Regular Savings Accounts: The Best Currently Available List!

Gambit

Thanks for all the responses guys! :beer:

Sorry, should have added some more info to clarify what my plans are. I already have a bit of a deposit saved up and so looking to jump onto the property ladder in the next year.

jimbow25 wrote: »

However the point of saying "use up your ISA allowance first" is that that money will earn tax free interest not just this year, but for as long as it is there. So you should consider how long term your savings are.

I know ISA rates are poor at the moment but if you are saving up for a few years like I hope, assuming rates do eventually pick up, it is best to use your allowance every year. If you are taking your money out and spending it all on 5th April 2010 then yes go for the best net rate!

Yeah, I see why ISAs are good for long term savings in that respect then but as I'm hoping (fingers crossed) to buy in the next year or so then I think I should go for the regular savers.

Biggles wrote: »

The other point I think you are missing is that, if you put £3,000 into a regular saver spread over 12 months, you are only earning your interest of 5% on about £1,500 of that, on average (you will only have £3,000 in the account for the last month), and then you will have to start all over again.

With an ISA, apart from the advantages already pointed out, you would earn the 4% on the whole £3,000 from Day 1.

Good point Biggles although if I go for this Abbey First Home Saver I'll be able to open it with up to £5000 which would mean I get the interest of this at 5% from day one instead of dripping it into a normal regular saver. That's why I'm so tempted by this account... even though it is Abbey! :think:

Special_Saver2

Hi Everybody,

I have added in the Buckinghamshire BS Chiltern Gold Mine account to the top of post 4 and I have added a note in the entry on the NatWest / RBS regular savings accounts to say that you can hold one of each of these accounts (as reported by steveteach in post 800).

There is nothing else to add or remove for this weekend's update.

See you again next weekend. Have a good week.

SS2

sparkys_machine

Any news cracking on the halifax regular saver? Surely got to be going up as a response from all those people who decided not to continue when the 10% bailed out............... aw c'mon, your not telling me you carried on with the 5%?

withnell

sparkys_machine wrote: »

Any news cracking on the halifax regular saver? Surely got to be going up as a response from all those people who decided not to continue when the 10% bailed out............... aw c'mon, your not telling me you carried on with the 5%?

The Guaranteed Reward account thing for current a/c customers has reduced interest as of 7th - I think that this has been confused with the reg saver

ctdctd

Bucks 6.25% RS now pulled.

http://www.bucksbuildingsociety.co.uk/investments/chiltern_gold_mine.asp

This account is no longer available.

mary

That was short lived. Posted mine off yesterday

Biggles

ctdctd wrote: »

Bucks 6.25% RS now pulled.

http://www.bucksbuildingsociety.co.uk/investments/chiltern_gold_mine.asp

This account is no longer available.

Got my acknowledgement this morning, they said they had received a large number of applications, so wouldn't be able to issue the account documentation for a week or two.

Special_Saver2

I have updated post 4 with the information on the Buckinghamshire BS Chiltern Gold Mine account. The new issue 2 paying 5.50% is now up on their website - see here.

SS2

mary

Your link takes you to the same 6.25% and doesn't mention anywhere the 5.5%, as far as I can see.

ctdctd

Noticed as I walked past a branch in London today that the poster in the window said something like:-

Open and fund account by October 3rd

So I guess the 5% rate is ending shortly - open soon if you want one!