Regular Savings Accounts: The Best Currently Available List!

katejo

How do you manage that when they usually require you to have a current account and pay £500 to £1000 into that account per month? Yes I know that you can pay it in and then transfer it back but maintaining 23 accounts?

i see that someone else has 58. How?

adindas

katejo wrote: »

How do you manage that when they usually require you to have a current account and pay £500 to £1000 into that account per month? Yes I know that you can pay it in and then transfer it back but maintaining 23 accounts?

i see that someone else has 58. How?

RSA a/c such as from Virgin money does not require another product (e.g no current a/c with minimum payment is needed).

Few people manage to get five of them e.g three Regular eSaver + 2 Branch operated Regular Saver.

I fully believe the one who get 58 include the sole account and the OH and join a/c. It might also include the one paying lower then 2%. But hopefully "patientperson" will come back and explain his tips.

as well as the one paying lower than 2%

patientperson

adindas wrote: »

IMPRESSIVE

Is it under sole name or include the RS under OH and the one created using join A/C as a condition?

Are you also investing in RS paying less than 2% ?

Please share your knowledge to assist people to improve performance ...

List of the RS you are currently having will be very useful ...

All my RS are under sole name .. no OH or joint accounts.

I am (amongst others on this site) a member of all remaining U.K. Building Societies so those offering regular savers will always appeal to me.
In many cases I have multiple RS with the same society under different issues or where multiple accounts of the same issue are permitted.

I probably have a different approach to RS to most savers and this does come back to the interest rate on offer.
When a regular saver has only a 1 year span I will tend to save the maximum for 3 to 6 months and then reduce the monthly amount after that.
The reason is to make funds available for the next new offering.

Some are now paying less than 2% but these accounts will only be funded with the minimum amount and will continue my BS membership.

A count comes up with 46 RS with Building Societies and 14 RS with Banks.
Included in the Building Societies are 28 accounts with no maturity date and mostly interest is compounded.

I am sorry but I will not issue a list of all my 60 accounts.

As Special_Saver does an excellent job of recording the best RS this should always be a point of reference.

The following sites can also be useful.

Savers Friend : https://www.saversfriend.co.uk/?dm_i=187N,WC1S,6BUB1S,2OXEO,1

Moneyfacts: http://moneyfacts.co.uk/news/savings/

Simply Savings: https://www.simplysavingsaccounts.co.uk/regular-savings

Moneywise: http://www.moneywise.co.uk/compare-savings-cash-isas

Money: http://www.money.co.uk/savings-accounts/regular-savings.htm

Savings Champion: https://www.savingschampion.co.uk/best-buys/personal/regular-savings/

Good luck and I hope this has helped.

fabsaver

patientperson wrote: »

All my RS are under sole name .. no OH or joint accounts.

I am (amongst others on this site) a member of all remaining U.K. Building Societies so those offering regular savers will always appeal to me.
In many cases I have multiple RS with the same society under different issues or where multiple accounts of the same issue are permitted.

I probably have a different approach to RS to most savers and this does come back to the interest rate on offer.
When a regular saver has only a 1 year span I will tend to save the maximum for 3 to 6 months and then reduce the monthly amount after that.
The reason is to make funds available for the next new offering.

Some are now paying less than 2% but these accounts will only be funded with the minimum amount and will continue my BS membership.

A count comes up with 46 RS with Building Societies and 14 RS with Banks.
Included in the Building Societies are 28 accounts with no maturity date and mostly interest is compounded.

I am sorry but I will not issue a list of all my 60 accounts.

As Special_Saver does an excellent job of recording the best RS this should always be a point of reference.

The following sites can also be useful.

Savers Friend : https://www.saversfriend.co.uk/?dm_i=187N,WC1S,6BUB1S,2OXEO,1

Moneyfacts: http://moneyfacts.co.uk/news/savings/

Simply Savings: https://www.simplysavingsaccounts.co.uk/regular-savings

Moneywise: http://www.moneywise.co.uk/compare-savings-cash-isas

Money: http://www.money.co.uk/savings-accounts/regular-savings.htm

Savings Champion: https://www.savingschampion.co.uk/best-buys/personal/regular-savings/

Good luck and I hope this has helped.

Thanks for sharing. That's very impressive!

I only have 14 and they're mainly banks. Most of the building society accounts I've looked at need to be opened in branch, so not worth it unless you live in the area. Do you know any way around that or do you have to travel to open them all?

I thought carpetbagging was dead and buried years ago. You certainly live up to your username When the regular saver accounts mature and you have to open a new one does that not make you a new member and therefore ineligible? I presume you would have to open the new issue on the same day to maintain membership?

patientperson

fabsaver wrote: »

Thanks for sharing. That's very impressive!

I only have 14 and they're mainly banks. Most of the building society accounts I've looked at need to be opened in branch, so not worth it unless you live in the area. Do you know any way around that or do you have to travel to open them all?

I thought carpetbagging was dead and buried years ago. You certainly live up to your username When the regular saver accounts mature and you have to open a new one does that not make you a new member and therefore ineligible? I presume you would have to open the new issue on the same day to maintain membership?

I joined nearly all of the Building Societies more than 17 years ago so I cannot advise on how you now can join them. Some will open accounts via the postal system or online so it is a case of research. This link may help as all Building Societies are mentioned: https://www.bsa.org.uk/about-us/members-of-the-bsa

In the case of only having 1 account with a BS then normally the BS contacts a member prior to maturity offering a new product and if taken will keep the membership open in that BS.

dark.knight_3

Excuse me for being flippant but why would anyone have a regular saver that pays less than 2%. A basic calulation for the interest recieved is to half the interest and that its roughly what you'd get for a year i.e a 2% RS would net the equivalent of 1% after a year. You can get that in a number of savings account and save a lot more than what you can on regular savers

le_loup

Oh dear!
...........................................................................................

schiff

Another Oh Dear here too

Let battle commence.

veryintrigued

They must have had some help with calculating the % in their signature coming out with nonsense like that....

You can only hope lots of others think similar tripe so that these sorts of offers don't get blown out of the market by the MSE massive

dark.knight_3

schiff wrote: »

Another Oh Dear here too

Let battle commence.

No offence was intended, it was an genuine question and I would like to know. I only have one with First Direct which is at 5% (down from 6 last year) I have looked around and seen some of these but I didn't think they were worth the effort just for say £60 over a year. Does having so many mean the actual rate increases by recycling the money to make it worthwhile?