Regular Savings Accounts: The Best Currently Available List!

[Deleted User]

I have today posted my application form to Holmesdale BS for Regular Saver (Issue 3), along with cheque for £250 for initial payment.

Thanks to JamesRobinson48 for bringing this one to notice.

[Deleted User]

Special_Saver2 wrote: »

Hi Folks,

I have completed this weekend's update for the first page of this thread.

- Nottingham BS Go for Gold account withdrawn and removed from post 3
- Nottingham BS SportAid account added to post 3 (the details are on the Nottingham BS website already)
- Cumberland BS Regular Saver (Issue 3) interest rate drop from 2.3% to 2.05% from 1st October noted in post 5
- Furness BS Lifestyle Saver interest rate drop from 2.05% to 1.8% from 1st October noted in post 2
- Scottish BS Regular Saver interest rate drop has already been noted in post 4 last weekend
- Holmesdale BS Regular Saver (Issue 3) added to post 4 (see below)
- Ipswich BS Smart Save account closure to new members, interest rate drop from 3.5% to 3.25% and 2 penalty-free withdrawals from 1st October noted in post 4

Regarding funding current accounts, I daisychain my payments manually using Faster Payments so I watch the money get from one account to the next, i.e. send money from account 1 to account 2, login to online banking for account 2 and send money to account 3, login to online banking for account 3 and send money to account 4, et cetera. For institutions where a standing order from their current account to their regular saver is obligatory, I am especially careful to ensure money is in the current account at least 1 day before the standing order is due to go out, particularly if there is no overdraft facility on the current account.

JamesRobinson48, these are the current criteria I am using for including accounts on this thread (copied from post 1 and explained in one of my update posts recently):


I had excluded the Holmesdale BS Regular Saver (Issue 3) account because moneysupermarket.com lists it as a variable interest account. Looking at the Holmesdale BS website, I see moneysupermarket.com is wrong and this is a fixed interest account. I would agree with you that it is a pretty good account in the current environment, particularly as it can be opened by post and it meets the criteria listed above. If anybody wants one, they should probably get it quickly as I see this interest rate has been the same for more than 2 years. I was confused at first by the appearance of both an issue 3 account (paying 2% on up to £250 per month for 1 year) and an issue 4 account (paying 1.6%, same details otherwise). Looking at the issue 4 account more closely, I see it can only be opened by people with a maturing issue 3 account, so I assume the issue 3 is still an open issue. I have now added the issue 3 account to the first page of this thread.

Many thanks to all the forum users who have provided useful information throughout the week.

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

Regarding the Holmesdale BS Regular Saver (Issue 3), the Holmesdale website shows the interest rate as 2% variable, not fixed.

adindas

Deleted_User wrote: »

Regarding the Holmesdale BS Regular Saver (Issue 3), the Holmesdale website shows the interest rate as 2% variable, not fixed.

The interest rate is variable indeed as explained here:
http://www.theholmesdale.co.uk/savings/products/2103-regular-saver-issue-3

Regular Savings (Issue 3) is a one year fixed term regular saver but the Interest Rate is Variable.
It will need to take this variable interest into consideration when taking this product because if the interest change within a year, no chance to pull out of the game, as no withdrawals allowed within one year of fixed term.

Wheres_My_Cashback

Cheque deposited and recorded as entered 08/09. Does anyone know if the S/O can be dated from 01/10 or must it be 08/10 or later ?

glider3560

Wheres_My_Cashback wrote: »

Cheque deposited and recorded as entered 08/09. Does anyone know if the S/O can be dated from 01/10 or must it be 08/10 or later ?

If they work in the same way as Issue 3, then 1st October is ok. There were only 5 days between first and second deposit on my Issue 3.

adindas

Wheres_My_Cashback wrote: »

Cheque deposited and recorded as entered 08/09. Does anyone know if the S/O can be dated from 01/10 or must it be 08/10 or later ?

Either of those option. I have changed all of my Leeds RS to 1st day of the month after the first payment ...

Wheres_My_Cashback

glider3560 wrote: »

If they work in the same way as Issue 3, then 1st October is ok. There were only 5 days between first and second deposit on my Issue 3.

adindas wrote: »

Either of those option. I have changed all of my Leeds RS to 1st day of the month after the first payment ...

Thanks guys

Maximum_Saving

I hate these interest rates on regular saving accounts going down. I have a 6% interest regular saver with First Direct.

Special_Saver2

Thanks Hattie625 and adindas for correcting me. You are completely correct, it is "fixed term" not fixed interest rate. That is a pretty bad set of terms and conditions - they can drop the interest rate and you cannot withdraw your money until the account matures! I have deleted it from the list on page 1 as it does not meet the criteria for inclusion. Thanks for pointing this out.

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

JamesRobinson48

When I opened my Leeds RS Issue 4 in my local branch last week, the cashier told me there is no problem at all setting up my STO for the 1st of each month.