Regular Savings Accounts: The Best Currently Available List!

friolento

OneUser1 said:

The Cambridge 6% regular saver (for 3 Year members) is on their web site. Application by branch, phone or mail. No on-line applications. 

Edit to add: Only allowed one Regular Saver of any type at any time so if you have an existing Regular Saver with them you cannot get this as well. Counts me out (for now)

You can't open the 6% one if you already have their 5% Extra Reward RS. Upon maturity of the 5% one, you are likely to be offered the 6% one automatically.

surreysaver

Not sure I can be bothered with the faff of ringing up just for 6%.  Perhaps you'll be able to apply online in due course 

Kazza242

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. 

I called The Cambridge earlier today about the new Extra Reward Regular Saver 6.00% (issue 2), which launched today, as mentioned in my post from 20th October (above).  They opened the account for me within 5 minutes.  Great service!  

Bridlington1

It appears in addition to replacing the tiered interest of their First Home Steps Account with a flat rate of 5.25%, Principality BS will soon be launching a First Home Steps Account Online Issue 3 to replace Issue 2.

I don't know if there are any differences in account terms compared to issue 2 yet but I thought I'd mention it anyway.

Gers

Bridlington1 said:

It appears in addition to replacing the tiered interest of their First Home Steps Account with a flat rate of 5.25%, Principality BS will soon be launching a First Home Steps Account Online Issue 3 to replace Issue 2.

I don't know if there are any differences in account terms compared to issue 2 yet but I thought I'd mention it anyway.

All three still showing up to 4.80% on their website as are my issues 1 and 2 when logged in. Perhaps it'll change soon.

Wheres_My_Cashback

Gers said:

Bridlington1 said:

It appears in addition to replacing the tiered interest of their First Home Steps Account with a flat rate of 5.25%, Principality BS will soon be launching a First Home Steps Account Online Issue 3 to replace Issue 2.

I don't know if there are any differences in account terms compared to issue 2 yet but I thought I'd mention it anyway.

All three still showing up to 4.80% on their website as are my issues 1 and 2 when logged in. Perhaps it'll change soon.

New rate is from tomorrow 26th.

Growingold

I just rang the Cambridge to open their new Extra Reward Regular Saver at 6%.  Took nearly 30 minutes!!!  Declined offer of making a deposit by debit card as I thought bank transfer would earn interest quicker.  However account not recognised yet with my bank .  Hopefully will update overnight.

wmb194

Growingold said:

I just rang the Cambridge to open their new Extra Reward Regular Saver at 6%.  Took nearly 30 minutes!!!  Declined offer of making a deposit by debit card as I thought bank transfer would earn interest quicker.  However account not recognised yet with my bank .  Hopefully will update overnight.

Cambridge uses a collection account at Barclays so it won't be recognised as belonging to you. if you make the payee 'Cambridge Building Society' and tick the 'business' box it should confirm that it belongs to Cambridge. Cambridge then uses the reference to allocate the money to your account with it.

Section62

Growingold said:

I just rang the Cambridge to open their new Extra Reward Regular Saver at 6%.  Took nearly 30 minutes!!!  Declined offer of making a deposit by debit card as I thought bank transfer would earn interest quicker.  However account not recognised yet with my bank .  Hopefully will update overnight.

I made the bulk of my first deposit by debit card yesterday, and today the amount of accrued interest showing could only mean they have treated the card deposit as earning interest from yesterday.

pookey

Regarding the NW 8% MS:
Can I open it at the end of the month and set up a SO for the 1st of the following month? Or does it need to follow the same date each month please? 


Also, if that works, if i open and fund the account on the 30th, is that enough time for the money to clear by bank transfer for October so i can do the SO from the 1st November please?