Regular Savings Accounts: The Best Currently Available List!

pecunianonolet

Thumbs_Up said:

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.

Just thought I missed a rate increase as you state 5.9% but my account shows 5.6% gross. just in case somebody else gets confused. 

allegro120

Bridlington1 said:

Digital_Payback said:

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. 

It's a good account though from what I can see you can only apply online if you're an existing AIB customer, if you're not you'd need to apply in branch.

I notice their credit cards allow applications by post/phone so possibly a back-door route to opening?

I called them and was told that there is no back-door route.

Thumbs_Up

pecunianonolet said:Just thought I missed a rate increase as you state 5.9% but my account shows 5.6% gross. just in case somebody else gets confused. 

Profound apologies, i am showing 5.6%. While I'm here can anyone tell me regarding the annual interest, was their an option to have the interest added to to account? as i have chosen interest to be paid out to my nominated account.

Edit...again. This is reference to The Coventry FHS.

flaneurs_lobster

Thumbs_Up said:

pecunianonolet said:Just thought I missed a rate increase as you state 5.9% but my account shows 5.6% gross. just in case somebody else gets confused. 

Profound apologies, i am showing 5.6%. While I'm here can anyone tell me regarding the annual interest, was their an option to have the interest added to to account? as i have chosen interest to be paid out to my nominated account.

Just checked my account, it's set up to pay interest back to itself.

Thumbs_Up

flaneurs_lobster said:

Thumbs_Up said:

pecunianonolet said:Just thought I missed a rate increase as you state 5.9% but my account shows 5.6% gross. just in case somebody else gets confused. 

Profound apologies, i am showing 5.6%. While I'm here can anyone tell me regarding the annual interest, was their an option to have the interest added to to account? as i have chosen interest to be paid out to my nominated account.

Just checked my account, it's set up to pay interest back to itself.

Thanks, yeah, think i made a mistake on this. Every account i seem to open i always prefer and choose with out thinking too much about it is to have interest paid out.

pw23

Before I open and commit to my first regular saver account, are there any better rates  for a fixed regular  Saver than 8%?

As is a variable rate, how long do you expect this competitive 8% to last?

  

The MSE size says that it is variable for one year, does that mean it will be fixed after one year? If so, what rates?

I want to save £600-700 per month In a regular saver account  But it seems that 250 is The maximum monthly allowance for a regular saver account 
Do any any other banks, allow more for a regular favour?

Nick_C

pw23 said:

Before I open and commit to my first regular saver account, are there any better rates  for a fixed regular  Saver than 8%?

As is a variable rate, how long do you expect this competitive 8% to last?

  

The MSE size says that it is variable for one year, does that mean it will be fixed after one year? If so, what rates?

I want to save £600-700 per month In a regular saver account  But it seems that 250 is The maximum monthly allowance for a regular saver account 
Allow more? To any other banks, allow more for a regular favour?

See page one of this thread

KneadtheDough

pw23 said:

Before I open and commit to my first regular saver account, are there any better rates  for a fixed regular  Saver than 8%?

As is a variable rate, how long do you expect this competitive 8% to last?

  

The MSE size says that it is variable for one year, does that mean it will be fixed after one year? If so, what rates?

I want to save £600-700 per month In a regular saver account  But it seems that 250 is The maximum monthly allowance for a regular saver account 
Do any any other banks, allow more for a regular favour?

If you are referring to the 'NationWide Flex Regular Saver Issue 2', I'd say no, there are no better 'fixed' rates at the moment. I can't see any coming on to the market soon, either. Might be wrong. 

The NationWide reg saver is variable for a year, meaning it can go up or down (with notice), and then after a year it closes. 

The good thing about this saver, IMHO, is that, while the maximum you can put away in any one month is £250, you don't have to put in anything, and also you can withdraw your funds at any time: “Make up to 3 withdrawals during the 12 month account term without impacting your interest rate. After 4 withdrawals the interest rate reduces to 2.15% AER/gross a year (variable) for the rest of the term.”

Kim_13

pw23 said:

Before I open and commit to my first regular saver account, are there any better rates  for a fixed regular  Saver than 8#?

As is a variable rate, how long do you expect this competitive 8% to last?

  

The MSE size says that it is variable for one year, does that mean it will be fixed after one year? If so, what rates?

I want to save £600 per month by seems that 250 is The maximum monthly allowance for a regular saver account

There are no fixed 8% Regular Savers available, Nationwide are currently the only provider offering 8% and as you say, it’s variable. £200 per month maximum in that case. Nationwide have never paid below base rate on a variable rate regular saver, so I would expect them to remain competitive. For a couple of years they offered a 5% product when the base rate was 0.25% or 0.5% and even when they withdrew it for new applications, they maintained the rate for existing account holders until maturity. As to whether it will be 8% for the term, nobody knows, but it allows several penalty free withdrawals, so you can withdraw your money should the rate drop if you wish.

The highest fixed rate account I’m aware of is 7.5% with Skipton, but that’s contingent upon having been a member on 31st May this year. £250 per month.

There are accounts that will take up to £1,000 per month (Stafford Railway) but £500 is more common (Hinckley and Rugby, Coventry Regular Saver (5.) Be aware that passbooks are required for the first two, 4 withdrawals a year max with SRBS, a 30 day notice period on withdrawals with H&R and a 30 day interest penalty with Coventry. None of the three are the highest rates available but Stafford Railway is an open ended product. 

Which Building Societies are you a member of, and for how long? (Holding a mortgage, savings or current account with them.) The best accounts have been Loyalty products of late. Yorkshire’s Loyalty Regular Saver has a £500 limit at 7% variable with a penalty free withdrawal and closure allowed.

To get the best rates on £600 per month you would need to open several accounts.

Bigwheels1111

Does anyone know if these regular savers allow a 13th payment.
I have these and to my knowledge,
First Direct,           No
Coventry,              No
TSB,                     No
YBS,                    ?        

Skipton,               ?

Nationwide,         ?