Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

Here is this weekend's update.

- Buckinghamshire BS Gold Builder changed to issue 3 paying 3% and payment amount can be changed in January each year
- Scottish BS Members' Regular Saver withdrawn
- Scottish BS Regular Saver 2012 withdrawn
- Nottingham BS Celebration Saver withdrawn
- Principality BS Christmas Regular Saver Bond Issue 2 withdrawn
- Yorkshire BS Internet Saver (feeder account section) removed from the list as issue 1 has been replaced with issue 2 paying a lower interest rate of only 1.75%

I will update this thread again 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

Willing2Learn

Hi, long-time forum-lurker here (for several years). Hope I haven't misunderstood this thread but just thought I should join the forum as I think I've found an account that fits the thread criteria. So wanted to post it (hopefully haven't misunderstood - and apologies if I have). I applied at the weekend and waiting for the application pack to arrive in the mail so that I can check T&C's. Unable to post link as I'm a new (virgin) forum member.



Ulster Bank Special Interest Deposit Account

Interest rate: 3% Gross/AER (variable) on balances between £1 and £15,000 and 1.5% Gross/AER (variable) on remainder of balance above £15,000
Monthly payment: £1-£1,000
Miss any payments: Unsure
Penalty-free withdrawals: Yes. Unlimited withdrawals are permitted on the Account.
Age of applicant: 18 or over
How to open account: Branch, Online or Post
Special conditions: Maximum balance £100,000. You must set up a Standing Order to credit the Account monthly. The Standing Order must be for not less than £1 and not more than £1,000. The Standing Order can be increased or decreased within these limits.

Edit: Forgot to say that this is a "No Time Limit / Account Maturity Date" account.

weeallen

Regarding the ulster bank special deposit.. that rate is only for the the first 15k.. anything after that is 1.5%.

Handy Tip -- They limit your first deposit to 1000.00 but if you have an ulster bank current account and are set up for online banking you can transfer in from your current account to the special deposit. Theres a daily limit of 3000 but better than the 1000 monthly standing order if you have a large sum waiting to be transferred in...

innovate

This is the link: http://www.ulsterbank.co.uk/ni/personal/saving/regular-savings/sida.ashx

It is 3% Gross/AER (variable) and on balances between £1 and £15,000 1.5% Gross/AER (variable) on remainder of balance above £15,000

Not bad for up to £15K if they keep the rate for a bit. They are owned by RBS - but got their own licence, so have the full £85K FSCS protection.

T&Cs: http://www.ulsterbank.co.uk/documents/ni/personal_banking_terms_conditions.pdf
Clause 26 (page 33) is specific to this account

innovate

weeallen wrote: »

Theres a daily limit of 3000 but better than the 1000 monthly standing order if you have a large sum waiting to be transferred in...

Clause 26.11: In the event that a monthly deposit exceeds the monthly limit of £1,000, We may request You to transfer the excess funds into another account.

i.e. you can't deposit more than £1K a month

Willing2Learn

weeallen wrote: »

Regarding the ulster bank special deposit.. that rate is only for the the first 15k.. anything after that is 1.5%.

innovate wrote: »

It is 3% Gross/AER (variable) and on balances between £1 and £15,0001.5% Gross/AER (variable) on remainder of balance above £15,000

Thanks - Original post edited accordingly

psychic_teabag

The T&C say that the first standing order payment is the opening balance of the account (and must be between £1 and £1000). Yet the answers to the common questions suggest that the first payment can be by cheque (payable to self).

My preference would be to be able to open with a small cheque and then top up to £1000 electronically, but not sure if that's allowed. (The size of the SO is allowed to change.)

Perhaps we should start a separate thread for this account.

lucky77

I have just opened the Ulster account online and like you was confused by conflicting information about whether the first payment should be by cheque or standing order. I have just spoken to a helpful advisor who told me that the first payment can be made by cheque, electronic transfer from any bank (despite saying the contrary on the website) or by standing order. She advised waiting until the next day before doing any electronic transfers to allow time for the account to be set up. You can make a small initial payment and then make it up to a max of £1000 later in the month. Subsequent monthly payments should be by standing order although I believe you can vary the amount if you want to.

Willing2Learn

Another one who was :huh: by the Ulster Bank website and the same unclear and conflicting information.

I was also advised by the Ulster Bank phone rep that an electronic initial opening lodgement is acceptable. :-)

happy_with_my_lot!!

I've had one of these accounts for ages and got a letter this morning saying the rate will drop to 2.5% on first 15k (1% over 15,001) from 15 March 2013.

I opened the account with a transfer of £10k (on the advice of the local branch manager who told me to give it a try! - it worked for me with no queries!!) Standing order can be varied month to month.