Regular Savings Accounts: The Best Currently Available List!

johnmoney05

The Yorkshire BS, Barnsley BS and Chelsea BS Christmas savers offer only 3.5%. And AA 1 Year Fixed Rate Savings is offering 3.6%. If you are thinking to deposit for a lump sum, AA is better choice.

adindas

Do not close it as long as they still pay 4% interest and you do not need it.

You will not find a better deal like this as your invested money that you hvae put since last year say 12*£500 = £6000 still earn 4% plus addtional top up that you will do each month. So it is a very good product ....

Frogletina wrote: »

I still have this account and would not think of closing it. So many regular saver accounts do have a fixed term and you cannot amend the payment. If you find a higher paying one, I would suggest keeping this open with the minimum payment.

Special_Saver2

Hi Folks,

I cannot find any changes since the last update for this thread. I will do another update next weekend.

SS2

davidanddeirdre

Afahmaep wrote: »

This is a list of how my use of Regular Saver Accounts is producing pretty favourable returns. This will be the state of play by mid December. Twenty nine (29) currently on the go earning about 7.40% GROSS on a £55,700 total with £8350 deposited in December. The Monmouthshire BS at the bottom will probably be emptied down to £250 (I won't close it as it is a carpetbagging account) if a 7% Bond comes along.
I also hope to grab the 10% Abbey Saver in December as I recently opened an Abbey 8% Current Account (used as one of my RS feeders) and possibly the First Direct 8% but I don't have high hopes as I already have the HSBC one.
For those who are wondering how these are funded the answer is in maturing Regular Savers combined with my modest wages.
In December I have a Derbyshire RS maturing (£3000 plus interest) and also the Ipswich RS2 (£3250 plus interest). This money (£6250 plus interest) will be used towards the January payments (estimated to be £7500).
Likewise in January I have an Abbey RS £3000 and Yorkshire BS £3600 maturing (£6600 plus interest) to be used towards for the February payments, (again estimated to be £7500).
Now the Estimated Interest column is what I use to show the overall gain if all the money was allowed to stay in for a WHOLE year. The money doesn't stay in for the WHOLE year as it is DRIP-FED in. but does give a very accurate snapshot of what the money is earning WHILE IT IS IN A REGULAR SAVER. This is the method I use to work out the overall percentage of all the Regular Savers combined.
[html] DECEMBER 2007
Current Monthly Estimated
RATE BS/BANK Holding Deposit Interest
1 8.25% Loughborough £2500 £250 £206.25
1 8.10% West Brom £3000 £1000 £243.00
1 8.00% Lloyds £5000 £250 £400.00
1 8.00% HSBC £1750 £250 £140.00
1 8.00% Chorley £2250 £250 £180.00
1 7.60% Ipswich RS2 £3250 £250 £228.00 (13 payments permitted)
8 7.55% Skipton £6000 £2000 £453.00 (7 Specials and 1 Xmas Saver)
1 7.50% Britannia RS2 £500 £250 £37.50
1 7.50% Chorley Gall £250 £250 £18.75
1 7.50% Leek £2750 £250 £206.25
2 7.25% Abbey 6&7 £3500 £500 £253.75
2 7.15% Ipswich RS3 £4000 £500 £286.00
1 7.10% Yorkshire BS £8200 £500 £582.30
1 7.05% Yorkshire BS £3600 £100 £253.80 (3yr. Mine matures Jan 2008)
1 7.00% Bath BS £3750 £250 £192.50
1 7.00% Principality £1000 £500 £70.00
1 7.00% Halifax £500 £250 £35.00 (now in 4th year)
1 6.80% Scarborough £1500 £250 £102.00 (was £6K. Withdrew £5K )
1 6.75% Nationwide £1750 £250 £118.13
1 6.70% Monmouthshire £2800 £250 £187.60
29 7.40% £55700 £8350 £4263.73
[/html]

I'm totally impressed with this, (who needs ISAs?,) but it must take a lot of time in keeping on top of availability of well paying accounts and filling in applications.

ctdctd

davidanddeirdre wrote: »

I'm totally impressed with this, (who needs ISAs?,) but it must take a lot of time in keeping on top of availability of well paying accounts and filling in applications.

That's 2007 - those glory days are long gone

davidanddeirdre

ctdctd wrote: »

That's 2007 - those glory days are long gone

Sorry. What I didn't realise was when I did the search I was being sent to the oldest part of the forum first. Why does MSE do that?

Gromitt

By default it ignores the data and just searches.

If your after anything in the last year (say), then its upto you to put that on the search form. Where it says "Forum search" click that and then click "Advanced search", on that page click "Any date" and select "6 months ago" or whatever.

adindas

If you open your Regular saver account (traditional with pass book) december last year and already mature, it is time now to close it. As the interest has now dropped to 1.85% (include 1.5%) , it is no more attractive.

After emptying your saving account, you need to close it by writing to them and enclose your pass book..

After closure is confirmed open again a new RSA and your clock will start again to earn fixed rate 4% for a year.

Careful_ly

adindas wrote: »

If you open your Regular saver account (traditional with pass book) december last year and already mature, it is time now to close it. As the interest has now dropped to 1.85% (include 1.5%) , it is no more attractive.

After emptying your saving account, you need to close it by writing to them and enclose your pass book..

After closure is confirmed open again a new RSA and your clock will start again to earn fixed rate 4% for a year.

Have you actually done this?

As my understanding of their regular savings accounts was that you could only have one of each issue ever.

ctdctd

Indeed - from the Norwich & Peterborough FAQ for the Regular Saver

"Can I open more than one Account? Only one Regular Saver account can be opened per customer throughout the life of the product, so you may hold either a joint or sole account but not both. You cannot open a new Regular Saver after the fixed rate period has ended."

http://www.nandp.co.uk/savings/regular-savings/regular-saver/