Regular Savings Accounts: The Best Currently Available List!

friolento

DJDools said:

The Yorkshire Building Society Christmas 2023 Regular E-Saver account matures in a few days on 31st October 2023. I believe it reverts into an Access Saver on maturity. Just out of curiosity, is anyone worth bothering with opening YBS's Regular e-Saver at 5.25% (assuming not eligible for the 7% Loyalty RS)?

I believe you can have both, the 5.25% and the 7% one. I have the XMAS saver maturing, too, and I won't go for the 5.25% one as I can get 6% in a 1-year fixed rate account, or I will just keep my £3k in a 5.2% or 5.25% easy access account.

Bazzalona13295

DJDools said:

The Yorkshire Building Society Christmas 2023 Regular E-Saver account matures in a few days on 31st October 2023. I believe it reverts into an Access Saver on maturity. Just out of curiosity, is anyone worth bothering with opening YBS's Regular e-Saver at 5.25% (assuming not eligible for the 7% Loyalty RS)?

I'll either continue to top up my ISA allowance (very probable) or just leave it in the Santander 5.2% EA account.
Got to a point where I have enough (too many) regular savers so if I can cut down on those I will.

Angelica123

DJDools said:

The Yorkshire Building Society Christmas 2023 Regular E-Saver account matures in a few days on 31st October 2023. I believe it reverts into an Access Saver on maturity. Just out of curiosity, is anyone worth bothering with opening YBS's Regular e-Saver at 5.25% (assuming not eligible for the 7% Loyalty RS)?

I am at the point where I have enough regular savers that will mature in approx 1 year's time to push me close to the PSA limit in next year's tax year so I am not looking to open any further regular savers. I will keep minimum amount left in access saver to make me eligible for loyalty products in the future.

Bridlington1

DJDools said:

The Yorkshire Building Society Christmas 2023 Regular E-Saver account matures in a few days on 31st October 2023. I believe it reverts into an Access Saver on maturity. Just out of curiosity, is anyone worth bothering with opening YBS's Regular e-Saver at 5.25% (assuming not eligible for the 7% Loyalty RS)?

I've been fully funding all 3 of those regular savers since they were each launched and will be fully funding the 5.25% one this month, although I'll have to fund it later in the month than usual due to my exhausting my EA accounts and the fact that I have some funds due to be arriving from a 90 day notice account in the first half of November. From December onwards it will probably get put on minimal funding though since by that point I expect to run out of money in EA accounts so I'll be emptying regular savers to fill other ones up from that point.

With regular savers that allow penalty free withdrawals online, if the rate is around the same as my top EA account and I have spare funds I tend to favour funding the regular saver as it takes a while to build up the balance of a regular saver but it is often very quick to empty if needed so it just hedges my bets a bit in case the account becomes more competitive in the future.

pookey

Angelica123 said:

DJDools said:

The Yorkshire Building Society Christmas 2023 Regular E-Saver account matures in a few days on 31st October 2023. I believe it reverts into an Access Saver on maturity. Just out of curiosity, is anyone worth bothering with opening YBS's Regular e-Saver at 5.25% (assuming not eligible for the 7% Loyalty RS)?

I am at the point where I have enough regular savers that will mature in approx 1 year's time to push me close to the PSA limit in next year's tax year so I am not looking to open any further regular savers. I will keep minimum amount left in access saver to make me eligible for loyalty products in the future.

I'm in a similar situation, I've maxed out this year's ISA allowance. 

I think i might just carry on with the monthly savers anyway because if the rates drop i might not use all my PSA. If it doesn't drop, then 80% of something is better then 100 of nothing 🤣

KneadtheDough

Bridlington1 said:

With regular savers that allow penalty free withdrawals online, if the rate is around the same as my top EA account and I have spare funds I tend to favour funding the regular saver as it takes a while to build up the balance of a regular saver but it is often very quick to empty if needed so it just hedges my bets a bit in case the account becomes more competitive in the future.

That's a good point. I think the YBS RS allows two withdrawals, plus closure. So it might be worth opening, and see what happens to the rate.

friolento

DJDools said:

Bridlington1 said:

With regular savers that allow penalty free withdrawals online, if the rate is around the same as my top EA account and I have spare funds I tend to favour funding the regular saver as it takes a while to build up the balance of a regular saver but it is often very quick to empty if needed so it just hedges my bets a bit in case the account becomes more competitive in the future.

That's a good point. I think the YBS RS allows two withdrawals, plus closure. So it might be worth opening, and see what happens to the rate.

The Paragon Double Access account is a better alternative than the YBS RS as it comes without restriction on the monthly deposit amount. 

https://www.paragonbank.co.uk/savings/double-access-account

Bigwheels1111

I’m up to £1500 a month for regular savers.
EA will be drained to £10 on the 1st of November.
But my fixed rates should pay out mid way through November.
That should give me enough spare cash to fund them until their year is up.
Depending on rates it will then begin again.
Round and round they go.
I’ve decided not to fund any less than 6%.

Kim_13

DJDools said:

Bridlington1 said:

With regular savers that allow penalty free withdrawals online, if the rate is around the same as my top EA account and I have spare funds I tend to favour funding the regular saver as it takes a while to build up the balance of a regular saver but it is often very quick to empty if needed so it just hedges my bets a bit in case the account becomes more competitive in the future.

That's a good point. I think the YBS RS allows two withdrawals, plus closure. So it might be worth opening, and see what happens to the rate.

Varies by account.

2 withdrawal days for the Regular 5.25% version and 1 for the Loyalty.

where_are_we

Like Bridlington I have all 3 YBS RS`s. Loyalty RS@7% fully funded. RS @5.25% variable fully funded and treated as an EA account but will withdraw all but £1 if a better paying EA account (than my Santander EA @5.2%) comes along. Hopefully, there will be a new Xmas 2024 RS with a competitive rate to replace the old maturing 2023 RS.