Regular Savings Accounts: The Best Currently Available List!

Kernel_Sanders

If it's like the TSB then it's also fixed term in the sense that you cannot open a new one until the term is up, even if you've withdrawn all the money.

steve65e

Kernel_Sanders wrote: »

If it's like the TSB then it's also fixed term in the sense that you cannot open a new one until the term is up, even if you've withdrawn all the money.

TSB, BoS, Lloyds and ClubLloyds RS all work like that. But curiously, Halifax is different. There seems to be no restriction on opening another if you've closed it early.

adindas

steve65e wrote: »

TSB, BoS, Lloyds and ClubLloyds RS all work like that. But curiously, Halifax is different. There seems to be no restriction on opening another if you've closed it early.

For Halifax if you close it earlier. Do you still entitle to the interest until the date of closure ?

badger09

adindas wrote: »

For Halifax if you close it earlier. Do you still entitle to the interest until the date of closure ?

http://www.halifax.co.uk/savings/accounts/fixed-term/regular-saver/

adindas

badger09 wrote: »

http://www.halifax.co.uk/savings/accounts/fixed-term/regular-saver/

Thanks for reply. But it is not clear yet (it has not been spelt out) whether they will pay you interest up to the closing date.

"5. Can I withdraw money?
No.
No withdrawals are allowed unless you’re closing the account.
After 12 months any money you’ve saved (plus interest) transfers into your nominated account, if you have one. If you don’t, we’ll open one for you as part of this application."

I wonder if anyone has personal experience and/or get info directly from Halifax ? It is good to know this option just in case they launch a new regular saver with higher interest rate in the near future.

glider3560

adindas wrote: »

Thanks for reply. But it is not clear yet (it has not been spelt out) whether they will pay you interest up to the closing date.

"5. Can I withdraw money?
No.
No withdrawals are allowed unless you’re closing the account.
After 12 months any money you’ve saved (plus interest) transfers into your nominated account, if you have one. If you don’t, we’ll open one for you as part of this application."

I wonder if anyone has personal experience and/or get info directly from Halifax ? It is good to know this option just in case they launch a new regular saver with higher interest rate in the near future.

Is there any mention of a penalty in the terms? No. So there is no penalty.

badger09

adindas wrote: »

Thanks for reply. But it is not clear yet (it has not been spelt out) whether they will pay you interest up to the closing date.

"5. Can I withdraw money?
No.
No withdrawals are allowed unless you’re closing the account.
After 12 months any money you’ve saved (plus interest) transfers into your nominated account, if you have one. If you don’t, we’ll open one for you as part of this application."

I wonder if anyone has personal experience and/or get info directly from Halifax ? It is good to know this option just in case they launch a new regular saver with higher interest rate in the near future.

glider3560 wrote: »

Is there any mention of a penalty in the terms? No. So there is no penalty.

Is it just me?:wall:

Kim_13

glider3560 wrote: »

Is there any mention of a penalty in the terms? No. So there is no penalty.

They do say that they might apply a charge for accounts that are closed early. I posted the full text in an earlier post: http://forums.moneysavingexpert.com/showpost.php?p=73410187&postcount=6679

glider3560

Kim_13 wrote: »

They do say that they might apply a charge for accounts that are closed early. I posted the full text in an earlier post: http://forums.moneysavingexpert.com/showpost.php?p=73410187&postcount=6679

But there is nothing in the account conditions. That's just some general text about closing accounts.

Special_Saver2

Hi Everybody,

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

- Bank of Scotland Vantage account entry updated to make the current interest rate clear
- Chorley BS Festive Fund account withdrawn and removed from post 3
- Link at the bottom of this post altered so that I can copy and paste the link to the first page easily and correctly every time I do an update

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here