Regular Savings Accounts: The Best Currently Available List!

[Deleted User]

JamesRobinson48 wrote: »

Last week Cambridge Building Society launched a new RS, Issue 6. The T&Cs look much the same as the preceding Issue 5 which it replaces (2.00% p.a., 12 months, max £300 per month). My reading of the T&Cs (if I'm not mistaken) is that the new Issue 6 can be held in addition to preceding RS issues. In my case, I subscribed to Issue 5 less than two weeks ago and now I'm going for Issue 6 as well. I thought I'd mention this as I haven't seen it on the thread.

This is not a good deal. The interest rate is fixed for a year at 2%. This is the same fixed rate which they were offering for Issue 5 which I took out in August. No allowance given for the recent base rate rise. Worse, once you are in there are no withdrawals allowed, so your money is stuck at 2% for a year from the date of the first deposit. Worse, you can't close the account except with 90 days loss of interest (which will be taken from your capital if you haven't earned enough interest to cover it). Avoid. There will be better deals along very soon, I'm sure.

veryintrigued

Nationwide8 wrote: »

Wonder if TSB will be next ? 2% to 2.5 %

Unfortunately no.

Fixed Rate products will not be affected by this change.

https://www.tsb.co.uk/bank-of-england-base-rates-recent-changes/

badger09

Westie983 wrote: »

Hi all,

Does anyone happen to have the KPI for Issue 8 of the Virgin E Saver?

As per the last one, its not easy to find, can someone help me? I am going to open store one next week and will ask what happens to Issue 1 which matures 1st December.

Alway grateful

Westie983

Westie

I'm confused:o

Do you mean the E Saver, or the Regular E Saver?

The Regular E Saver Issue 1 matured 20th October, and there was no E Saver Issue 1, just the 1st E Saver :cool:

Steve_xx

Deleted_User wrote: »

This is not a good deal. The interest rate is fixed for a year at 2%. This is the same fixed rate which they were offering for Issue 5 which I took out in August. No allowance given for the recent base rate rise. Worse, once you are in there are no withdrawals allowed, so your money is stuck at 2% for a year from the date of the first deposit. Worse, you can't close the account except with 90 days loss of interest (which will be taken from your capital if you haven't earned enough interest to cover it). Avoid. There will be better deals along very soon, I'm sure.

But, you could reduce your monthly payments into it.

Ed-1

veryintrigued wrote: »

Unfortunately no.

Fixed Rate products will not be affected by this change.

https://www.tsb.co.uk/bank-of-england-base-rates-recent-changes/

You can read that as stating the obvious if it's referring to existing fixed rate accounts. But there's nothing stopping TSB from releasing a new fixed rate at 2.5%...

tg99

Westie983 wrote: »

Hi all,

Does anyone happen to have the KPI for Issue 8 of the Virgin E Saver?

As per the last one, its not easy to find, can someone help me? I am going to open store one next week and will ask what happens to Issue 1 which matures 1st December.

Alway grateful

Westie983

I was in store a few days ago to open the new store RS7 and asked about maturity of store RS1 on 1 Dec. I was told a letter should arrive shortly giving the options available and that if you wanted to withdraw the proceeds you need to come into store with your passbook or post your passbook to head office and request electronic transfer to your nominated account etc. However, what I did instead was fill out a customer request form during the appointment stating that I wanted the proceeds of store RS1 to go to my nominated account upon maturity thus saving another trip into store or having to write to head office. My passbook was thus retained and so I was given a photocopy of the relevant page in it showing my current balance for my records.

[Deleted User]

Steve_xx wrote: »

But, you could reduce your monthly payments into it.

You can also stop monthly payments altogether. But any money already deposited will be trapped in the account until the first anniversary of the initial deposit, unless you close early under penalty of 90 days loss of interest. These are very poor terms for a regular saver account. Might be worth it if the interest rate was significantly higher than average but 2% just doesn't do it.

Nationwide8

veryintrigued wrote: »

Unfortunately no.

Fixed Rate products will not be affected by this change.

https://www.tsb.co.uk/bank-of-england-base-rates-recent-changes/

I was thinking maybe TSB will bring out a brand new issue RS,.Too many already around ( or announced for Dec 1st ) that beats their 2%

Kernel_Sanders

So which of these can I apply for right now and still enjoy a rate of at least 2.25% in a month's time, i.e. not those currently offering a fixed rate of 2%? (Already have VM Regular eSaver Issue 7)

Frogletina

Kernel_Sanders wrote: »

So which of these can I apply for right now and still enjoy a rate of at least 2.25% in a month's time, i.e. not those currently offering a fixed rate of 2%? (Already have VM Regular eSaver Issue 7)

VM regular eSaver 8
VM regular branch saver 7

frogletina