Regular Savings Accounts: The Best Currently Available List!

Kazza242

subjecttocontract said:

I don't understand how any regular saver paying 5% can be attractive when there are others paying more.

subjecttocontract said:
It seems to me that the Cambridge BS are just a small provincial BS who are only looking to retain existing local savers and are not looking to attract new money. Their regular saver offerings are so far down the list they hardly warrant a mention......especially on a money saving website.

I think you have misunderstood my earlier post.  I was not posting to highlight the Cambridge BS 5.00% Reward Regular Saver, but rather pointing out that the 'Extra Reward Regular Saver' has up to now paid 1.00% more interest than the 'Reward Regular Saver'.

As the Reward Regular Saver new issue (open to members of 1 year) will be paying 5.00% when it becomes available from 24/10/2023.  In my earlier post, I was wondering whether the Extra Reward Regular Saver (open to members of 3 years or more) will be paying 6.00%.  It didn't make sense for both accounts to be paying the same rate.

I have now heard back from The Cambridge, they are indeed launching a new Extra Reward Regular Saver (issue 2) on 24/10/2023 and it will be paying 6.00%. 

The monthly deposit limit will be increased to £300 per month (earlier issues of this account only permitted £250 per month).  The maximum investment will be £3,600.

They have told me that the new 6.00% RS account details will be uploaded to the Cambridge BS website once it launches. 

pecunianonolet

Kazza242 said:

subjecttocontract said:

I don't understand how any regular saver paying 5% can be attractive when there are others paying more.

subjecttocontract said:
It seems to me that the Cambridge BS are just a small provincial BS who are only looking to retain existing local savers and are not looking to attract new money. Their regular saver offerings are so far down the list they hardly warrant a mention......especially on a money saving website.

I think you have misunderstood my earlier post.  I was not posting to highlight the Cambridge BS 5.00% Reward Regular Saver, but rather pointing out that the 'Extra Reward Regular Saver' has up to now paid 1.00% more interest than the 'Reward Regular Saver'.

As the Reward Regular Saver new issue (open to members of 1 year) will be paying 5.00% when it becomes available from 24/10/2023.  In my earlier post, I was wondering whether the Extra Reward Regular Saver (open to members of 3 years or more) will be paying 6.00%.  It didn't make sense for both accounts to be paying the same rate.

I have now heard back from The Cambridge, they are indeed launching a new Extra Reward Regular Saver (issue 2) on 24/10/2023 and it will be paying 6.00%. 

The monthly deposit limit will be increased to £300 per month (earlier issues of this account only permitted £250 per month).  The maximum investment will be £3,600.

They have told me that the new 6.00% RS account details will be uploaded to the Cambridge BS website once it launches. 

Is this new reg saver for members only or will it be open to all?

PRAISETHESUN

pecunianonolet said:

Kazza242 said:

subjecttocontract said:

I don't understand how any regular saver paying 5% can be attractive when there are others paying more.

subjecttocontract said:
It seems to me that the Cambridge BS are just a small provincial BS who are only looking to retain existing local savers and are not looking to attract new money. Their regular saver offerings are so far down the list they hardly warrant a mention......especially on a money saving website.

I think you have misunderstood my earlier post.  I was not posting to highlight the Cambridge BS 5.00% Reward Regular Saver, but rather pointing out that the 'Extra Reward Regular Saver' has up to now paid 1.00% more interest than the 'Reward Regular Saver'.

As the Reward Regular Saver new issue (open to members of 1 year) will be paying 5.00% when it becomes available from 24/10/2023.  In my earlier post, I was wondering whether the Extra Reward Regular Saver (open to members of 3 years or more) will be paying 6.00%.  It didn't make sense for both accounts to be paying the same rate.

I have now heard back from The Cambridge, they are indeed launching a new Extra Reward Regular Saver (issue 2) on 24/10/2023 and it will be paying 6.00%. 

The monthly deposit limit will be increased to £300 per month (earlier issues of this account only permitted £250 per month).  The maximum investment will be £3,600.

They have told me that the new 6.00% RS account details will be uploaded to the Cambridge BS website once it launches. 

Is this new reg saver for members only or will it be open to all?

Cambs BS

The base RS requires 12 months continuous membership and the extra RS requires 3 years continuous membership. It's nice if you are eligible, but it doesn't appear particularly competitive to me, especially when you factor in the withdrawal restrictions (no withdrawals allowed and early closure is subject to a 90 day interest penalty).

Growingold

Just want to say how impressed I am with Cambridge Building Society.  Ok no access to Regular Saver during the term but maturity spot on.  My RS with them matured today money was already in the account designated with them by the time I logged on early this morning.  Set up withdrawal which happened today and now proceeds of the Regular Saver received into current account and moved outward to different accounts.  Another thing I like about the Cambridge is that is one of the few building societies that shows interest earned to date when you log into your account.  So TOP marks to Cambridge.

Nebulous2

There was some discussion early this year, when the rates went up, about whether to close the club Lloyds RS and start it again at the higher rate. 

I left mine running and it has just matured, with £150.34 in interest. 

Interest appeared overnight and the new 6.25% one has been opened and funded already. 

I've started new regular savers regularly over the past year, and funding them has become a bit of a drag, but that is my first one matured, so they will be self-funding from now on. 

Growingold

PRAISETHESUN said:

pecunianonolet said:

Kazza242 said:

subjecttocontract said:

I don't understand how any regular saver paying 5% can be attractive when there are others paying more.

subjecttocontract said:
It seems to me that the Cambridge BS are just a small provincial BS who are only looking to retain existing local savers and are not looking to attract new money. Their regular saver offerings are so far down the list they hardly warrant a mention......especially on a money saving website.

I think you have misunderstood my earlier post.  I was not posting to highlight the Cambridge BS 5.00% Reward Regular Saver, but rather pointing out that the 'Extra Reward Regular Saver' has up to now paid 1.00% more interest than the 'Reward Regular Saver'.

As the Reward Regular Saver new issue (open to members of 1 year) will be paying 5.00% when it becomes available from 24/10/2023.  In my earlier post, I was wondering whether the Extra Reward Regular Saver (open to members of 3 years or more) will be paying 6.00%.  It didn't make sense for both accounts to be paying the same rate.

I have now heard back from The Cambridge, they are indeed launching a new Extra Reward Regular Saver (issue 2) on 24/10/2023 and it will be paying 6.00%. 

The monthly deposit limit will be increased to £300 per month (earlier issues of this account only permitted £250 per month).  The maximum investment will be £3,600.

They have told me that the new 6.00% RS account details will be uploaded to the Cambridge BS website once it launches. 

Is this new reg saver for members only or will it be open to all?

Cambs BS

The base RS requires 12 months continuous membership and the extra RS requires 3 years continuous membership. It's nice if you are eligible, but it doesn't appear particularly competitive to me, especially when you factor in the withdrawal restrictions (no withdrawals allowed and early closure is subject to a 90 day interest penalty).

Usually the Cambridge RS's are fixed interest rates unless the new ones will be any different.  So personally for me on an Extra RS at 6% fixed I will probably go for it.  There may be some better rates available but a lot are variable and may well come down during the term.  I seem to remember Hinckley and Rugby did shortly after launch before increasing again but only to 5.25%.

surreysaver

subjecttocontract said:

Just heard about a new Principality reg saver.....Maturity Winter Regular Saver Bond available to those with a maturing regular saver. £125 pcm max @ 6.25%

Just got my paperwork through for my maturing Christmas Regular Saver. Nothing about a Winter Regular Saver, they're just offering the Issue 33 Regular Saver which I've already got 

EDIT just logged online and the Winter Regular Saver is one of the choices for the maturity instructions 

friolento

surreysaver said:

subjecttocontract said:

Just heard about a new Principality reg saver.....Maturity Winter Regular Saver Bond available to those with a maturing regular saver. £125 pcm max @ 6.25%

Just got my paperwork through for my maturing Christmas Regular Saver. Nothing about a Winter Regular Saver, they're just offering the Issue 33 Regular Saver which I've already got 

Are you sure? My renewal paperwork (now shredded) did list the Winter Regular Saver, and they have confirmed my request to start one of these with £125 on the day my Xmas Saver matures. I did send them my request via Online Messaging.

surreysaver

friolento said:

surreysaver said:

subjecttocontract said:

Just heard about a new Principality reg saver.....Maturity Winter Regular Saver Bond available to those with a maturing regular saver. £125 pcm max @ 6.25%

Just got my paperwork through for my maturing Christmas Regular Saver. Nothing about a Winter Regular Saver, they're just offering the Issue 33 Regular Saver which I've already got 

Are you sure? My renewal paperwork (now shredded) did list the Winter Regular Saver, and they have confirmed my request to start one of these with £125 on the day my Xmas Saver matures. I did send them my request via Online Messaging.

I've edited my post. Perhaps my paperwork was sent out before they offered the Winter Regular Saver 

It also looks like I'll keep the same account details if opening the Winter Regular Saver 

alibean121

Thanks for the tip on opening another FD savings account if it may speed up getting the funds out the RS. I've made a request to open one now. I'm always shocked how backwards they are as a bank, you have to do this over chat and it's said to take 5 days. I'd rather have this 5 day wait now than when I'm trying to get my RS funds though.