Regular Savings Accounts: The Best Currently Available List!

dcs34

Just checking with Gatehouse that's it's OK to only have the regular saver, there isn't a need or requirement to have the EA saver as well? I couldn't see anything in the T&Cs about it.

Bridlington1

dcs34 said:

Just checking with Gatehouse that's it's OK to only have the regular saver, there isn't a need or requirement to have the EA saver as well? I couldn't see anything in the T&Cs about it.

There's no requirement to have the EA account alongside the regular saver so you can have just the regular saver on its own.

Special_Saver2

Hi Everybody,

I just completed an update for the first page of this thread.

- Leeds BS Regular Saver (Issue 47) replaces issue 46 with the same details except that the maturity date is 30th November 2025

- AIB (NI) Regular Saver added to the list on page 1, paying 6% gross p.a. variable on up to £500 per month for 12 months (and then you can continue to add to this account after that but the deposits from the first 12 months will then earn a lower interest rate)

- Gatehouse Bank Regular Saver Account added to the list on page 1, paying 7% gross p.a. variable (note this is an expected profit rate from a Sharia bank) on up to £300 per month for 12 months, no withdrawals until account maturity

- Coventry BS Loyalty Regular Saver added to the list on page 1, paying 7% gross p.a. variable on up to £250 per month for 12 months, withdrawals before account maturity incur a charge equal to 30 calendar days’ interest on the amount withdrawn, to be able to open this account you need to have held or been linked to a savings or mortgage account with Coventry Building Society, ITL or Godiva continuously since 1 January 2022 or earlier.

I will do the next update in the next 1-2 weeks.

SS2

---

For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Speculator

PRAISETHESUN said:

Bigwheels1111 said:

Wheres_My_Cashback said:

janusdesign said:

wiseonesomeofthetime said:

Wheres_My_Cashback said:

allegro120 said:

janusdesign said:

allegro120 said:

flaneurs_lobster said:

Bridlington1 said:

trickydicky14 said:

Bridlington1 said:

pokemaster said:

Gatehouse Bank Regular Saver 7% (paid at maturity)

£300 Max Per Month pay in

Source: Money Facts

Worth noting that although the rate is variable, no withdrawals/closure are allowed until the end of the term, unless the rate is reduced. 

I see you can carry over payments and miss payments plus min pay in is a £1 so I think it's worth a punt.

You can't carry over payments from previous months. From the terms:

I'd agree though that with a £1 minimum deposit and the ability to skip months it is worth opening, though £1 is all they're getting from me for the next few months at least due to my circumstances.

Will it be possible to open and fund before end of November? 

Yes, I just did it. Funded from GH easy access.  Although it says it can take up to 3 days, funds appeared in new RS account immediately.

many thanks for posting about the speed of EA payments - I was on that exact page of the application when you posted, dithering about whether to fund from nominated account or GH EA... as you say, EA transfer was instant... it seems you can make manual transfers from EA to RS too, so although the t&c says that deposits are only accepted from the nominated account, it looks like internal transfers might be acceptable too for future deposits.

I've just looked on the app and the option to transfer from EA to RS is there, so i think you are right.  I'll definitely try it for my 2nd payment on Friday.   

Only need to do it once as you can set up an internal recurring transaction to move the funds monthly on whatever date you stipulate.

I set up a scheduled transfer from EA to RS, via the app, for 1st December, but didn't notice a recurring option. Will take another look now, thanks 👍

I couldn't see a scheduled option in the Android app, though it is there when I log into the online banking site - personally, i'll do it manually each month on the 1st as I have others to do on the same day.

while i'm here, my First Direct RS gets it's 12th payment on Saturday (or soon after) - should I manually remove the standing order afterwards, or will FD do that automatically after maturity on 2nd Jan ?

When FD set it up they do it for 12 payments so it will automatically cancel after the 12th payment has gone.

FD works great apart form taking upto 5 days to pay funds, close account and DD.

As soon as they do I start a new Regular saver with them.

For FD, if you open a generic savings account before maturity (or have one left over from a previously matured RS), then the process is quicker. Also in a pinch you can call them and get them to manually transfer the maturing funds to your current account if you need the money sooner

My FD regular mature today and the interest has been added. Still says "Regular Saver" but rate is now 2%. Is there anything stopping me from transferring money to my Santander 5.2% instant access or do I need to wait 5 working days for it to "mature".

wiseonesomeofthetime

My HSBC did that on Friday, so I just transferred the whole balance to my current account, then out to my savings account with another provider.

I assume FD would be the same.

surreysaver

wiseonesomeofthetime said:

My HSBC did that on Friday, so I just transferred the whole balance to my current account, then out to my savings account with another provider.

I assume FD would be the same.

Just to add to this, it might not work in the app, but might work on the website. That's how it was with my HSBC regular saver on Friday, my First Direct matures in a couple of weeks 

Nebulous2

Speculator said:

PRAISETHESUN said:

Bigwheels1111 said:

Wheres_My_Cashback said:

janusdesign said:

wiseonesomeofthetime said:

Wheres_My_Cashback said:

allegro120 said:

janusdesign said:

allegro120 said:

flaneurs_lobster said:

Bridlington1 said:

trickydicky14 said:

Bridlington1 said:

pokemaster said:

Gatehouse Bank Regular Saver 7% (paid at maturity)

£300 Max Per Month pay in

Source: Money Facts

Worth noting that although the rate is variable, no withdrawals/closure are allowed until the end of the term, unless the rate is reduced. 

I see you can carry over payments and miss payments plus min pay in is a £1 so I think it's worth a punt.

You can't carry over payments from previous months. From the terms:

I'd agree though that with a £1 minimum deposit and the ability to skip months it is worth opening, though £1 is all they're getting from me for the next few months at least due to my circumstances.

Will it be possible to open and fund before end of November? 

Yes, I just did it. Funded from GH easy access.  Although it says it can take up to 3 days, funds appeared in new RS account immediately.

many thanks for posting about the speed of EA payments - I was on that exact page of the application when you posted, dithering about whether to fund from nominated account or GH EA... as you say, EA transfer was instant... it seems you can make manual transfers from EA to RS too, so although the t&c says that deposits are only accepted from the nominated account, it looks like internal transfers might be acceptable too for future deposits.

I've just looked on the app and the option to transfer from EA to RS is there, so i think you are right.  I'll definitely try it for my 2nd payment on Friday.   

Only need to do it once as you can set up an internal recurring transaction to move the funds monthly on whatever date you stipulate.

I set up a scheduled transfer from EA to RS, via the app, for 1st December, but didn't notice a recurring option. Will take another look now, thanks 👍

I couldn't see a scheduled option in the Android app, though it is there when I log into the online banking site - personally, i'll do it manually each month on the 1st as I have others to do on the same day.

while i'm here, my First Direct RS gets it's 12th payment on Saturday (or soon after) - should I manually remove the standing order afterwards, or will FD do that automatically after maturity on 2nd Jan ?

When FD set it up they do it for 12 payments so it will automatically cancel after the 12th payment has gone.

FD works great apart form taking upto 5 days to pay funds, close account and DD.

As soon as they do I start a new Regular saver with them.

For FD, if you open a generic savings account before maturity (or have one left over from a previously matured RS), then the process is quicker. Also in a pinch you can call them and get them to manually transfer the maturing funds to your current account if you need the money sooner

My FD regular mature today and the interest has been added. Still says "Regular Saver" but rate is now 2%. Is there anything stopping me from transferring money to my Santander 5.2% instant access or do I need to wait 5 working days for it to "mature".

I'm exactly the same - with the same destination in mind, but its my first regular saver with FD so I'm just going to wait and let the process take its course. 

trickydicky14

dcs34 said:

Just checking with Gatehouse that's it's OK to only have the regular saver, there isn't a need or requirement to have the EA saver as well? I couldn't see anything in the T&Cs about it.

I only wanted a EA account with Gatehouse just to keep a foot in the door so to speak.

PowerSavingMode

surreysaver said:

HSBC Regular Saver matured overnight. Never disappeared from online banking like it has done previously. It has turned into a Pref Reg Sav paying 2%, but I cannot seem to withdraw from it yet

Odd, I managed to withdraw from it (well, transfer to the HSBC bank a/c) on the 1st no problem. Was I premature to do that? The interest had already been paid...

allegro120

DJDools said:

surreysaver said:

HSBC Regular Saver matured overnight. Never disappeared from online banking like it has done previously. It has turned into a Pref Reg Sav paying 2%, but I cannot seem to withdraw from it yet

Odd, I managed to withdraw from it (well, transfer to the HSBC bank a/c) on the 1st no problem. Was I premature to do that? The interest had already been paid...

I don't think it is premature if the interest had been paid.  My HSBC is to mature next Wednesday and I will withdraw as soon as the interest is paid.  Not opening a new one, 5% is too low for RS.