Regular Savings Accounts: The Best Currently Available List!

pafpcg

mhoc wrote: »

I am half way through my 2nd regular saver bond so another 6 months to go before I can apply

It's not a problem!

The Member Only Regular Saver Bond is a separate product to the Regular Saver Bond and there's nothing in the T&C documents to exclude holders of other Principality regular saver accounts. I already have the Regular Saver Bond and my application for a Member Only Regular Saver Bond was accepted and opened today.

Kernel_Sanders

Newly_retired wrote: »

Managed to open the new Nottingham BS Special Regular saver issue 6 in branch today on its launch.

You must be the only person who's ever achieved this as the Nottingham are notorious for the lack of publicity for new accounts and you were lucky to get a same-day appointment, although branches have discretion over whether they can grant these. In fact some branch based accounts never appear on the website, and I only found out about the Special Regular Saver 5 when another customer mentioned it in-branch.

schiff wrote: »

You end up with a deposit account at 2.5% interest

Maybe. The T & Cs for Issue 6 say that the interest rate is variable. My thanks go to Glider for correcting what I also posted here. The relevant bit of the T & Cs quoted in #6628 is enboldened:

7.5
We may change interest rates at any time if we reasonably believe that the change is needed
for any of the following reasons (which may relate to circumstances existing at the time or
those that are expected to apply in the near future):
•
to respond to changes in the Bank of England base rate or mortgage or interest rates
generally (including the interest rates paid on similar accounts by other providers of
financial services);
•
to respond to changes in the law or the decision of a court or ombudsman;
•
to meet relevant regulatory requirements;
•
to respond to new (or changes to) statements or codes of practice or industry guidance
designed to enhance consumer protection;
•
to respond to changes to our costs, including administration costs and costs of providing
services or facilities;
•
to maintain our financial strength and stability for the benefit of all our members, having
proper regard to our status as a mutual society.
Any change we make to interest rates will be proportionate to the circumstances giving rise
to the change.
7.6
Changes may include the introduction or alteration of ‘bands’ under which:
•
interest is not paid where the amount in the account is below a certain level; and/or
•
different rates apply depending on the amount in the account.
7.7
When we make a change, we will tell you about it in the following ways:
•
if we materially decrease an interest rate to your disadvantage, we will notify you in
writing 14 days in advance of the change. You will be given 30 days from the date of this
notification to close or switch your account without notice/penalty
•
if we make a decrease to an interest rate that is not material or we increase an interest
rate, we will notify you in one or more of the following ways:
–
placing notices in our branches
–
a notice on our website
We will define a decrease to an interest rate as ‘material’ if it reduces more than the Bank of
England Base Rate.
This does not apply to fixed rate or tracker accounts.

https://www.thenottingham.com/savings/products/special-regular-saver-issue-6/

Speculator

pafpcg wrote: »

It's not a problem!

The Member Only Regular Saver Bond is a separate product to the Regular Saver Bond and there's nothing in the T&C documents to exclude holders of other Principality regular saver accounts. I already have the Regular Saver Bond and my application for a Member Only Regular Saver Bond was accepted and opened today.

I think he meant he is only half way into his 2nd regular so an 18 month member. Needs 2 yrs continuous membership to open the 4% regular but I guess there is no harm in sending an application for the 4% regular to Principality. At worst, they will send you the cheque back.

Speculator

Kernel_Sanders wrote: »

Maybe. I've looked at the T & Cs for Issue 6 and I'm staggered that the interest rate is variable, meaning it can be lowered without you being allowed to move your money out (even with a penalty). I can't remember coming across such an account, ever. This just goes against the grain, and I'd advise people to be wary.
https://www.thenottingham.com/savings/products/special-regular-saver-issue-6/

The Chorley had one some years ago where they lowered the interest halfway into the term and no withdrawals were allowed but it did allow you to reduce the monthly payments thankfully.

glider3560

Kernel_Sanders wrote: »

I've looked at the T & Cs for Issue 6 and I'm staggered that the interest rate is variable, meaning it can be lowered without you being allowed to move your money out (even with a penalty). I can't remember coming across such an account, ever. This just goes against the grain, and I'd advise people to be wary.
https://www.thenottingham.com/savings/products/special-regular-saver-issue-6/

Check out condition 7.7

bigadaj

badger09 wrote: »

That will teach me not to be so quick to 'tidy up' old accounts:o

I've just sent an application by post from the principality offering. Just had a fixed term cash is a mature so I've been a member for a few years, however have also instructed that cash is a to be transferred to an ifisa.

Hopefully the new account will go through before the transfer is completed, a bit touch and go.

Speculator

bigadaj wrote: »

I've just sent an application by post from the principality offering. Just had a fixed term cash is a mature so I've been a member for a few years, however have also instructed that cash is a to be transferred to an ifisa.

Hopefully the new account will go through before the transfer is completed, a bit touch and go.

Why not open a Principality esaver now online just incase they don't receive your application until Monday and your transfer go thru tomorrow. This will ensure there is no break in your membership of Principality.

The online esaver application will ask you for your existing Principality a/c no.

schiff

Kernel_Sanders wrote: »

You must be the only person who's ever achieved this as the Nottingham are notorious for the lack of publicity for new accounts and you were lucky to get a same-day appointment, although branches have discretion over whether they can grant these. In fact some branch based accounts never appear on the website, and I only found out about the Special Regular Saver 5 when another customer mentioned it in-branch.

I was indebted, as is often the case, to the poster who told us about it a week or ten days ago. And my account opening was as easy and quick as it's ever been, apart from Virgin where I'm almost on Christian name terms! I phoned in the morning on Tuesday and the appointment time the same afternoon was quite casual and there was was nobody waiting as I was waiting my turn. It was raining and not very pleasant and the cup of tea was more than welcome to fill my waiting time. I suppose it helped that I'd already got a Tiger RS which was effectively my ID and the staff member didn't even venture into the usual recital of the T&Cs!

btw they are expanding and opening new branches.

EachPenny

schiff wrote: »

I was indebted, as is often the case, to the poster who told us about it a week or ten days ago. And my account opening was as easy and quick as it's ever been, apart from Virgin where I'm almost on Christian name terms! I phoned in the morning on Tuesday and the appointment time the same afternoon was quite casual and there was was nobody waiting as I was waiting my turn. It was raining and not very pleasant and the cup of tea was more than welcome to fill my waiting time. I suppose it helped that I'd already got a Tiger RS which was effectively my ID and the staff member didn't even venture into the usual recital of the T&Cs!

That is almost exactly the same as my experience of Virgin and The Nottingham... in fact so much so I wonder if we are using branches in the same city

Thanks are due to Kazza242 for the tipoff.

schiff

EachPenny wrote: »

That is almost exactly the same as my experience of Virgin and The Nottingham... in fact so much so I wonder if we are using branches in the same city

I don't think Virgin have a branch in Buxton