Regular Savings Accounts: The Best Currently Available List!

steady__eddie

I opened mine some years ago on the 28th of January and my first S.O. was accepted on the 2nd of February. (The first fell on Sunday).

Westie983

liamcov wrote: »

With the Leeds Reg Saver, I have just opened this account and received my passbook, it shows my cheque was paid in on 26 April, I'm going to set up a standing order for future payments but wondering can I do so today for May or do I have to wait to do each one on the 26th of the month too?

Whatever day you wish, I fund mine by cheque in the post, so my passbook is updated at the same time, and I have sent the cheque sometimes first week of the month, others have been around the 20th of the month so its paid by my wages but time to arrive and be cashed in the current month.

lucky77

Loughborough Building Society
Monthly Saver and Monthly Saver 2 interest rate drops to 2.25% from 1st June

Special_Saver2

Hi Everybody,

I cannot find anything that has changed for this weekend's update of the first page of this thread.

In case anybody is wondering, for the Loughborough BS Monthly Saver accounts mentioned above, there is an issue 3 account currently available but as the interest rate is 2.25% and it only allows £250 per month to be deposited for a year so it is not good enough to meet the criteria for entry on to page 1 of this thread.

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

rokwarm

The interest rate drops significantly after the date specified.

Temrael

Just had a bit of a "duh!" moment with regard to the Santander regular saver. I'm sure what I'm about to say is already painfully obvious to you guys but anyway...

I was all excited about the 5% interest and couldn't believe I'd somehow overlooked this account (already having lots of Regular Savers with other banks and a Santander 123 current account). It then struck me though, that the actual incremental interest you would receive over just leaving £2400 for a year compounding in the 123 account might make this fairly marginal. So I got very geeky in Excel and worked it out... £25.31.

That's right ladies and gentlemen, I will earn an additional £25.31 for the year if I drive into town, go into branch and spend 20 mins opening one of these. I hope I don't have to pay for parking. :rotfl:

Westie983

Temrael wrote: »

Just had a bit of a "duh!" moment with regard to the Santander regular saver. I'm sure what I'm about to say is already painfully obvious to you guys but anyway...

I was all excited about the 5% interest and couldn't believe I'd somehow overlooked this account (already having lots of Regular Savers with other banks and a Santander 123 current account). It then struck me though, that the actual incremental interest you would receive over just leaving £2400 for a year compounding in the 123 account might make this fairly marginal. So I got very geeky in Excel and worked it out... £25.31.

That's right ladies and gentlemen, I will earn an additional £25.31 for the year if I drive into town, go into branch and spend 20 mins opening one of these. I hope I don't have to pay for parking. :rotfl:

Pick up the phone, from the comfort of your arm chair,
No need to go into town, no need to pay for parking, then you can fund the account from your computer with a click of a few buttons....

(note I haven't mentioned the time it takes to open the account as indeed it may take 20 mins or more to do so)

:rotfl:

arsenalboy

Temrael wrote: »

. So I got very geeky in Excel and worked it out... £25.31.

That's right ladies and gentlemen, I will earn an additional £25.31 for the year if I drive into town, go into branch and spend 20 mins opening one of these. I hope I don't have to pay for parking. :rotfl:

In isolation that is right, but when you put the effort in on a range of "higher" paying interest accounts, your average return will be better than the market norm.

No effort no gain:)

Temrael

Oh yep absolutely, it's still £25 for basically no effort.

I might just combine it with a trip into town for other things is all. I see in the thread here people have spent 40 mins on the phone trying to get through to Santander, so probably easier in branch.

Eco_Miser

Temrael wrote: »

I was all excited about the 5% interest and couldn't believe I'd somehow overlooked this account (already having lots of Regular Savers with other banks and a Santander 123 current account). It then struck me though, that the actual incremental interest you would receive over just leaving £2400 for a year compounding in the 123 account might make this fairly marginal.

That is also true (varying for the amount you're allowed to save each month) for all the other regular savers you have.
It's an extra 2%, and it's an extra £2400 you can save with Santander if you have £20k.