Regular Savings Accounts: The Best Currently Available List!

premierfella

As requested... from the terms and conditions (term 9):

"...The Interest Bonus Rate is variable and may be changed with effect from any anniversary of the opening of the Account. We may change the Interest Bonus for one or more of the reasons mentioned in the "Interest" section of the General Terms and Conditions, or for any valid reason not so mentioned. .."

In the past the 3% bonus would have been virtually guaranteed given prevailing interest rates. Now that the rate excluding bonus is 0.1% I doubt they will maintain the bonus at 3% going forward if the BOE cuts rates again - this is Britannia we are talking about after all and they are not know for being particularly generous with their savings rates!;)

bristolleedsfan

http://www.dunfermline.com/savings/monthly-saver-4.aspx

Milarky

I had an 'Issue 2' Dunfermline RS. Watch them, they are tricky about the interest. The variable (small) bit was paid it to the 'anniversary' - the last day of the month of opening - BUT the bonus interest was only 11/12ths of what it should have been - because they took the bonus interest rate period only to 11 months into the year (Thereafter the 'correct' bonus would have been payable, because the 12th month from year 1 to the end of the 11th month of year is then a 'full' 12 months) However the terms and conditions did not entitle them to do this with my account, and I would not be surprised if their systems aren't still set up a bit skew...

(But still a good rate for four years - well spotted BLF..)

Special_Saver2

Hi folks,

Here is this weekend's update:

- Britannia BS Regular Saver added to post 2 (thanks bristolleedsfan and premierfella). This account just makes it on to the list with an interest rate of 3.10% before the February interest rate cut but the interest rate guarantee of 3% for the first 12 months will ensure it remains on the list for a while

- Dunfermline Monthly Saver (Issue 4) added to post 3 (thanks bristolleedsfan - nicely spotted!). This account pays 3.75% including a fixed interest bonus interest rate of 3.65% for 4 years on £1-400 per month (i.e. you can get almost £5,000 per year into this account and keep it going for 4 years). See post 3 for a summary of the terms and conditions.

- Marsden BS Christmas Saver has been withdrawn

- Yorkshire BS Internet Saver (feeder section, post 9) interest rate will drop 0.5% - down to 2.75% from 22nd February according to emoneyfacts. No news yet on their regular savings accounts interest rates.

SS2

Kazza242

Principality Building Society have launched a new St. David's Day Regular Saver Bond, paying 4.50%, fixed for one year from the date of account opening. Pay in between £20 to £500 per month (only one payment per month allowed). See here.

Further details here.

Special_Saver2

Thanks for the information Kazza. I have added the details into post 4.

SS2

steveteach

Hi Special_Saver2

Please take another look at the Daily News Bulletin you posted.
It does mention the YBS Regular Saver interest rate is reducing by 0.50%.
See the quote for the last few lines:

"REGULAR SAVER: 3.25% (-0.50%). FIRST TIME BUYER SAVINGS: 1.28% (-0.26%). ISA PLUS: 1.20% (-0.40%). E-ISA (-0.50%): £10 - 2.30%, £10K - 2.50%, £20K - 2.75%. MONTHLY REWARD ISA: 2.72% (-0.24%). Monthly options will also reduce.20 Feb 2009"

Also YBS site says"Regular Saver Issue 2 from 22 Feb 2009 will be 3.25%"

Special_Saver2

Thanks steveteach, you are quite right. I shall go and update the entry on the Yorkshire BS Regular Saver Issue 2 right now.

As a matter of interest, the original Issue 1 account interest rate is going to remain at 3.75%. I thought they would cut it down to 3.5% (which is the minimum possible according to the terms and conditions) but they have not done this.

SS2

Nick_C

Special_Saver2 wrote: »

Thanks steveteach, you are quite right. I shall go and update the entry on the Yorkshire BS Regular Saver Issue 2 right now.

As a matter of interest, the original Issue 1 account interest rate is going to remain at 3.75%. I thought they would cut it down to 3.5% (which is the minimum possible according to the terms and conditions) but they have not done this.

SS2

Wow, thanks for posting that! I had assumed it had fallen to 3.25% - glad I kept this one open, not brilliant but not a bad rate right now.

steveteach

Hi Special_Saver2

My pleasure, just happy to help. Perhaps YBS don't want to have issue one savers withdrawing the £££?