Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Okay, I know this account is not on my best buy list any more but for anybody else who still has one (like me), the new interest rate is 4.25% from 28th December (only down 0.5%).

Palm_Centro

Updated to include the Monmouthshire BS Christmas Saver as pointed out by Afahmaep in another thread.

Special_Saver2

Palm_Centro wrote: »

Updated to include the Monmouthshire BS Christmas Saver as pointed out by Afahmaep in another thread.

Thanks but the Monmouthshire BS Christmas Saver and the Saver Plus accounts were both removed from the posts at the beginning of this thread a while ago because the interest rates on these accounts became relatively poor. (They used to beat the best general savings accounts but that is no longer the case sadly.)

They are both currently paying 4% (including the 3% bonus) before the December interest rate cut is factored in (the updated interest rate is currently awaited).

I shall wait and see what the updated interest rate becomes - if one or both of these accounts can match the third best general savings account on Martin's Savings Accounts page then they will get added back in.

All the best,
SS2

Special_Saver2

Hi Everybody,

Hooray! Another day off work! It also means that I have a chance to get in front of a computer and do another update for this thread.

I have added the following update to the first page of this thread:

- Abbey Fixed Rate Monthly Saver Issue 8 will be withdrawn on 06/01/09. (This is the account that can be opened on its own.) People who apply from 07/01/09 onwards will get an Issue 9 account which will only pay 5% gross p.a. fixed. According to emoneyfacts, the new Issue 9 account will not allow payments to be amended during the 13 month term.

- Abbey Super Fixed Rate Monthly Saver Issue 4 will be withdrawn on 06/01/09. (This is the account which requires you take out an investment product at the same time.) People who apply from 07/01/09 onwards will get an Issue 5 account which will only pay 7% gross p.a. fixed.

- Abbey Home Saver Special Issue 1 interest rate dropping from 6.5% down to 5.5% from tomorrow according to emoneyfacts

The Nottingham BS Regular Saver (which is not good enough to make it on this list at the moment) is only dropping its interest rate by 0.3%, down to 3.95% from tomorrow. After all the rate cuts have filtered through, if this makes it good enough to equal the third best general savings account then I shall add it to the first page of this thread. I should point out though that it can only be opened and operated in branch.

I shall do another update this weekend.

Happy New Year!!!

SS2

steveteach

Hi Just noticed that the Yorkshire BS Regular Saver has been withdrawn for new investors.

http://www.ybs.co.uk/savings/interest_rates/regularsaver.jsp

I know it's not the best around, I withdrew most of my money for a fixed rate bond some time ago.

jimbow25

steveteach wrote: »

Hi Just noticed that the Yorkshire BS Regular Saver has been withdrawn for new investors.

http://www.ybs.co.uk/savings/interest_rates/regularsaver.jsp

I know it's not the best around, I withdrew most of my money for a fixed rate bond some time ago.

That was one of the best regular savers when it launched at about 7-7.5% with the ability to save for several years up to 20k- but the best instant access account rates went up and up from 5.5% to 6.5% ish whilst it stood still, meaning the regular saving bonus was limited. Then it fell as soon as the base rates did.

YorkshireBoy

steveteach wrote: »

Hi Just noticed that the Yorkshire BS Regular Saver has been withdrawn for new investors.

With a 3.5% bonus rate (and 2% BOE rate) it wasn't unexpected.

I withdrew all bar £10 mid 2008 and have just received (and withdrawn) my 2nd year's interest so will be closing the account tomorrow.

YorkshireBoy

YBS Regular Saver 2 launched.

Rate exc. bonus..........2.25% AER
Rate inc. bonus...........4.25% AER (inc. 2% conditional bonus)

Only other change appears to be a £250 per month restriction.

Full details at http://www.ybs.co.uk/savings/regular...aver/index.jsp

steveteach

Not a high enough interest rate to make it attractive to me, I will just keep my issue 1 going to keep the bonus.

YorkshireBoy

steveteach wrote: »

Not a high enough interest rate to make it attractive to me, I will just keep my issue 1 going to keep the bonus.

You might want to check you're actually receiving a bonus, and, if you are, what it is...

http://forums.moneysavingexpert.com/showthread.html?t=1148439 (post #17 et seq)