Regular Savings Accounts: The Best Currently Available List!

Gaffy

arsenalboy wrote: »

Although the information states 3%, when you go into your newly opened account it states it is 2%? Need to clarify this with them.

It's the same for both Lloyds and TSB, I assume they will update it with the correct % in due course.

Special_Saver2

Hi Everybody,

Here is this weekend's update. It is a big update thanks to the posts above and some extra information that I have found.

I see from patientperson in post 2280 that Mansfield BS product literature states that you can open 3 regular savings accounts and patientperson has been able to do so. It does not say this on their website but I will add it in to my entry. I assume that you are talking about their adult regular saver account. Do any of you know if that also applies to their childrens' regular saver account?

Regarding patientperson's post 2283, I will mention that although the interest rate is 2.79% gross AER on the Cheshire and Derbyshire BS accounts, the interest rate is 3% gross per annum and if you withdraw your funds on 31st July 2014 then is what you will have earned up to that date. (If you leave your money in that account for a full year then you will start to earn a lower interest rate after 31st July.)

Whilst I was updating this thread, I looked at the Nottingham BS account. I had a bit of a chuckle, as it looks like on their savings account page that Richard Attenborough is quite happy with his 4% regular savings ISA (with free cat) and quite surprised in the photo below that he is only earning 1% on his eSaver!

Here is this weekend's update:

- Added details to Mansfield BS regular savings accounts that you can have 3 regular savings accounts according to patientperson in post 2280

- Derbyshire BS Regular Saver (Issue 2), Cheshire BS Regular Saver (Issue 6) and Dunfermline BS Regular Saver (all paying 2.5%) withdrawn

- Nottingham BS Summer Saver and Home Saver accounts withdrawn

- Lloyds Bank and TSB Monthly Saver accounts paying 3% on up to £250 per month for 1 year with very flexible payments in and withdrawals added to post 5 as a current account is also required

- Buckinghamshire BS Chiltern Gold Builder (Issue 4) replaced with Simple Regular Saver, also paying 2.5% gross p.a. on up to £250 per month with no maturity date. There are a few differences with the new Simple account compared to the Gold Builder regular savers. They still have the rule that the amount you deposit each month is fixed. With the Gold Builder accounts you could change this in January each year; with the Simple regular saver accounts you can change this once per year at any time you decide (but the payments must then stay fixed for the rest of the calendar year). Children aged 7 or older can open a Simple regular saver account but they must operate the account themselves (an adult is not allowed to operate it for them). As before, transfers cannot be made from another account with Buckingahmshire BS. Only one "Simple Regular Saver" account of any issue is allowed. Presumably this means that people with a Gold Builder regular saver account can now also open a Simple Regular Saver account. Cannot be opened as a joint account. As far as I can see, the only geographical restriction is that you have to be a UK resident and applications are by post. For a "simple" account, it is not very simple!

- Dunfermline BS Platinum Monthly Saver (Issue 2) withdrawn and replaced with issue 3. Issue 2 had a maturity date of 12 months from opening. Issue 3 will mature on 31st July 2014 and therefore has an interest rate of 3% gross pa with AER of 2.79% as already explained earlier in this post for the corresponding Chesire and Derbyshire BS accounts. I have now moved the Dunfermline account from post 4 to post 7

- Cambridge BS Regular Saver Bond issue 2 replaced with issue 3. Issue 3 includes a fixed 2.95% bonus interest rate (very handy in a climate of dropping interest rates!) and the overall interest rate remains 3.05% on up to £250 per month for 1 year. You cannot open an issue 3 account in addition to an issue 2 account unfortunately. No geographical restrictions and can be opened by freepost, telephone or in branch.

- Updated the feeder account section as Lloyds TSB have split up; there is one entry for the Lloyds Bank current account with Vantage option paying up to 3% and the TSB current account with Enhance option paying the same

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

Vortigern

Special_Saver2 wrote: »

MoneySaverLog reports in post 1879 that the interest rate will be increased to 4% on 10th September on balances from £5,000 to £6,000

Special_Saver2: Above quote from post #9 in this thread is now out of date. 4% was available from 10th September 2012 and expires 31st October 2013 for those who have it.

Keep up the good work!

someone

Special_Saver2 wrote: »

- Lloyds Bank and TSB Monthly Saver accounts paying 3% on up to £250 per month for 1 year with very flexible payments in and withdrawals added to post 5 as a current account is also required

The Lloyds link should be http://www.lloydsbank.com/savings/monthly-saver.asp (the current one is going to TSB!

patientperson

Kazza242 wrote: »

I opened both the Nottingham BS 5.00% Summer Saver and their 3.10% regular saver earlier this month. I was not a member of the building society at the time and I don't live anywhere near Nottingham.

I decided to apply and see if they would accept my applications and they did.:)

Congratulations on this one. I was told that I had to go into a branch to open them. How did you manage it? .. by post?.

patientperson

Special_Saver2 wrote: »

I see from patientperson in post 2280 that Mansfield BS product literature states that you can open 3 regular savings accounts and patientperson has been able to do so. It does not say this on their website but I will add it in to my entry. I assume that you are talking about their adult regular saver account. Do any of you know if that also applies to their childrens' regular saver account?

Yes to the adult .. I have no knowledge of the children's accounts.

Special_Saver2 wrote: »

- Buckinghamshire BS Chiltern Gold Builder (Issue 4) replaced with Simple Regular Saver, also paying 2.5% gross p.a. on up to £250 per month with no maturity date. There are a few differences with the new Simple account compared to the Gold Builder regular savers. They still have the rule that the amount you deposit each month is fixed. With the Gold Builder accounts you could change this in January each year; with the Simple regular saver accounts you can change this once per year at any time you decide (but the payments must then stay fixed for the rest of the calendar year).

I agree that what you state for the Simple Saver is what I also read prior to opening it but I asked about the 'change at any time you decide'. This turns out not to be quite correct. I started with a question .. I would invest month 1 £250 then change month 2 onwards .. NO is the answer.

The written answer I then received was ' you are committing to save 12 payments at the level of the initial payment. After 12 payments .. then you can change the amount.

Kazza242

arsenalboy wrote: »

I have just opened one of these as I already bank with LLoyds. Took about 30 seconds to do but note the following point.

Although the information states 3%, when you go into your newly opened account it states it is 2%? Need to clarify this with them.

I opened the Lloyds Bank monthly saver online this morning, as I hold Vantage current accounts with them. I also noticed that 2% appeared when I clicked into the account online.

I clarified this with them over the phone. They said that because the new site launched only today (22/09/13) there was a glitch which prevented the correct rate from being shown. They said it would be updated overnight and that customers should check via online banking tomorrow.

patientperson wrote: »

Congratulations on this one. I was told that I had to go into a branch to open them. How did you manage it? .. by post?.

I opened the Nottingham BS regular savers by post. I supplied all of the ID documents and sent my application to their head office address. Sometimes it's worth putting in a cheeky application.

Special_Saver2

Hi Folks,

Thanks for the extra information.

I have further updated the first page on this thread.

- Fixed the link to the Lloyds Bank Monthly Saver
- Removed out of date info pointed out by Vortigern that was in post 9
- Added the info on the Mansfield BS accounts to specify that we are sure you can open 3 adult accounts but we do not know about the children's regular savings account
- Added to the Nottingham BS account entry that Kazza242 managed to open one by post via head office
- Added to the Buckinghamshire BS Simple Regular Saver that in addition to the terms and conditions on their website, patientperson has had a written repsonse stating they will not accept a change to the monthly deposit amount until 12 payments have been made

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

patientperson

Kazza242 wrote: »

I opened the Nottingham BS regular savers by post. I supplied all of the ID documents and sent my application to their head office address. Sometimes it's worth putting in a cheeky application.

I have been in touch with Notts BS to try to open their regular saver and their official line is still that nobody can open these accounts by post .. strange response but true. It was the Summer Saver at 5% which was interesting whilst the regular saver would have been a added bonus.:(

drlabman

As a TSB customer I was able to set up a monthly saver online and it only took seconds. It shows up in the list of accounts but I can't seem to transfer money to it from one of my TSB current account because it doesn't appear in the "to here" list. Anyone managed to do this? Maybe I need to wait until tomorrow.