Regular Savings Accounts: The Best Currently Available List!

[Deleted User]

mhoc wrote: »

Very nice timing as the Virgin regular saver 2 matures in December so Virgin regular saver 8 neatly replaces it.

Is this a 14 month account - I've sent the first £250 and then from 01/12/2017 to 01/12/2018 is another 13 monthly payments so £3500 - ??? Have I got this correct?

Most, maybe all, the Virgin Money RS's have been timetabled to allow 14 calendar monthly payments before the maturity date specified in the launch info. Only if you open the account and make the first payment before the end of the calendar month in which the issue is launched, of course. Recent issues have launched between about 10th to 13th of the month, so you have plenty of time to open and make the first payment before the end of the launch month. Issue 8 has launched slightly earlier in the month than recent issues. I was expecting it on Monday of next week.

xylophone

I've just opened and funded issue 8 on line with no problem.

JamesRobinson48

In my opinion the current edition Yorkshire BS RS will have something going for it if (as implied by YBS lately) next month the interest rate is to be increased from 1.75% back up to the original 2.00%. This is a two year RS with monthly max of £500, so worthwhile amounts can be sheltered here.

I opened this RS when it was first released, then closed the account when they cut the rate. But my local YBS branch was more than happy to allow me to open a new account of the same issue last week (different account number), so the two year term has started over again. Actually, allowing people to start the same RS issue again (having previously closed their account) seems to drive a coach and horses through this account's once-per-year withdrawal restrictions.

[Deleted User]

JamesRobinson48 wrote: »

In my opinion the current edition Yorkshire BS RS will have something going for it if (as implied by YBS lately) next month the interest rate is to be increased from 1.75% back up to the original 2.00%. This is a two year RS with monthly max of £500, so worthwhile amounts can be sheltered here.

I opened this RS when it was first released, then closed the account when they cut the rate. But my local YBS branch was more than happy to allow me to open a new account of the same issue last week (different account number), so the two year term has started over again. Actually, allowing people to start the same RS issue again (having previously closed their account) seems to drive a coach and horses through this account's once-per-year withdrawal restrictions.

The T and Cs say that you cannot open a new account until a year has passed from the closing of the previous one.

veryintrigued

Speculator wrote: »

The YBS monthly saver should be paying 2.00% next month so maybe worth opening especially as it allows £500pm and 1 withdrawal.

N&Ps Regular Saver is almost identical and will also be benefitting from the 0.25% raise:

The Society will be adding the full Bank Rate increase of 0.25% to all our variable rate savings accounts with effect from 14th December 2017.

https://www.nandp.co.uk/savings/regular-savings/monthly-regular-saver/?view=Standard

Westie983

Nice maturity date for Christmas 2018

Happy Westie, as my Nationwide matures this months.

Wesrie983

hgt

mhoc wrote: »

I am thinking that the old Yorkshire Building Society regular saver 1 and 2 which are becoming Single Access Saver Unique Edition on December 14th and paying 1.5% variable - I am wondering if they will go up to 1.75% - possibly it will be December before any announcement is made.
I've put my standing order down to £10 for the time being

What I've done with my YBS Regular Saver.... I've cancelled my SO and have already withdrawn the majority of the balance ahead of 14th Dec as they've already paid the bonus interest in advance, and also withdrawals are unrestricted before 14th Dec. Plus there is no longer a requirement for a monthly deposit.

I intend to only leave a token amount in there, then see what happens with the rate going forward, as even though the Single Access Saver only allows one withdrawal per year, it allows deposits at any time (no SO needed, these can be ad-hoc). So my thinking is pretty much clear the account out while I can, then shove money back in if the rate is competitive (I think it's a Max balance on £22 on the Single Access Saver).

If you leave a pretty high balance in there after 14th Dec, it's stuck there for a year unless you close the account.

pafpcg

hgt wrote: »

If you leave a pretty high balance in there after 14th Dec, it's stuck there for a year unless you close the account.

Not quite - with the post-Dec14th Single Access account you can make one withdrawal per year, plus the right to withdraw everything by closing the account.

As these accounts are no longer available, they are outside the scope of this discussion thread - please post in the Yorkshire BS Regular Saver thread here: https://forums.moneysavingexpert.com/discussion/5722669

Special_Saver2

Hi Folks,

Many thanks to all the people who placed useful posts on this thread. Here is this weekend's update.

- Virgin Money Regular E-Saver (Issue 7) updated in post 7 to issue 8 (same details as old issue but maturity date in December for the new issue)
- Virgin Money Regular Saver (Issue 6) updated in post 7 to issue 7 (same details as old issue but maturity date in December for the new issue)
- Yorkshire BS Monthly Regular Saver updated in post 3 with 0.25% interest rate increase from 14th December and link to their website confirming this
- N&P BS Monthly Regular Saver updated in post 3 with 0.25% interest rate increase from 14th December and link to their website confirming this
- Principality BS Member Only Regular Saver Bond paying 4% fixed on up to £250 per month for 12 months to customers who have held a savings or mortgage account with them for 2 years added to post 3
- Santander Regular eSaver (Issue 5) updated to issue 6 in post 5 with a higher interest rate of 3% fixed (was 2.5%) for non-123 customers opening one of these accounts and sustained 5% fixed rate for 123 members

I will do another update the weekend after next.

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

AirlieBird

Leeds BS are increasing all variable rate regular savers to 2.55% from 23 November