Regular Savings Accounts: The Best Currently Available List!

Happychappy

I see Bradford and Bingley have just dropped their Esaver Internet account issue 2 from 6.25% to 6% from 4th May ?

Special_Saver2

Okay Dagobert, I have gone back into my little online archive and dug out the deleted files. I have re-posted them below. I think these are all the files that I deleted.

I am keeping an eye on the situation, especially regarding the accounts that were in post 2 (and have kept copies of their entries in my little archive). I can imagine the Yorkshire BS Regular Saver returning into that post some day if the rates on the best non-regular savings accounts start dropping. I will keep the situation under review.

No Time Limit / Account Maturity Date

Yorkshire BS Regular Saver

Interest rate: 6.35% gross p.a. variable from 27th April 2008 (updated, was 6.6% before)
Monthly payment: £10-500
Miss any payments: Can miss one per year
Penalty-free withdrawals: One per year (note this thread on new rules regarding the anniversary date)
How to open account: Branch or by post
Special conditions: Limit of £20,000 (but you can always slow down your contributions when you are getting close to this)

Scarborough BS My Savings

Interest rate: 6% gross p.a.variable from 1st May 2008 (updated, was 6.25% before)
Monthly payment: £10-250
Miss any payments: Can miss two per year
Penalty-free withdrawals: One per year
How to open and operate account: Branch or by post
Special conditions: Limit of £15,000 (but you can always slow down your contributions when you are getting close to this)

Nationwide BS Regular Saver

Interest rate: 6% gross p.a. variable from 1st May 2008 (updated, was 6.25% before), with an interest rate guarantee of Bank of England base rate + 1% until 1st January 2010
Monthly payment: £200-250 (lower interest rates apply if you pay in less)
Miss any payments: Yes, but only get 4.5% in months that you make no payment
Penalty-free withdrawals: No – only get 4.5% in months where you withdraw more than you pay in
How to open account: Branch, post or online
Special conditions: Comes with a cash machine card. You can pay in money by standing order, transfer from another Nationwide account using online banking, or pay in cash using a Nationwide cash machine (but not over the counter in a branch)

Monmouthshire BS Saver Plus

Interest rate: 5.9% gross p.a. variable from 1st May 2008 (updated, was 6.15% before)
Monthly payment: £20-1,000
Miss any payments: No
Penalty-free withdrawals: One per year
How to open account: In branch or by post
Special conditions: Monthly payments must be made by direct debit.

Monmouthshire BS Christmas Saver

Interest rate: 5.9% gross p.a. variable from 1st May 2008 (updated, was 6.15% before)
Monthly payment: £1-250
Miss any payments: No
Penalty-free withdrawals: Unlimited during December and January without penalty; a withdrawal at any other time must be to close the account (with interest paid at 3% less than the above rate)
How to open account: In branch or by post
Special conditions: Monthly payments can be made by direct debit, or by paying in cash or cheque at a branch. Interest paid on 30th November.

Matures After 12 Months

Skipton BS Special Saver

Interest rate: 6.80% gross p.a. variable from 2nd May 2008 (updated, was 7.05%)
Monthly payment: £10-250
Miss any payments: No
Penalty-free withdrawals: No early withdrawals but can close the account early without penalty
How to open account: Branch or post
Special conditions: After 12 months transfers to an instant access account. You can open up to 3 of these accounts.

Matures After Less Than 12 Months

Skipton BS Christmas Saver Issue 2

Interest rate: 6.80% gross p.a. variable from 2nd May 2008 (updated, was 7.05%, AER depends on when you open the account as it matures 01/11/07)
Monthly payment: £10-250
Miss any payments: No
Penalty-free withdrawals: No early withdrawals but can close the account early without penalty
How to open account: Branch or post
Special conditions: Matures 25/11/08 when it then transfers to an instant access account.

Homebuyer Accounts

Yorkshire BS First Time Buyer Account

Interest rate: 6.08% p.a. gross variable / 6.25% AER from 27th April 2008 (updated, was 6.31% / 6.5% before)
Monthly payment: At least £100 per month, can save as much as you wish, maximum £50,000
Miss any payments: As many as you wish
Penalty-free withdrawals: Not sure!
How to open account: In branch or by post
Special conditions: If you are an individual who is resident in the UK and have never been party to a mortgage, you can apply for a First Time Buyer savings account to be opened in your name or as a joint account (maximum of 4 account holders). Accounts cannot be held in trust. When opening an account in joint names, at least one of the account holders must have never been party to a mortgage. To receive the bonus interest and cashback all account holders must be parties to the Yorkshire Building Society mortgage applied for. The minimum age for a Yorkshire Building Society mortgage is 18, although you can start saving for your deposit before then.
£100 Cashback available - To qualify for the £100 cashback on completion of your Yorkshire Building Society mortgage, you must make at least 3 consecutive monthly contributions of £100 or more in to your First Time Buyer savings account before you apply for your mortgage.

Ipswich BS Homebuyer Savings Account (Three Year Savings Account)

Interest rate: 6% gross p.a. variable from 17th April 2008 (updated, was 6.25% gross p.a. fbefore) with an interest rate guarantee of Bank of England base rate + 1% for 3 years from date of opening
Monthly payment: Save a total of £250 to £25,000
Miss any payments: Yes, miss as many as you wish
Penalty-free withdrawals: No withdrawals or closure within first 6 months. Closure penalty of 120 days' interest unless you take out a mortgage with Ipswich BS.
How to open account: In branch or by post (by sending forms to a branch)
Special conditions: Intended for people who are saving to buy a house. Ipswich BS can convert your account into an instant access account if they do not believe you are using the account for this purpose.


I also had a little section on the new West Bromwich BS Midland Super Saver Account which I cannot find now but it is essentially an account which matures after 12 months and only pays 6.75%.

gt94sss2

Special_Saver2 wrote: »

- restored HSBC Regular Saver account as it appears that it is still available for some account holders (retrieved the details from my archive file!)

Yes, I can confirm this is the case - my dad opened a 10% regular saver account the other week with HSBC.

Regards
Sunil

mary

see https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=170972

Special_Saver2

Hi everybody,

Have updated the first posts of this thread as follows:

- Chorley BS Santa Saver down 0.25% to 8.25%
- BMW Car Saver down 0.25% to 7% from tomorrow (according to https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=171073 )

All the best,
SS2

Speculator

JenHen wrote: »

Not sure why this has slipped off the MSE radar, to my mind it's the best rate currently available if you want to pay in over £250 every month (they will take up to £500 per month)

see post #4

Special_Saver2

Hi everybody,

Nothing much has changed since last week. The only change I have made is to remove the "updated" markers and old interest rates as I think all the financial institutions have finished changing their rates.

SS2

worried3

hi, i found this regular saver
the only problem i can see is it is not covered by the fscs i know nothing about the isle of man scheme does anybody here?

http://www.halifax-international.com/Savings/regular-saver.asp

7% fixed, deposit up to £2000 per month

"Deposits are not covered by the Financial Services
Compensation Scheme under the Financial Services
and Markets Act 2000 of the United Kingdom.
We participate in the Depositors Compensation Scheme
contained in the Banking Business (Compensation
of Depositors) Regulations 1991 of the Isle of Man,

as amended."

Baldur

worried3 wrote: »

hi, i found this regular saver
the only problem i can see is it is not covered by the fscs i know nothing about the isle of man scheme does anybody here?

See Isle of Man’s Depositors’ Compensation Scheme.

LittleVoice

Deposits are protected up to 75% of the first £20,000 per depositor.

Compensation is not available for deposits which had an original term to maturity of more than five years.