Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

I cannot see anything to change for this weekend's update.

I will do another update next weekend.

SS2

---

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

Archi_Bald

Bank of Scotland Monthly Saver should be added to post # 5 - essentially the same as Lloyds and TSB monthly savers.

http://www.bankofscotland.co.uk/savings/accounts/monthly-saver/

Special_Saver2

Hi Everybody,

I have added the Bank of Scotland Monthly Saver to post 5 (same details as Lloyds and TSB counterparts). I cannot find a Halifax equivalent account.

I will do another update next weekend.

SS2

---

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

plunt

As the Lloyds regular saver requires a standing order, does that mean i could set up my standing order from an external account (such as santander)?

couldnt see anything in the T&C's but may have missed it

innovate

They want the SO from a Lloyds current account, but obviously you can feed that current account with a standing order from elsewhere.

lemonjelly

On the Nationwide reg saver, is there a maximum amount you can use to open the account? Is that also £1000? Or are you able to open it with a larger sum & then credit up to £1000 a month?

EarthBoy

It's a £1000 per month max, so if you open it with £1000 you've immediately reached your first month's limit. There's no provision for opening it with a larger sum, -I don't know of any regular saver accounts which would allow that.

plunt

the santander homesave had a loop hole regarding this...

lemonjelly

EarthBoy wrote: »

It's a £1000 per month max, so if you open it with £1000 you've immediately reached your first month's limit. There's no provision for opening it with a larger sum, -I don't know of any regular saver accounts which would allow that.

I rang their customer services this afternoon & they told me there's no limit on the opening amount (up to the £5million maximum)!

Archi_Bald

Unfortunately no financial institution is immune from clueless and misinformed CS people.

The T&Cs clearly state:

Regular Savings

In addition to the general conditions, the following conditions apply to Regular Savings. If there is a conflict between the general conditions and these Regular Savings conditions, the Regular Savings conditions will take priority.

This account is only available to those aged 11 or over.
The account can have a maximum of two joint account holders.
The minimum initial deposit and minimum balance is £1.
The maximum initial deposit in the account is £1,000.
The maximum balance in the account is £5 million.
You may only open one Regular Savings account which can be either in your own name or held jointly with someone else.

Not sure whether the following link gets you straight to the T&Cs for the Regular Saver because the Nationwide website is a bit weird. But you definitely can find these T&Cs on their website.


http://www.nationwide.co.uk/savings/legal.htm?acc=regularsavings#savingsTop