Regular Savings Accounts: The Best Currently Available List!

Eco_Miser

subjecttocontract said:

wiseonesomeofthetime said:

tg99 said:

Have not always saved copies of my regular saver terms and conditions but have got on my notes that the likes of Skipton, principality, ybs have the max £3k / £6k so no ‘13th payment’ would be allowed. And no 13th for First Direct either. Whereas no limit for Nationwide start to save issue 2 so could do a 25th here. Does the Coventry first home saver allow a 37th payment? Thks 

From the first edition Coventry FHS T&C:

4.3 If you open your account part-way through a month you may still deposit up to £1,000 until the end of that calendar month Likewise if your account term ends part-way through a month you may still deposit up to £1,000 in the final calendar month up until the date your account term ends This means that if you open your account on the 1st of a month your maximum balance is £36,000. If you open your account on any other day of the month your maximum balance is £37,000.

(Bold emphasis, mine)

But that 37th payment is only paying about 15p a day. Not worth getting excited about, is it ?

So with the correct timing, about £4.50 extra then.

@wiseonesomeofthetime's emphasized condition shows that Coventry knows about and expects the 13th/37th payment 'trick', and I'm sure all the other institutions that use calendar months do too.  

Snapdragon

Yorkshire Building Society Loyalty Regular Saver
I'm hoping it will still be available when I become eligible however I'm actually not sure exactly when that will be. You have to have been a member for 12 months and I know when I applied for the Rainy Day account which is my oldest account with them, however I didn't fund it immediately, first deposit was a couple of weeks later. I'm therefore wondering whether the 12 months required for the Loyalty accounts will be from when it was opened or when it was funded and can't see any clues on the account.
Anyone able to advise how I tell when I will become eligible or is it just a 'try applying on the anniversary of opening the RDS' and see what happens? 

pookey

littlemissmoney said:

Is anyone else having issues opening the YBS 7% account (as an existing customer)? I keep getting an error. I have sent them a message but it's the kind of thing MSE forum answers quicker

I managed to open it the first evening it was mentioned in the group and managed to fund it the next day. 

subjecttocontract

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

flaneurs_lobster

subjecttocontract said:

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

It's not having been a member for a year per se that decides eligibility, it's having had a savings (or mortgage) account open for "at least 12 continuous and consecutive months prior to the date of application". 

subjecttocontract

flaneurs_lobster said:

subjecttocontract said:

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

It's not having been a member for a year per se that decides eligibility, it's having had a savings (or mortgage) account open for "at least 12 continuous and consecutive months prior to the date of application". 

I didn't think you could be a member of the YBS without a savings or mortgage product.
Is there a difference ?

Nick_C

flaneurs_lobster said:

subjecttocontract said:

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

It's not having been a member for a year per se that decides eligibility, it's having had a savings (or mortgage) account open for "at least 12 continuous and consecutive months prior to the date of application". 

Same thing.  If you have had an account with them for 12 months, then you have been a member for 12 months, and vv.

Not sure why you are trying to muddy the waters. 

And it doesn't have to have been the same account. 

PRAISETHESUN

subjecttocontract said:

flaneurs_lobster said:

subjecttocontract said:

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

It's not having been a member for a year per se that decides eligibility, it's having had a savings (or mortgage) account open for "at least 12 continuous and consecutive months prior to the date of application". 

I didn't think you could be a member of the YBS without a savings or mortgage product.
Is there a difference ?

An extreme example but you could have had multiple overlapping accounts, each less than 12 months in term, but this would provide continuous membership of the society without necessarily meeting a requirement to hold a single account for 12 months.

In practice, YBS seem to err in the favour of the customer, so you'll probably find 12 months continuous membership sufficient.

flaneurs_lobster

subjecttocontract said:

flaneurs_lobster said:

subjecttocontract said:

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

It's not having been a member for a year per se that decides eligibility, it's having had a savings (or mortgage) account open for "at least 12 continuous and consecutive months prior to the date of application". 

I didn't think you could be a member of the YBS without a savings or mortgage product.
Is there a difference ?

Nick_C said:

flaneurs_lobster said:

subjecttocontract said:

Are you sure you've been a member of YBS for at least 1 year ?
I will be posting my application to YBS with a cheque on Thursday cos that's my 1 year membership date. It will be interesting to see how long it takes.

It's not having been a member for a year per se that decides eligibility, it's having had a savings (or mortgage) account open for "at least 12 continuous and consecutive months prior to the date of application". 

Same thing.  If you have had an account with them for 12 months, then you have been a member for 12 months, and vv.

Not sure why you are trying to muddy the waters. 

And it doesn't have to have been the same account. 

If (say) the only product held with YBS was a 1 year account that matured 6 months ago which was replaced the same day with another account still exult then you would have been a member for more than a year but would not qualify for the RS under discussion here. The T&Cs make no mention of Membership.

This was my opinion, not found to be true in actual successful applications. 

Nick_C

YBS.  The T&Cs do not say it has to be one account open for 12 months.  It is open to interpretation.  And YBS interpret the rule generously.

I opened the Loyalty ISA in March 23, and the Loyalty RS last week.  Two different branches.  On each occasion, I did not have an account that had been open for a year, but I have been a member continuously for 16 years.

Your opinion is inaccurate and unhelpful, as it could put people off from applying.