Regular Savings Accounts: The Best Currently Available List!

confusedbankrupt_2

Firstly, I'm sorry, this is probably not the right way to ask for advice and i'm probably on the wrong page entirely, so forgive me, I'm new to this really. I want to set up accounts for my 2 yr old and 5 yr old, that can be accessed by me if need be. I have £5k to put in straight away and want to save each month too but only about £30each.
I can't make sense of all the moon rains of options so was hoping someone could advise me.
I wish i had hours to do the research from scratch but sadly i just haven't!
Many many thanks for any advice people can give

schiff

Special_Saver2 wrote: »

I will do another update next weekend.

SS2

For your next update: Leek United BS Regular Savings Account

Current interest rate (from 2/9/16 - per the handout I was given) 2.25% with bonus (earned if you deposit the same amount every month - £25 to £500 - and make no more than one withdrawal in the year) and 1.75% without bonus, if you make more than one withdrawal in the year.

From 2/10/16 the above rates are reduced by 0.25% to 2.0% and 1.5%.

First deposited amount determines the subsequent deposit amount. The second etc deposit has to be in the next calendar month but the second deposit can be on the 1st, whenever the date of the first deposit.

Interest rates are variable. Bonus is also lost if the account is closed on a non-anniversary date.

The account is open-ended. Not operable on the internet, though interest rates etc can be checked. Passbook applies. Interest added annually on the anniversary.

Westie983

steve65e wrote: »

Re HSBC Reg Saver

Internet banking lets you change the date after the second payment

I was able to change the payment date after the first initial payment, as long as its a month after the first opening payment.

First payment was part of the application opening process and I have amended the SO to be paid on payday the following month,

Westie983

confusedbankrupt wrote: »

Firstly, I'm sorry, this is probably not the right way to ask for advice and i'm probably on the wrong page entirely, so forgive me, I'm new to this really. I want to set up accounts for my 2 yr old and 5 yr old, that can be accessed by me if need be. I have £5k to put in straight away and want to save each month too but only about £30each.
I can't make sense of all the moon rains of options so was hoping someone could advise me.
I wish i had hours to do the research from scratch but sadly i just haven't!
Many many thanks for any advice people can give

Start a new thread, you may get more specific answers.
To create a thread go to the front screen of the Savings and Investment board and click the blue new thread button, and ask your question,

but best option is to check out the thread about childrens savings account,
I will find you a link....Children's savings

afmfifgh

Letter received yesterday stating that The Loughborough Building Society - Monthly Saver rate is rising.

Only kidding ;-) - it is falling by 0.25% from 20th September 2016 - Oddly the letter is dated 09/09/2016 but was received 05/09/2016.

I thought they had to give you longer notice on interest rate falls? Had it in my head you had to be given two months notice? Or is that just industry best practise and in reality it is the T&C's that matter?

Therefore, meaning:

Gross annual rate (for regular equal monthly savings £10 to £500 per month) falling from 0.75% to 0.50%

or

Gross annual rate (enhanced rate if at least 11 equal monthly payments are made and only one withdrawal is made annually (savings £10 to £500 per month) falling from 2.25% to 2.00%.

bowlhead99

They can do whatever they like within reason if the t&c allows it and the t&cs aren't contrary to any regulations

https://www.fca.org.uk/consumers/changes-bank-account

[Deleted User]

Westie983 wrote: »

Front page needs updating: Buckinghamshire Building society have closed their Simple regular saver (Issue 2) to new applicants, my application was sent off two days ago wonder if they will still open it?

Just went on to check the interest rate compared to the new leeds one and the page says 'These accounts are now closed'

Westie983

My application for the Bucks BS Simple Regular Saver was posted on 31 August with second class stamp. I received passbook in the post yesterday (5 September), showing that account was opened on Friday 2 September. I must have got in just before it was pulled.

sammybee

eskbanker wrote: »

Your question is completely unrelated to the topic of this thread and should be posted on the ISA board anyway!

sorry dont know what happened not sure how to do this

adindas

Having swept all of >3% RSA that I could get I now start looking RSA paying 2% especially the one which have a flexibility and/or could allow a large sum up to £500. This is to drain the money from Santander 123 account which I consider it no more favorable if monthly fee is to be taken into consideration as well and not generated enough cashback.

In the last few days I managed to open the open the following
Buckingham BS 2% £250
Leed BS RS i4 2.3% £250
Halifax Regular Saver 2.0% £250
BOS Regular Saver 2.0% £250
Principality RS i17 2.0% £500

I am considering open the
Scotland BS
and Lough borough.

After draining all of the money from Santander 123, I will downgrade it to Santander123 lite or close the account.

Any suggestion to generate a better interest rate ?
Have I missed other better option RSA???
Did I miss something ?

broju

'Having swiped all of >3% RSA that I could get I now start looking RSA paying 2%............................'


Lloyds Monthly Saver 2% on £250pm