Regular Savings Accounts: The Best Currently Available List!

eezydeals

My apologies for misreading the info.


Many thanks and kind regards
eezydeals

Nick_C

Special_Saver2 wrote: »

The Yorkshire BS Internet Saver highlighted on this thread ended up later being recommended by Martin in his weekly e-mail this week.

Just goes to show, this thread is one of the best and most useful on the savings forum, and I can't understand why the mods don't make it a sticky!

Special_Saver2

What do you folks think about the following accounts for inclusion on the best feeder account section?

1. Northern Rock Tracker Online
   Paying 6.49% gross p.a. (including a first year bonus). I suspect it can allow BACS payments direct to any account you specify (without penalty and without having to go via a current account).
   
   Quote:
   Tracker Online is an online savings account that offers a simple and convenient way to organise your savings, at any time, day or night.
   You can view your current balance and get access to your statements, as well as arranging withdrawals and transfering funds. You can also make as many withdrawals as you like, charge-free (unless you opt for a CHAPS transfer, where the charge will be £35).
   With Tracker Online, the interest rate is variable and guaranteed to be no lower than 0.50% below the UK Bank Base Rate until further notice*.
   *Rate guarantee applies to annual rate. Monthly rate is 0.25% below the annual rate

I am not sure, but if I am reading the terms and conditions correctly, then the rate is guaranteed to be Bank (of England?) Base Rate minus 0.50% plus 1.24% first year bonus = base rate + 0.74% = 6.24% minimum at the moment (Bank of England being 5.5% at the time of writing this post). That sounds like a very good base rate guarantee for the first year to me.

[STRIKE]2. Kaupthing Edge Savings Account

Currently paying 6.50% gross p.a.

I hadn’t heard of this bank before. I found the details on another thread thanks to bristolleedsfan, definitely worth reading that thread if you are considering this account.

Minimum £1,000. Interest rate guarantee of Bank of England Base Rate + 0.30% until 1st February 2012.

Quote:

The savings account gives you fast access to your savings – you may make withdrawals and deposits whenever you wish. To obtain the highest interest that we offer at any given time, you must have at least £1000 in your savings account.

Benefits deriving from a Kaupthing Edge savings account:

• Simple and transparent terms
• Access to your account around the clock via the Internet
• Online and telephone support during office hours

[/STRIKE]

Edit: Sorry, forget that second account - have managed to find on the FAQ pages (here and here) that this account requires a linked current account.

Do any of you have one of these accounts? Would you recommend them? Would they work as a good feeder account?
I managed to put every spare penny I have into one of those Northern Rock Fixed Rate Access Issue 1 bonds before it closed so I have no money to feed into regular savings accounts at the moment but maybe the information to the above questions will help somebody else.

Special_Saver2

I have also had a quick look at the First Bank of Nigeria's FirstSave account which pays 6.5% and which Martin mentioned in his weekly e-mail but that is not suitable as a feeder account as all money needs to go via a nominated account.

Cozworth806

Haven't seen it mentioned anywhere else, but Scarborough have a "City Saver" reg savings £10-100pm. Pays 10%
It is cash or cheque deposit only, and is designed for people who work in Leeds. Presume it is to get people into the new branch on Albion Street (top end)

Special_Saver2

Cozworth806 wrote: »

Haven't seen it mentioned anywhere else, but Scarborough have a "City Saver" reg savings £10-100pm. Pays 10%
It is cash or cheque deposit only, and is designed for people who work in Leeds. Presume it is to get people into the new branch on Albion Street (top end)

Hi Cozworth806. Thanks for that but I cannot find details anywhere on their website. I have tried searching by keywords and have also looked on the regular savings page but all I can find are the My Savings, My Savings ISA and Christmas Saver 2008 accounts.

Is this something that is only being offered in branches locally? Or just in the Albion Street branch?

ViksB

Special Saver 2
There is mention of it half way down on page 2 of this link
http://www.scarboroughbs.co.uk/media/complianceboard.pdf
It seems that it is just in the Leeds Albion St branch.

Viks

YorkshireBoy

Special_Saver2 wrote: »

What do you folks think about the following accounts for inclusion on the best feeder account section?

1. Northern Rock Tracker Online
   I suspect it can allow BACS payments direct to any account you specify (without penalty and without having to go via a current account).

Might be a bit 'messy', depending on how easy it is to change your nominated account online. See condition 4(c)...

http://www.northernrock.co.uk/downloads/tracker_online_tandc_301107.pdf

Sunnysider

Sorry posted this in the main savings forum but been advised more appropriate here so copied below...


Can't see this posted anywhere but this seems like a v good deal to me. Currently on homepage here http://www.firstdirect.com/index.html First Direct are offering a regular savings account for £25 - £300 a month at 8% AER works out at 6.4% after basic rate tax which is better than anything I've seen offered.

Downsides are that it is limited to £300 per month and you only get that rate if you don't make any withdrawals in the year. Also rate drops after the 12 month period.

To me though it seems as if for the next year the first £300 of my savings should go here each month as net rate is comparable to HiSave Gross (who I also use) and NR Bond where I've just put a load of money? If I were not a higher rate tax payer this could possibly beat ISA rates for those who pay in bit by bit each month... (but not if you wanted to keep it invested beyond the year)

mary

If you check, this account is already highlighted here in this thread
http://forums.moneysavingexpert.com/showpost.html?p=6932833&postcount=5
It's under Section 5 of the main page Accounts which mature after 12 months and require another account.