Regular Savings Accounts: The Best Currently Available List!

GreenBitterfly

BigBelly wrote: »

I'm pretty sure the Skipton Regular Saver (which became available for a few months from last November) does not allow a 13th monthly payment. Mine matures on the 19th November, and I made a payment yesterday and I have found a faster payment credit of £250 in my current account today. So I assume that Skipton have returned my payment.

The reason why I'm not 100% sure is that I also made two payments to Nottingham BS for £250 today for their Regular and Special Savers, to it is possible that one of those was rejected, but neither of them are maturing this month so I'm 99% that it came from Skipton. Maybe it was in the terms and conditions but I can't find them right now and the account is no longer available so I can't check online.

You can make as many payments as you want, as long as the maximum limit isn't exceeded. If the Christmas saver is at the 2.55% rate, then I won't be bothering with it.

Speculator

My Faster payments/Standing orders to both of my Penrith Regular savers left my current a/c on the early hours of Mon 2/11 but just checked my Penrith a/cs online and the payments are still not showing in either of my regular savings a/cs (xmas saver & Reg Saver 300)


Is this normal. It says "Accounts updated 03/11/2015 at 04:46:27" whenI log in.

moi

Speculator wrote: »

Is this normal.

I'd say yes. My payment made to them on Sunday has only just appeared this morning. It usually takes them at least 2 working days (if not 3), despite what their 'accounts updated' message might suggest.

Special_Saver2

Hi Everybody,

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

I will do another update the weekend after next.

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

darkidoe

Just came across the Regular Savings No time limit/Maturity date list. Seems like a good account to snowball a serious amount of savings for decent interest. Anyone has experience on how reliable they are not to change their terms every few years or so? And does their interest tend to remain fixed as well or change with the base rate?

Archi_Bald

They all have variable interest rates and at least one of them dropped from 2.5 to 2% quite recently. Many also have restrictions on who can hold them and how they can be operated.

I can't see much attraction in these when you can pay £1,450 a month into accounts that pay between 4 and 6% AER, which are essentially available to all adults, and can be operated wholly online.

redux

darkidoe wrote: »

Just came across the Regular Savings No time limit/Maturity date list. Seems like a good account to snowball a serious amount of savings for decent interest. Anyone has experience on how reliable they are not to change their terms every few years or so? And does their interest tend to remain fixed as well or change with the base rate?

Some are no longer available to new entrants, replaced with later versions with lower interest rates.

Not much space for idealism, in other words.

Special_Saver2

darkidoe wrote: »

Just came across the Regular Savings No time limit/Maturity date list. Seems like a good account to snowball a serious amount of savings for decent interest. Anyone has experience on how reliable they are not to change their terms every few years or so? And does their interest tend to remain fixed as well or change with the base rate?

Archi_Bald wrote: »

They all have variable interest rates and at least one of them dropped from 2.5 to 2% quite recently. Many also have restrictions on who can hold them and how they can be operated.

I can't see much attraction in these when you can pay £1,450 a month into accounts that pay between 4 and 6% AER, which are essentially available to all adults, and can be operated wholly online.

In that post (post 2 on page 1), I have indicated where possible how long the interest rate has been in force for and you can see that some of them have been the same for a long time, e.g. the Nottingham account has had the same interest rate since 2009. You can also see the warning on the Leeds issue 3 account entry about what happened to issue 1 and 2 holders. Having said that, the Leeds issue 3 account is a pretty good one. You can also see the geographical restrictions on many of the other accounts listed in post 2 (those accounts are great if you happen to live within the right area or are an existing customer).

For those accounts in post 2, sometimes the account gets withdrawn for new customers but existing account holders can continue paying into them. I still have a Yorkshire BS account paying 3.75% and Coventry BS account paying 3.5% with no maturity date that fit into this category and I am very pleased with both.

SS2

redux

Special_Saver2 wrote: »

For those accounts in post 2, sometimes the account gets withdrawn for new customers but existing account holders can continue paying into them. I still have a Yorkshire BS account paying 3.75% and Coventry BS account paying 3.5% with no maturity date that fit into this category and I am very pleased with both.

I was thinking of those two as I wrote my comment above.

Their older monthly saver accounts had fixed terms, and I'd had 2 or 3 of each of theirs starting between 20 and 15 years ago. Then I had a period of not saving, and when I came back I'd missed those open ended ones, and now they just have 2% available.

apt

Archi_Bald wrote: »

They all have variable interest rates and at least one of them dropped from 2.5 to 2% quite recently. Many also have restrictions on who can hold them and how they can be operated.

I can't see much attraction in these when you can pay £1,450 a month into accounts that pay between 4 and 6% AER, which are essentially available to all adults, and can be operated wholly online.

But after 12 months you have to do something with the savings you have racked up whereas those lucky enough to have one of the early versions of the YBS regular saver (up to £20,000) or the Coventry BS ex Swindon and Stroud regular saver are still getting 3.5% or better on their savings.