Regular Savings Accounts: The Best Currently Available List!

MRMX9

The Beverley BS is cutting the interest rate on its monthly saver from 2.1% to 1.6% on 1 January – although you can still invest up to £1,000 a month.

Although in informing those affected they state that the interest rate on the account is actually going up from 0.1% 0.6%.

However the conditional bonus (i.e. the bonus you get for making your monthly payments each month) is being reduced from 2% to 1%.

Nice to see a rate cut seemingly presented as a rate rise!

namecheck

A few months ago I finally got around to opening one of these for my husband - had to go into branch with (his) necessary ID and his completed form. Absolutely not possible to do this by post.

He still had to visit personally, later on, so they could verify his signature (although he has another existing account with them).

(I agree that Kent Reliance internet banking is very unlikely to be class-leading...)

Milarky

MRMX9 wrote: »

The Beverley BS is cutting the interest rate on its monthly saver from 2.1% to 1.6% on 1 January – although you can still invest up to £1,000 a month.

Although in informing those affected they state that the interest rate on the account is actually going up from 0.1% 0.6%.

However the conditional bonus (i.e. the bonus you get for making your monthly payments each month) is being reduced from 2% to 1%.

Nice to see a rate cut seemingly presented as a rate rise!

This seems to be an annual exercise, dictated by the 'fixed for 12 months' nature of the bonus rate. I got into disagreement with them when they initially proposed to cut the bonus from 3% and I ended up closing my account anyway, still in disagreement. It boiled down to my reading of their general terms which allowed for (IIRC) such a bonus rate amendment - but only with 60 days advance notice (I assume because I read the read the change as coming under 'other' -so as a non-specified change) that Beverley were relying on as only needing 30 days (as coming under 'specfied' type amendments) when writing out about the change in November/December. Because it wasn't that clear, and the most to argue over was whether they needed to give 60 days notice or 30 days I didn't pursue it.

Special_Saver2

Hi Everybody,

I have added the impending interest rate change on the Beverley BS account to my entry on the first page of this thread.

I cannot see anything else that has changed in the last week.

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

Kazza242

The Penrith Building Society Christmas Regular Saver is available from today (01/12/2014).

Though, it isn't (as yet, at the time of writing this post) up on their website, it is available. If you call them they will send out an application form for you.

It pays 4.00% and matures on 30 November 2015. You can pay in between £25 - £200 per calendar month.

The Penrith Building Society savings page.

karlie88

Kazza242 wrote: »

The Penrith Building Society Christmas Regular Saver is available from today (01/12/2014).

Though, it isn't (as yet, at the time of writing this post) up on their website, it is available. If you call them they will send out an application form for you.

It pays 4.00% and matures on 30 November 2015. You can pay in between £25 - £200 per calendar month.

The Penrith Building Society savings page.

As you say, not on their website but their PDF document has been updated to reflect the launch of the account: http://www.penrithbuildingsociety.co.uk/workspace/pdfs/savers-rates-dec-2014-v3.10.pdf

Also, is it maximum £200 or £250 per month?

Kazza242

karlie88 wrote: »

As you say, not on their website but their PDF document has been updated to reflect the launch of the account: http://www.penrithbuildingsociety.co.uk/workspace/pdfs/savers-rates-dec-2014-v3.10.pdf

Also, is it maximum £200 or £250 per month?

The Penrith adviser told me the maximum amount allowed per month was £200. I specifically queried this with her and she said that that was the information she had in front of her on the product leaflet.

Ken68

Thank you Kazza, have applied, the c.s. says tis in high demand, return forms quickly.

arsenalboy

Kazza242 wrote: »

The Penrith adviser told me the maximum amount allowed per month was £200. I specifically queried this with her and she said that that was the information she had in front of her on the product leaflet.

I have received my pack this morning and can confirm the maximum is £200 per month.

arsenalboy

patientperson wrote: »

Thank you for the post 1755 which I could follow as both Arsenal Boy and Johnmoney05 managed a postal opening. This was back in July/Aug 2012 so it may not be as easy any more.

Agreed with your view that employees should not get into any trouble but they can always say NO. I think that Branches and agencies will have targets and so it may just suit them to go ahead.

Closing an account should not be a problem and KRBS are updating their internet banking site which may simplify things.

Just to add some clarity, I can confirm that in 2012 I managed to apply by post. However, when it matured in 2013 I rang up again but they said the guidance had changed and it was restricted to branch only.