Regular Savings Accounts: The Best Currently Available List!

colsten

Steve_xx wrote: »

That's just what Mark Carney wants you to do!

True, Mark Carney will probably have fifty different ways to make me spend my (and his) money. My most favourite one is that he will want to help me run in the new car (never mind cars don't need running in these days), hood down (did I mention it is a convertible), and I will have him as a passenger as long as he pays for the petrol, the hotels and the meals.

Now how do I translate this into picking the best account for my cash.

ScarletBea

ab56 wrote: »

Nationwide Regular Saver
Received letter that they are reducing from 2.5% gross p.a to 2.0% gross p.a where monthly increase in balance is £500-£1000 with effect from 1st April 2015.

Oh
I've just opened one (still in the process) because my instant savings account is going from 2% to 1.5% from mid March, and I wanted to have a bit more...
Still, 2% on Nationwide is still better than the 1.5% I'll be getting, so still worth it.

Special_Saver2

Hi Everybody,

Here is this weekend's update.

- Nationwide BS Regular Savings account entry updated to show new lower interest rate of 2% on £500-£1,000 per month from 1st April

- Monmouthshire BS Saver Plus (Issue 2) entry in post 2 updated to show this account is currently only available to local people and existing customers

- Nottingham BS Robin Hood Young Saver (Issue 2) withdrawn and replaced with issue 3 that is almost identical except that it matures on 28th February 2017 (instead of on the child's 17th birthday); post 3 updated accordingly

- Market Harborough BS Monthly Super Saver (Issue 3) removed from post 4 as the interest rate has dropped from 2% for the first 12 months to 1.6%

- Prinicipality BS Regular Saver Bond (Issue 14) withdrawn and replaced with identical issue 15 paying 2% on up to £500 per month for 12 months; post 4 updated accordingly

I am not sure why Principality BS has replaced their issue 14 Regular Saver Bond with an identical issue 15. The terms and conditions state that only one Bond can be opened per person. If this means that people can open one account per issue then perhaps Prinicipality BS realise that each new issue will mean that certain existing customers will open a new account so they can deposit more than £500 per month.

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

ctdctd

I thought the Principality issue 15 @ 2% had been there for ages?

Anyway, got a letter today from the Monmouthshire - the Saver Plus issue 2 rate is going down to 0.85% + 1% bonus from March 11th.

However, they are now allowing it to be funded by any means - not just DD.

MARTYM8`

Quick question for those with maturing Leeds BS Issue 2 regular saver accounts this weekend.

The capital bonus for the year is being paid on 1 March (i.e. tomorrow). Then from 1 to 3 March its still held in the regular saver 2 before being moved to the instant access account paying 0.85% on 3rd.

I am assuming therefore that I can simply withdraw my funds entirely on Monday (2nd) - and all I lose then is the 3% interest for one day and that is it? Is that correct.

Monday is better for me withdrawal wise as the cheque will clear sooner and I can move most of the funds to my high interest current accounts by the end of the week.

PS Having updated my passbook this week they have already paid the interest due on 1 March into your book - subject to you not closing your account before tomorrow.

Steve_xx

Monmouthshire Building Society is reducing its interest rate on the Saver Plus (Issue 2) account by 0.25% from 11 March 2015. There is a fixed bonus of 1.00% on this account and this remains unchanged.

They are changing how you are allowed to fund the account from 1 April. Currently it has to be by dd mandate on the same date each month and the amount is not variable. From 1 April you can pay into it by any means and you will be able to vary the amount. The amount has to be between £20 and £1000 per month.

Therefore the new rate with the bonus would be 1.85%.

Here's a link to the account: http://www.monbs.com/saver-plus-issue-20305/

MARTYM8`

Just another interest rate reduction update.

From 11 March Monmouthshire BS are reducing the rate on their saver plus issue 2 account. It seems the standard interest rate (excluding the 1% bonus for meeting the terms and conditions i.e. only one withdrawal and 12 payments made) is being cut from 1.1% to 0.85%. So the total rate payable will be 0.25% less i.e. 1.85% including the bonus.

The letter however says the interest rate will be 0.85% - and the reference to the bonus is added two paragraphs down. So at first glance you might well assume the rate is now only 0.85% vs 2.1% previously. Lets just say the letter could possibly have been better written!

They are are allowing people to vary the amounts paid in monthly (£20 to £1000) and you don't have to pay by direct debit anymore if you don't want to (i.e. bank transfers/standing orders will now be possible).

The current rates are here

http://www.monbs.com/saver-plus-issue-20305/

PS I see Steve-xx just beat me to it

GreenBitterfly

MARTYM8` wrote: »

Quick question for those with maturing Leeds BS Issue 2 regular saver accounts this weekend.

The capital bonus for the year is being paid on 1 March (i.e. tomorrow). Then from 1 to 3 March its still held in the regular saver 2 before being moved to the instant access account paying 0.85% on 3rd.

I am assuming therefore that I can simply withdraw my funds entirely on Monday (2nd) - and all I lose then is the 3% interest for one day and that is it? Is that correct.

Monday is better for me withdrawal wise as the cheque will clear sooner and I can move most of the funds to my high interest current accounts by the end of the week.

PS Having updated my passbook this week they have already paid the interest due on 1 March into your book - subject to you not closing your account before tomorrow.

I haven't got a solution for this, but I wondered this too, I work all day Monday and so can't get into a branch, so it's not relevant for me. I just wondered anyway!

Special_Saver2

Thanks for the information. I am now removing the Monmouthshire BS account as the interest rate reduction takes it below the threshold required to be on the first page of this thread. Regarding the Principality BS account, I am not sure when exactly it changed to issue 15. I just noticed it this weekend as I was doing a periodic thorough check of everything from the first page of this thread.

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

bristolleedsfan

GreenBitterfly wrote: »

I haven't got a solution for this, but I wondered this too, I work all day Monday and so can't get into a branch, so it's not relevant for me. I just wondered anyway!

I posted my book to a branch together with a withdrawal form dated today with instructions to transact after the bonus has been paid, I know my posting was received, funds havent reached my Bank Account as of now.