Regular Savings Accounts: The Best Currently Available List!

Bigwheels1111

SickGroove said:

Bigwheels1111 said:

All looking good on my end.

Can I ask if it shows your name or your bank's name in the named bank account section under account holder(s)?

Also, have you opted to have your interest at maturity added to this account or paid away to your nominated bank account?

I was so surprised to get the opportunity to open it.
I was not taking much notice.
In the new account under account details 
My name and my bank FD.
Interest. Annually and into this account.

soulsaver

Descrabled said:

Coventry LRS

Note that payments into this account must be new money to Coventry. No transfers from existing savings in Coventry easy access accounts as I sometimes do with First Home Saver 1.

Reading the terms can be useful... you can

1. Transfer money from another Coventry account

friolento

Coventry account opened yesterday and deposited my first £250. What date do I set my SO to - 27th or 28th? I have done 28th, in order not to get my next SO returned

pecunianonolet

Am I right in my thinking that if I have to withdraw money/close the account, I will not be at loss if I withdraw/close on the 32nd day after my last pay in?

Day 1 pay in and end of day balance used for interest calculation

Day 2 : 31 interest calculated

Day 32 withdrawal

= 31 days interest accrual

Assuming I withdraw the total amount and always pay in the full £250 exactly on the first day of the account month and Cov BS crediting regardless of the weekday. A pay in date falling on a bank holiday might change the picture so take below with a pinch of salt. Interest is variable so a change during the term will change the picture again. Should rates be lowered during the term the profit rate should be higher.


*Numbers rounded by Excel


If you pay in on the day of account opening £250 and leave it without any further addition and take out the full £250 on day 61 the profit would be ~ £1.44


 
Anyone able to confirm if my thinking is right or if it can be disregarded as bs?

35har1old

friolento said:

Coventry account opened yesterday and deposited my first £250. What date do I set my SO to - 27th or 28th? I have done 28th, in order not to get my next SO returned

Same date as account opening or after has to be a calendar month between or money returned.

This account is hidden from view when you visit the Coventry site you have to log on and it still does not come up on the savings page  untill you hit other products

Update 28-11-23 the account is now visible 

35har1old

SickGroove said:

Bigwheels1111 said:

All looking good on my end.

Can I ask if it shows your name or your bank's name in the named bank account section under account holder(s)?

Also, have you opted to have your interest at maturity added to this account or paid away to your nominated bank account?

There is no point in paying the interest away as the account matures on the same day and you would be likely to pay all of it away or be reinvesting if there was a suitable account

Bridlington1

Coventry BS Loyalty Regular Saver now live on their website. See
https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/loyalty-regular-saver.html

Digital_Payback

https://aibni.co.uk/our-products/savings-and-deposits/regular-saver

AIB (NI) now offering 6% on their Regular Saver, depositing up to £500 each month. 

Eligibility and full details above. 

TheWoodler

Agreed @Section62. These things often don’t go live until 9am so thanks to @Bridlington1 for alerting people before 9am.

A bit more about the Coventry account - they’re making a donation for every account opened (not just this RS) between 1 Nov and 21 Dec to Centrepoint, subject to a minimum of £100 being in the relevant account as at 31 Dec. 

https://www.coventrybuildingsociety.co.uk/member/why-choose-us/partnerships/centrepoint/centrepoint-terms-and-conditions.html

Thumbs_Up

Re Coventry BS - Looks like my Coventry first home saver 5.9% (1st addition opened Dec 2022) is not classed as a savings account because i get this -

And no, i won't ring them...lol.