Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

Here is this weekend's update:

- Dunfermline BS Monthly Saver Issue 5 withdrawn as reported by emoneyfacts
- Buckinghamshire BS Chiltern Gold Builder entry modified to show that you can open this in addition to an existing Gold Mine account as reported in the post above

I shall do another update next weekend.

Happy holidays everybody!

SS2

Special_Saver2

Hi Everybody,

I can only find one thing that has changed - Britannia BS has withdrawn its Co-operative voucher offer with the Easy Monthly Saver account. As the interest rate is only 2.1% without this voucher, I have removed it from the list.

I hope you are all having a happy holiday season.

I will do another update next weekend.

All the best,
SS2

Special_Saver2

Hi Folks,

I have just found another Christmas saver. This one is from the Yorkshire Building Society. These are the details that I have added to post 7.

Yorkshire BS Christmas Saver

Interest rate: 3.5% gross p.a. fixed
Monthly payment: Minimum opening balance £10, can make payments as and when you wish subject to maximum balance of £1,200
Miss any payments: Yes, see above
Penalty-free withdrawals: No, you cannot make any withdrawals until 1st December 2010 (except in the case of critical illness, terminal illness, death of an account holder or by court order)
How to open account: Branch or post
Special conditions: Transfers from other YBS accounts are permitted. On 1st December 2010, the balance will be transferred to an easy access account paying a much lower interest rate. If you exceed the £1,200 maximum balance then the whole balance will be transferred to an easy access account.

If I am reading the details on their website correctly then you could be sneaky and use this as a fixed rate 3.5% instant access account for £1,200. You could open the account with £1,200. Then if you need the money back, you could add £1 and the entire balance would be transferred to an easy access account without any interest penalty.

Of course this is against the spirit of what Yorkshire BS intended and I guess that if lots of people started doing this then they might change the terms and conditions. Also, it is possible that the detailed terms and conditions prevent this.

The other possible sneaky use of this account would be to open it with £10 and then if 3.5% seems a very attractive interest rate next year then you could add £1,190 whenever you wish.

Alternatively, you could use this account as a £100 per month regular saver. I think that is what Yorkshire BS intended!

All the best,
SS2

Calchas

Have you got this one?

http://www3.firstdirect.com/savings/regular-saver-overview.shtml

A maximum of £300 per month, 5% interest and must have a current account.

opinions4u

RayWolfe wrote: »

Always distrust any account with GOLD in the name!
Can you still get a Halifax Liquid Gold? As marked by Arthur Daily <sp>

Not only does the account still exist, but they opened around a thousand a week in the fairly recent past.

No idea what the sales numbers are like post Credit-Crunch, but the key feature of having a passbook is something that a proportion of customers would prioritise as being more important than a decent interest rate!

jimbow25

Calchas wrote: »

Have you got this one?

http://www3.firstdirect.com/savings/regular-saver-overview.shtml

A maximum of £300 per month, 5% interest and must have a current account.

Yes it's in post 5

JimLad

Well folks i just made the last payment of £500 into my halifax monthly saver that was fixed at 5% for a year so im looking for the best place to continue savings.

Does anybody have any recommendations?

I want to save £500 a month (600 if poss) and no withdrawls will be made all year )

LittleVoice

Try reading through the first few posts of the thread: you may find you need to split your £500 into two lots of £250.

MarkFromCornwall

JimLad wrote: »

Well folks i just made the last payment of £500 into my halifax monthly saver that was fixed at 5% for a year so im looking for the best place to continue savings.

Does anybody have any recommendations?

I want to save £500 a month (600 if poss) and no withdrawls will be made all year )

The Principality Building Society's One Year Regular Saver Bond at 4.5% is worth considering (up to £500 a month and they are nice people to deal with).

Mark

RayWolfe

opinions4u wrote: »

Not only does the account still exist, but they opened around a thousand a week in the fairly recent past.

No idea what the sales numbers are like post Credit-Crunch, but the key feature of having a passbook is something that a proportion of customers would prioritise as being more important than a decent interest rate!

Which proves the fact that "There's nowt as queer as folk"! :rolleyes: