Regular Savings Accounts: The Best Currently Available List!

RosieRooBear

I’ve just opened it today for the same reason as @allegro120, just got to wait for my userid in the post before I can fund it as chose not to fund it immediately by debit card.

allegro120

RosieRooBear said:

I’ve just opened it today for the same reason as @allegro120, just got to wait for my userid in the post before I can fund it as chose not to fund it immediately by debit card.

Ditto. There's no rush funding it @5.5% rate, the main goal is to open the account before it becomes NLA. I assume that funding it by debit card will result in small loss of interest, so not the best option for me. When I receive the letter with user ID I will deposit £1k as required, but after that will limit my monthly contributions to minimum £250 and schedule them towards the end of the month for the time being. 

brucefan_2

As with @Kim_13 and @allegro120 I also took advantage earlier this year of the postcode restrictions being dropped as I wanted an open-ended RS in my armoury for the future. And also to be an existing member should there be a competitive account come available.

I still harbour the hope (probably in vain)  of eventually living back in their postcode area at some point - my wife and daughters think otherwise.

charlie12525

Regarding the Hanley Economic Building Society Online Regular Saver, the T&Cs state -

8.2 On our accounts we generally:

Calculate interest on a sum withdrawn up to (but not including) the day before you

make the withdrawal;

So a couple of days lost interest on withdrawal. Think I will leave it.

Malchester

charlie12525 said:

Regarding the Hanley Economic Building Society Online Regular Saver, the T&Cs state -

8.2 On our accounts we generally:

Calculate interest on a sum withdrawn up to (but not including) the day before you

make the withdrawal;

So a couple of days lost interest on withdrawal. Think I will leave it.

Thanks. I'm not a great lover of regular savers because of the marginal increase in interest they generate. I have opened this one because of its open ended nature and the high monthly allowance. But I am undecided as to whether to fund it. Waiting for the user ID 

soulsaver

HEBS
I opened it on the basis that the rate is 'OK', terms not onerous and, in an environment of falling rates, who knows which account will work out best.

friolento

Malchester said:

Thanks. I'm not a great lover of regular savers because of the marginal increase in interest they generate.

A lot depends on your circumstances. If you have £100k that you can afford to stuff into a Fixed Term account, you might not want to get involved with Regular Savers. But if you don't have the ready cash in one go, and/or if you want more flexibility and granularity, Regular Savers can provide you with a lot more than just a marginal increase in interest. Albeit not all available for new applicants, I have quite a few which generate more than a marginal increase over and above what I could get elsewhere. Cambridge BS, FS, Club Lloyds, Mmth BS (x 2), Natwest, RBS, Nationwide, Principality BS, Saffron BS, Skipton, Tipton all have Regular Savers paying 6% and above. I am shifting £2,725 a month in there from regular income that I don't need immediately but I want access within a year. I get a several hundred pounds more from the RSs, compared with what I would get if I kept the money in a 5.2% account. To me, several hundred on 12 x £2,725 is more than marginal. I fully appreciate it might be marginal to you.

allegro120

friolento said:

Malchester said:

Thanks. I'm not a great lover of regular savers because of the marginal increase in interest they generate.

A lot depends on your circumstances. If you have £100k that you can afford to stuff into a Fixed Term account, you might not want to get involved with Regular Savers. But if you don't have the ready cash in one go, and/or if you want more flexibility and granularity, Regular Savers can provide you with a lot more than just a marginal increase in interest. Albeit not all available for new applicants, I have quite a few which generate more than a marginal increase over and above what I could get elsewhere. Cambridge BS, FS, Club Lloyds, Mmth BS (x 2), Natwest, RBS, Nationwide, Principality BS, Saffron BS, Skipton, Tipton all have Regular Savers paying 6% and above. I am shifting £2,725 a month in there from regular income that I don't need immediately but I want access within a year. I get a several hundred pounds more from the RSs, compared with what I would get if I kept the money in a 5.2% account. To me, several hundred on 12 x £2,725 is more than marginal. I fully appreciate it might be marginal to you.

I shifted £5,300 this month so far and it will be £6,300 when I receive my login ID from HEBS.  Running RSs makes a notable difference for my budget. I have some money in fixed and notice accounts, but most of my funds are in EAs and RSs - so far this proved to be a better strategy for me.  Saying that, my fixed pot has significantly increased this year.  

friolento

allegro120 said:

friolento said:

Malchester said:

Thanks. I'm not a great lover of regular savers because of the marginal increase in interest they generate.

A lot depends on your circumstances. If you have £100k that you can afford to stuff into a Fixed Term account, you might not want to get involved with Regular Savers. But if you don't have the ready cash in one go, and/or if you want more flexibility and granularity, Regular Savers can provide you with a lot more than just a marginal increase in interest. Albeit not all available for new applicants, I have quite a few which generate more than a marginal increase over and above what I could get elsewhere. Cambridge BS, FS, Club Lloyds, Mmth BS (x 2), Natwest, RBS, Nationwide, Principality BS, Saffron BS, Skipton, Tipton all have Regular Savers paying 6% and above. I am shifting £2,725 a month in there from regular income that I don't need immediately but I want access within a year. I get a several hundred pounds more from the RSs, compared with what I would get if I kept the money in a 5.2% account. To me, several hundred on 12 x £2,725 is more than marginal. I fully appreciate it might be marginal to you.

I shifted £5,300 this month so far and it will be £6,300 when I receive my login ID from HEBS.  Running RSs makes a notable difference for my budget. I have some money in fixed and notice accounts, but most of my funds are in EAs and RSs - so far this proved to be a better strategy for me.  Saying that, my fixed pot has significantly increased this year.  

Like for you, RSs make a notable difference to my budget, and to the bottom line interest I am left with at the end of a tax year after paying the tax due. My total going monthly into RSs is much like yours when I add in the 5.5%+ RS accounts, and the multiples I am not meant to have  . Many RSs are still a brilliant account to have, I didn't hesitate to open the latest HEBS.

The options for choosing accounts are governed by your available funds at any time, and on when you want/need to spend your money. There's no single approach that fits all - approach needs to be tailored to anyone's savings and investments. circumstances. Invariably, Regular Savings account will be a good choice for many people

surreysaver

With the Cambridge Extra Reward Regular Saver, I realise you cannot manage it online, but could someone advise me please whether the account is viewable online alongside your other accounts?