Regular Savings Accounts: The Best Currently Available List!

apt

I've just opened my third First Direct 8% Regular Saver, so they've kept the offer going for a fair time. However, I doubt they will keep it indefinitely at 8%. It was 5% before. It's not necessarily the account for everyone. Others allow you to make a penalty free withdrawal before the period is up. And although the headline rate is lower you'll earn more actual money in interest from the Derbyshire/Cheshire platinum saver because the term is longer, the maximum monthly deposit is higher and you can bring forward subsequent payments to the start of the month.

Careful_ly

The good news is that anyone who has the original Santa saver issue 1 continues on the old terms and on 5% interest.

The original Summertime saver pays 4%

Special_Saver2

Hi Everybody,

Here is this weekend's update.

- Chorley BS accounts are already in post 5
- Halifax Online Saver interest rate has dropped from 2.05%-2.35% to 1.55%-1.65% and I have removed this account from the feeder account section

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...d.php?t=608697

veryintrigued

Hi there to Special_saver2

Should the entry below be in the 'matures after 12 months' section rather than 'matures after more than 12 months' section?

Nottingham BS Celebration Saver

Interest rate: 6% gross p.a. fixed
Monthly payment: £1-£100
Miss any payments: Yes, miss as many payments as you want
Penalty-free withdrawals: No, and no withdrawals allowed at all until maturity.

psychic_teabag

Market Harborough BS Monthly SuperSaver - web page says it's not currently available to new customers.

Special_Saver2

Hi Folks,

I cannot believe it is December already!

Here is this weekend's update:

- Leek United Regular Savings account removed from list as the interest rate has dropped from 3.5% to 2.25% from 1st December 2012
- Market Harborough BS Monthly Super Saver (post 4) - I have added a note stating that as of 26th November, Market Harborough BS have temporarily stopped opening new accounts due to a recent "very high level of demand"
- Nottingham BS Celebration Saver account (matures 30th November 2013) moved from post 3 (more than 12 months until maturity) to post 7 (less than 12 months until maturity)
- Likewise, Principality BS Christmas Regular Saver Bond (Issue 2) moved from post 3 to post 7 (matures 28th/29th November 2013)

Regarding the Leek United Regular Savings account, if you are an existing account holder then you are in a tricky situation as you cannot reduce the amount you are paying in and you are now only earning 1.75% + 0.5% bonus interest. As you can probably tell from the way I write my entries on the first page of this thread, I do not like accounts where the provider can drop the interest rate and force you to keep paying in a large amount per month or lose out on your bonus interest. At least the bonus interest is only 0.5% in this case.

Once the initial deposit has been made, subsequent payments to the account must be of the same value as the initial deposit. Variations in monthly deposit amounts cannot be accepted.

If you opened the account a long time ago and you are paying in £500 per month, you might want to use your penalty-free withdrawal to remove most of your money now (leave the minimum £25 in the account) and then close the account on its anniversary (to keep your bonus interest).

If you opened your account quite recently, you might want to close the account now and forget about the bonus interest (which is only 0.5%) and you will have earned 3% interest up to the end of November.

Edit: For the benefit of anybody who has one of these accounts but does not look at this thread regularly, I have created a separate thread about the Leek United BS Regular Savings account interest rate decrease. If you want to discuss this then please post on that thread.

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...d.php?t=608697

Special_Saver2

Hi Everybody,

Here is this weekend's update.

I can only find one thing that has changed. Tesco have dropped the interest rate again on their Internet Saver (feeder account section). As of 4th December, it is only paying 2% (including introductory bonus).

My thread on the Leek United Regular Savings account seems to have been deleted. I do not know why or how that happened but I can tell you that the outcome of discussions on that thread is that Leek United have decided to honour the 3.5% interest rate for existing account holders. Although this is not currently stated on their Regular Savings account page, two MSE users were told this on the telephone and an updated interest rate leaflet would suggest this is the case.

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...d.php?t=608697

arsenalboy

Special Saver 2

your thread on Leek is still there just down a few pages. Last post was late PM on 3rd Dec.

innovate

https://forums.moneysavingexpert.com/discussion/4323443

chris1

Hi SS2

Saffron 12 month fixed Regular Saver is now available only to existing customers and their families.

HTH