Regular Savings Accounts: The Best Currently Available List!

steady__eddie

Just been lurking furtively on another site and noticed that Yorkshire are dropping their Regsave rate to 6.85% on Sunday 30/12/07.

Speculator

reduction wef 30/12 according to moneyfacts..

http://www.moneyfacts.co.uk/savings/bestbuys/regular-savings-accounts.aspx

RayWolfe

Thanks. But I don't know why I'm thanking you. :-(

bristolleedsfan

steady__eddie wrote: »

Just been lurking furtively on another site and noticed that Yorkshire are dropping their Regsave rate to 6.85% on Sunday 30/12/07.

reducing rates 2 days before most of its competitors. :mad:

time to make a decision as to which fixed rate to move majority of YRS funds to. :think:

Milarky

Just to remind everyone, Yorkshire BS increased the rate from 7% to 7.1% following the rise in the BOE rate to 5.75%. This time they have passed full change on....

bristolleedsfan

Milarky wrote: »

Just to remind everyone, Yorkshire BS increased the rate from 7% to 7.1% following the rise in the BOE rate to 5.75%. This time they have passed full change on....

and previous base rate increase of 0.25% it slipped yorkshires minds to pass on any increase on its Reg saver.

Special_Saver2

Thanks for the above contributions.

I have updated the first posts of this thread with updated rates:
1. Yorkshire BS Regular Saver - 6.85% from tomorrow (down 0.25%)
2. Coventry BS First account (see feeder account section) - 6.10% (down 0.25%) from 1st January for people who are still in their first year of the account (not yet on their website but I have this information because Coventry have sent me a letter informing me)
3. Alliance & Leicester Save and Protect now 12% (was 14%) - this is the account that needs you to take out an insurance or investment product (!!)

I have checked and I cannot see any other rates that have changed. I have been checking them all once per week since the base rates changed. I am sure that when I check next week, the remaining variable rate accounts will have changed. For about 1 month, I will leave the old and new rates in the posts, then I will delete the old rates. I usually order the posts with the best rates at the top - I will re-order everything once all the rates have changed and the dust has settled!

interest_Ted

May I mention some possible typos in this extremely useful thread.

In post #3

WBS Magic 8 post mentions tracking the bank rate less 0.25%. I think the "less 0.25%" is only once it has gone past the 12 month mark. AFAIK the Magic 8 was 8.10% when BOE was 5.75% and then simply tracks the base rate for the first 12 months.

In post #4.

N&P. For the Gold saver, the rules indicate one needs to put £1k per month into the current account, not £500. The £500 limit is to get a better rate of interest in the current account (lower of the two better ones, the higher one being £1,500 as stated in the post), and is not related to the Gold saver.

Also N &P - post indicates only one Gold saver at a time. In fact the rules state only one Gold Saver - ever ! (my gold saver matured recently and I would dearly love to have another, so would be only too happy to hear that my understanding is wrong !)

On the Chorley Galloway - it mentions keeping £1 in the Santa saver. Believe this sentence belongs to the santa saver write up rather than the Galloway ?

Regards - Ted

knights

The magic 8 is based on a 'foundation' of (BOE base rate less 0.25%), ongoing. At the end of 12 months providing you have forfilled their T&C's they will add 2.6%. So when the BOE rate was 5.75% magic 8 was founded by 5.75% - 0.25% plus 2.6% = 8.1%, hence 8. As the BOE rates reduces or increases so the foundation rate will change.

It is currently Magic 7.85!!!!!


With regard to N&P as you say you have to put in £1000.00 pm to satisfy their RS T&C's. Of couse, (after allowing your monthly contribution), you can then withdraw the rest down to a minimum £1.00 if you wish. This is sensible as the interest rate on their Gold Current Account is only 4.59% aer at best, (£1500+), the surplus money is therefore better saved elsewhere.

interest_Ted

Knights - you are of course quite correct re the magic account

However post #3 talks about tracking the changes in the BOE less 0.25%. Surely it actually tracks the changes to the BOE.

To be precise, it does, as you say, track the BOE less 0.25%, then qualify for the additional 2.6% at anniversary.

My post should have been more explicit first time round. Perhaps I should have floated the idea that SS2 simply remove the words "any changes in" from the first line of the special conditions (?)

Have just noticed - the wording originated from moneysupermarket.com. So perhaps I should suggest they change their wording !!!

Ted