Regular Savings Accounts: The Best Currently Available List!

Bridlington1

OneUser1 said:

Bridlington1 said:

Bobblehat said:

Bridlington1 said:

I've just spoken to Coventry BS.
Their new loyalty rate regular saver will pay 7% variable
£250 max monthly deposit
Withdrawals/early closure subject to 30 day interest penalty

Sounds good ..... did you happen to ask if you could run this one and still run the 5.5% RS as well?

You can have both. Also some further details to add in addition to my original post:
The account will be launched on Tuesday 28/11/23.
The account runs on an account month basis so if you opened it on 28/11/23 and deposited the maximum amount, you couldn't deposit further funds until 28/12/23 so no 13th payment is possible on this occasion. I have now added these details to my original post.

Speaking as someone who likes to worry, that’s a worry. Open the account 28/11 and then set up a standing order for 28/12? Right at the end of December with weekends and Bank Holidays on the way! Not ideal timing. 

Option to wait until 1/12 to open the account but then could it be withdrawn? The recent Monmouthshire 7% went pretty quick as I recall.

28/12/23 is a Thursday and not a bank holiday to my knowledge so if I'm not mistaken SOs should still go out on 28/12/23. The other option is to forgo the SO and just make your deposits manually.

surreysaver

OneUser1 said:

Bridlington1 said:

Bobblehat said:

Bridlington1 said:

I've just spoken to Coventry BS.
Their new loyalty rate regular saver will pay 7% variable
£250 max monthly deposit
Withdrawals/early closure subject to 30 day interest penalty

Sounds good ..... did you happen to ask if you could run this one and still run the 5.5% RS as well?

You can have both. Also some further details to add in addition to my original post:
The account will be launched on Tuesday 28/11/23.
The account runs on an account month basis so if you opened it on 28/11/23 and deposited the maximum amount, you couldn't deposit further funds until 28/12/23 so no 13th payment is possible on this occasion. I have now added these details to my original post.

Speaking as someone who likes to worry, that’s a worry. Open the account 28/11 and then set up a standing order for 28/12? Right at the end of December with weekends and Bank Holidays on the way! Not ideal timing. 

Option to wait until 1/12 to open the account but then could it be withdrawn? The recent Monmouthshire 7% went pretty quick as I recall.

Its based on an account month, so you'll have until 28th January to make December's payment. Plus the Coventry takes ages to open an account, so the earliest you'll have the account details will probably be 7-10 days after the launch anyway 

Aidanmc

flaneurs_lobster said:

allegro120 said:

subjecttocontract said:

What's the criteria for qualifying for the loyalty reg saver ?

We'll have to see when the product is released, but usually it is 1 year of continuous membership.

From email received yesterday Coming soon We're rewarding loyalty again - keep a look out on our website during next week for the launch of our Loyalty Regular Saver*, which is our fourth and final loyalty product of the year.

*To be able to open this account, you'll need to have held or been linked to a savings or mortgage account with Coventry Building Society, ITL or Godiva continuously since 01 January 2022 or earlier.

I wonder if its only eligible customers that received the email.

I didn't receive one. I'm not sure if i actually had any accounts with Coventry continuously since Jan 22.

Snapdragon

Aidanmc said:

flaneurs_lobster said:

allegro120 said:

subjecttocontract said:

What's the criteria for qualifying for the loyalty reg saver ?

We'll have to see when the product is released, but usually it is 1 year of continuous membership.

From email received yesterday Coming soon We're rewarding loyalty again - keep a look out on our website during next week for the launch of our Loyalty Regular Saver*, which is our fourth and final loyalty product of the year.

*To be able to open this account, you'll need to have held or been linked to a savings or mortgage account with Coventry Building Society, ITL or Godiva continuously since 01 January 2022 or earlier.

I wonder if its only eligible customers that received the email.

I didn't receive one. I'm not sure if i actually had any accounts with Coventry continuously since Jan 22.

Think that is more likely related to notification settings with Coventry. I've definitely had continuous Coventry accounts since 2020 but didn't receive the email. However I tend to opt out of marketing notifications, perhaps they would be useful after all.

francoghezzi

surreysaver said:

OneUser1 said:

Bridlington1 said:

Bobblehat said:

Bridlington1 said:

I've just spoken to Coventry BS.
Their new loyalty rate regular saver will pay 7% variable
£250 max monthly deposit
Withdrawals/early closure subject to 30 day interest penalty

Sounds good ..... did you happen to ask if you could run this one and still run the 5.5% RS as well?

You can have both. Also some further details to add in addition to my original post:
The account will be launched on Tuesday 28/11/23.
The account runs on an account month basis so if you opened it on 28/11/23 and deposited the maximum amount, you couldn't deposit further funds until 28/12/23 so no 13th payment is possible on this occasion. I have now added these details to my original post.

Speaking as someone who likes to worry, that’s a worry. Open the account 28/11 and then set up a standing order for 28/12? Right at the end of December with weekends and Bank Holidays on the way! Not ideal timing. 

Option to wait until 1/12 to open the account but then could it be withdrawn? The recent Monmouthshire 7% went pretty quick as I recall.

Its based on an account month, so you'll have until 28th January to make December's payment. Plus the Coventry takes ages to open an account, so the earliest you'll have the account details will probably be 7-10 days after the launch anyway 

7-10 days?? I've been with Coventry for years and always opened any account in a matter of minutes

Rawrzy

That Coventry Loyalty RS seems pretty good. Sadly I only opened my account with them around spring time. Maybe next time.

Baileys_Babe

francoghezzi said:

surreysaver said:

OneUser1 said:

Bridlington1 said:

Bobblehat said:

Bridlington1 said:

I've just spoken to Coventry BS.
Their new loyalty rate regular saver will pay 7% variable
£250 max monthly deposit
Withdrawals/early closure subject to 30 day interest penalty

Sounds good ..... did you happen to ask if you could run this one and still run the 5.5% RS as well?

You can have both. Also some further details to add in addition to my original post:
The account will be launched on Tuesday 28/11/23.
The account runs on an account month basis so if you opened it on 28/11/23 and deposited the maximum amount, you couldn't deposit further funds until 28/12/23 so no 13th payment is possible on this occasion. I have now added these details to my original post.

Speaking as someone who likes to worry, that’s a worry. Open the account 28/11 and then set up a standing order for 28/12? Right at the end of December with weekends and Bank Holidays on the way! Not ideal timing. 

Option to wait until 1/12 to open the account but then could it be withdrawn? The recent Monmouthshire 7% went pretty quick as I recall.

Its based on an account month, so you'll have until 28th January to make December's payment. Plus the Coventry takes ages to open an account, so the earliest you'll have the account details will probably be 7-10 days after the launch anyway 

7-10 days?? I've been with Coventry for years and always opened any account in a matter of minutes

Same here, minutes at the most.

OneUser1

surreysaver said:

OneUser1 said:

Bridlington1 said:

Bobblehat said:

Bridlington1 said:

I've just spoken to Coventry BS.
Their new loyalty rate regular saver will pay 7% variable
£250 max monthly deposit
Withdrawals/early closure subject to 30 day interest penalty

Sounds good ..... did you happen to ask if you could run this one and still run the 5.5% RS as well?

You can have both. Also some further details to add in addition to my original post:
The account will be launched on Tuesday 28/11/23.
The account runs on an account month basis so if you opened it on 28/11/23 and deposited the maximum amount, you couldn't deposit further funds until 28/12/23 so no 13th payment is possible on this occasion. I have now added these details to my original post.

Speaking as someone who likes to worry, that’s a worry. Open the account 28/11 and then set up a standing order for 28/12? Right at the end of December with weekends and Bank Holidays on the way! Not ideal timing. 

Option to wait until 1/12 to open the account but then could it be withdrawn? The recent Monmouthshire 7% went pretty quick as I recall.

It’s based on an account month, so you'll have until 28th January to make December's payment. Plus the Coventry takes ages to open an account, so the earliest you'll have the account details will probably be 7-10 days after the launch anyway 

Of course - Account month. So assuming I can and do open it I will set up a standing order and if it gets credited 28/12 that’s perfect. If it carries over to early January I lose a few days interest but that’s not something I will be that bothered by. Thank you for spelling it out for me. I needed it spelling out!

subjecttocontract

Aidanmc said:

flaneurs_lobster said:

allegro120 said:

subjecttocontract said:

What's the criteria for qualifying for the loyalty reg saver ?

We'll have to see when the product is released, but usually it is 1 year of continuous membership.

From email received yesterday Coming soon We're rewarding loyalty again - keep a look out on our website during next week for the launch of our Loyalty Regular Saver*, which is our fourth and final loyalty product of the year.

*To be able to open this account, you'll need to have held or been linked to a savings or mortgage account with Coventry Building Society, ITL or Godiva continuously since 01 January 2022 or earlier.

I wonder if its only eligible customers that received the email.

I didn't receive one. I'm not sure if i actually had any accounts with Coventry continuously since Jan 22.

I hope so.....but doubt it.
I received the email but I don't believe I've been a customer since Jan' 22. I guess I'll find out from Tuesday when I apply.

RobinhoodSavings

Just spoken to Coventry. They are launching the Loyalty RS next Thursday. It’s a 7% variable and it’s £250 maximum a month for 12 months. You can have Regular Saver (5) and First Home Savers at the same time.