Regular Savings Accounts: The Best Currently Available List!

Axon75

can you tell me please how to invest:
1) 14k I have
2) £1000 I save each month
I already put 2.5k in Nationwide
I am HSBC premier
thanks!

Steve_xx

Axon75 wrote: »

can you tell me please how to invest:
1) 14k I have
2) £1000 I save each month
I already put 2.5k in Nationwide
I am HSBC premier
thanks!

A Santander 123 current accout pays 3% on a balance upto 20k. TSB pays 5% on their current account on balances upto 2k and you can also have their regular Saver that pays 5%. Lloyds Club current account pays 4% on balances between 4 and 5k and you can have a Regular Saver which also pays 4%.

However, you mentioned investment accounts but I suspect you means "savings" type accounts?

Archi_Bald

Steve_xx wrote: »

A Santander 123 current accout pays 3% on a blance upto 20k. TSB pays 5% on their current account on balances upto 2k and yiu can also have their regular Saver that pays 5%. Lloyds Club current account pays 4% on balances between 4 and 5k and you can have a Regular Saver which also pays 4%.

I do not understand why people are still peddling the Santander 123 for low savings amounts like £14K. It's not the best interest payer right now, and it will become one of the worst when Santander up their monthly charges in January, less than 2 months from now.

There are plenty of better interest-paying alternatives than the Santander 123.

Also, we shouldn't really be discussing current accounts in this thread. This is the Regular Savings Accounts thread. It cover savings (not investments) into accounts know as Regular Savings Accounts. These aren't what you would colloquially call "a regular savings account" but accounts into which you make monthly savings, up to a maximum (quite low) allowed per month.

The first few posts in this thread give you an up-to-date list of the best Regular Savings Accounts.

EDIT: Axon75, you already have your own thread running for your question: https://forums.moneysavingexpert.com/discussion/5347399. No need to start a new discussion in a wrong place.

Steve_xx

Archi_Bald wrote: »

I do not understand why people are still peddling the Santander 123 for low savings amounts like £14K. It's not the best interest payer right now, and it will become one of the worst when Santander up their monthly charges in January, less than 2 months from now.

There are plenty of better interest-paying alternatives than the Santander 123.

Also, we shouldn't really be discussing current accounts in this thread. This is the Regular Savings Accounts thread. It cover savings (not investments) into accounts know as Regular Savings Accounts. These aren't what you would colloquially call "a regular savings account" but accounts into which you make monthly savings, up to a maximum (quite low) allowed per month.

The first few posts in this thread give you an up-to-date list of the best Regular Savings Accounts.

I'm not "peddling" the 123 account. The OP states they are saving 1k per month so their 14k will rapidly reach 20k. Many don't like having several accounts and so my thoughts were that this may suit if that was the case.

Yes, there are accounts paying better than the 123 account and indeed I have made mention of two of them.

Point taken regarding discussing non-Regular accounts on this thread. But of course these days nowt is simple and there are links between normal current account and Regular Savers and despite what you say, Regular saver accounts is what they are and they are inextricably linked to their respective current accounts and so mention is almost unavoidable.

The OP is newbie and therefore - be nice to them. After all, we elders don't own this forum.

richy999

Forum mods... could this thread be made a sticky at the top of the forum?

Vortigern

richy999 wrote: »

Forum mods... could this thread be made a sticky at the top of the forum?

It is already linked in the sticky thread at the top of this forum.

Cisco001

Axon75 wrote: »

can you tell me please how to invest:
1) 14k I have
2) £1000 I save each month
I already put 2.5k in Nationwide
I am HSBC premier
thanks!

Current A/C: TSB, Lloyds, 2 x RBS, M&S
Regular saver: HSBC, M&S, TSB, Lloyds

Special_Saver2

Hi Folks,

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

ctdctd

Nationwide have a new Flexclusive RS 5% variable for £500 per month for main current account holders.

https://forums.moneysavingexpert.com/discussion/5370758

http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

Also, the old Regular Savings now seems to have become 2% on all balances and still accepts £1000 per month. My account with £20 in it now shows 2% on the interest rate page and not 0.25% :T

gt94sss2

ctdctd wrote: »

Also, the old Regular Savings now seems to have become 2% on all balances and still accepts £1000 per month. My account with £20 in it now shows 2% on the interest rate page and not 0.25%

Worth noting that the website limits the old Regular Savings Account to £500 now (for new customers?) and states "You can only have one Regular Saver or Flexclusive Regular Saver account at any one time, which can be held in sole or joint names."

Regards
Sunil