is closed before the maturity date, the interest rate payable will be that equivalent to the rate on our Postal Accoun.

What I have seen here, although it is 2 years maturity in realtiy it is operating like 1 year maturity RSA as nothing to prent me to withdrawa it after After 31st October 2012 ?. So this will mean After 31st October 2012 after the interest + Bonus is paid. I could wthdraw it. If I am interested as the interest rate reamin attarctive,, I could still re open it again ?

Am I missing something here ?? Your opnion will be greatly appreciated ...



payment

How you guys mange with that.