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Regular Savings Accounts: The Best Currently Available List!

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  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    mary wrote: »
    I'm afraid you are incorrect. I've just phoned them and the 5K has to go into the Premier Account with an interest rate of 1%
    Oh dear, that's a 'Fail' then!
    .....under construction.... COVID is a [discontinued] scam
  • dougz_2
    dougz_2 Posts: 523 Forumite
    Part of the Furniture Combo Breaker
    edited 8 February 2012 at 8:19PM
    Their website says if you live in Wales the Premier Account can be held with only £500 instead of £5k, but you only get 0.1% on that.

    It appears you still need the Premier, as its the only way to receive the monthly interest from the Regular Saver, or the annual balance transfer from it. Overall that equates to less than 3.5% AER variable on the £3750 average total balance. Barely a tenner more than a decent instant access.
  • From my personal experience of trying to obtain a little bit more interest from my savings, and from reading this thread, I just have to ask this of the banks -"are you 'avin' a laugh?" They make you jump through hoops to get an extra 1/4% interest (but only for 12 months because too much is not good for you), insist on your inside leg measurement, "for anti money laundering purposes, and then say you can't open an account because you don't live in the same street as the CEO! They really do have us by the s&c's, and then go laughing all the way back to the second home in the country (usually Italy). Trouble is there is little alternative. I am trying a couple of Peer to Peer sites but as of yet the UK Government, who profess to wanting to see more investment in UK industry only want to bail out the high street banks when they get it wrong and not the P2P lending sites.
  • Chadsman
    Chadsman Posts: 1,113 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I was put off person to person lending sites when a relative of mine told me he had borrowed from one but didnt stand a cat in Hull's chance of being able to repay it. I am currently getting a guaranteed rate 5% AER on five of my regular savings accounts with absolutely no risk whatsoever to any of the capital and two of those accounts offer instant access.
    I dont see that filling a form with my name and address and arranging an electronic payment to the account is a particularly difficult hoop through which to jump.
    Each to their own.
    God save the King!
    I'll save Winston Churchill, Jane Austen, J. M. W. Turner and Alan Turing.
  • Chadsman
    Chadsman Posts: 1,113 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    From eMoneyfacts...
    https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=212942
    SPECIAL EDITION REGULAR SAVER: 5.00% fixed yearly for 1 year; branch operated; no earlier access; monthly deposits can be varied and multiple payments allowed; min monthly investment £0, max £250; new money to the institution.


    ...and here is the Skipton website for the account http://www.skipton.co.uk/savings_and_investments/savings_accounts/special_edition_regular_saver/
    God save the King!
    I'll save Winston Churchill, Jane Austen, J. M. W. Turner and Alan Turing.
  • IanIan
    IanIan Posts: 70 Forumite
    This can only be opened in the branch. Just spoke to Holborn branch who say that an appointment must be made, can't just turn up and open the account! I have therefore made an appointment! Only one account per person.
  • SnowMan
    SnowMan Posts: 3,679 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Opened a Skipton special edition regular saver at a branch in Cumbria with the minimum of fuss in 5 minutes (no appointment required). So need for an appointment depends on the branch.

    A nice feature is the ability to close the account and get accrued interest up to date of closure, so there is penalty free access in an emergency. The branch couldn't actually confirm it was 5% accrued up to date of closure but I think it has to be reading the terms. Of course you can't make withdrawals, the option is just to completely close the account.
    I came, I saw, I melted
  • Hi Folks,

    Thanks a lot for the posts above. I do not have enough time right now to do it but I will add the Swansea and Skipton accounts to the first page and make any other changes later this week.

    I see that the Skipton account was flagged up via emoneyfacts. I will be sad when free access to emoneyfacts disappears (as discussed in another thread).

    SS2
  • Thanks for shared great idea about how to saving money with used of saving account...Interesting post and also useful post..!!!
  • Having looked on Skipton's website, this new regular saver replaces the one I've currently got, hopefully it will be still going when my one ends!
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