Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

I cannot find anything that has changed for this weekend's update.

Sorry bob792, I do not know the answer to your question but if you find out then post the answer on this thread and I can add the information to my entry on the first page.

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/...=608697&page=1

Barney1954

Hi bob792
I've managed to open Issue 1 and Issue 2

bob792

Barney1954 wrote: »

Hi bob792
I've managed to open Issue 1 and Issue 2

Many thanks, Barney1954. For £1 a month it's a good insurance policy, I'll give it a go. 2.57% AER is getting a bit hard to find now.

Archi_Bald

bob792 wrote: »

2.57% AER is getting a bit hard to find now.

You need to reallly compare the rate of this account with other regular savings accounts, such as the ones from FD (6%), HSBC (4%), KRBS (4%) and Lloyds (4%), and then there's a whole raft of 3ish% ones. Although most of these do have some withdrawal restrictions, and some are only available in small areas.

liamcov

If I already have a Lloyds monthly saver 4% can I open another joint one?

adindas

Barney1954 wrote: »

Hi bob792
I've managed to open Issue 1 and Issue 2

I understand that issue 1 pay 3% and you could put up to £1250 monthly ...
I fail to see why people need to open the second one where there are reasonable number of current account offer this rate .....

Could the payment is done by DD e.g to be used it as a source of DD to meet other account requirement ??

bristolleedsfan

adindas wrote: »

I understand that issue 1 pay 3% and you could put up to £1250 monthly ...
I fail to see why people need to open the second one where there are reasonable number of current account offer this rate .....

Maybe some of us have all the higher paying current accounts etc etc etc and have excess savings looking for a higher rate

bristolleedsfan

And on that note, for those who have both exhausted higher paying options discussed on these boards and have excess savings looking for a higher rate.

Nationwide :rotfl:Save to Buy Issue 2 - 2% - possible to deposit a lump sum of up to 18500+ into it and then pay required number of 50.00 a month deposits into it for up to 3 years.

Maximum 20000 in total -

Withdrawal only on account closure

http://www.nationwide.co.uk/products/savings/save-to-buy/features-and-benefits

Being as Issue 1 pays a higher rate, Nationwide are IMHO more likely to close Issue 2 and launch Issue 3 at a lower rate than reduce rate on Issue 2

Many of us fulfil the First time buyer and Home Mover criteria

bob792

bob792 wrote: »

Many thanks, Barney1954. For £1 a month it's a good insurance policy, I'll give it a go. 2.57% AER is getting a bit hard to find now.

That seems to have worked. Opened the account yesterday and it has shown up online today ready for business.

For those speculating why anyone would want to have this account, I only said I wanted it as an insurance policy. A £1 STO keeps it alive (DDR facility is being withdrawn) and it will take any number of deposits by FP up to £1,250/month in total. If I get dividend payments that need parking, I can use it if I haven't anything better.

3% options are getting leaner. Lloyds Vantage 3% went on 2 July. The 3% monthly savers from Lloyds and TSB, that they issued with the launch of TSB, mature this month and TSB Enhance goes from 3% to 1.5% on 4 Nov. Nationwide are dropping rates, according to another thread. Who knows if there is more to come?

Archi_Bald

bob792 wrote: »

Opened the account yesterday and it has shown up online today ready for business.

Same here, issue 2 of the Big Home Saver is now showing alongside my issue 1. I have just sent my first test payment of £1 (not arrived yet), and will top it up to the max if they let me keep it.