Regular Savings Accounts: The Best Currently Available List!

Middle_of_the_Road · 20 December 2023 at 9:36PM

trickydicky14 said:

subjecttocontract said:

where_are_we said:

You can look on the Principality RS33 @5.5% Fixed as an easy access account with penalty free closure at any time. However you are restricted to saving £250 per calendar month. The best 1 year fix is 5.66% with metro bank. Rates are coming down and the RS33 @5.5% Fixed could soon become even more competitive, so opening one now with a £1 and then fully funding it, when better rates elsewhere are no longer available, makes good sense ("What have you got to lose" lyrics sung by Crosby Stills & Nash in "Judy Blue Eyes" comes to mind and reveals my age!) Act now before it is replaced with an inferior RS34.

TSB monthly saver @ 6% fixed ......£250pcm
FD regular saver @ 7% fixed...£300pcm

Which is great for those of us that have these bank accounts and if not, Principality is an easy option.

The only reason I have a TSB and FD current account is for the regular savers. They remain unused except for the monthly SO to fund the RS.

Wheres_My_Cashback · 20 December 2023 at 9:42PM

kuepper said:

Thinking of the TSB 6% fixed for 12 mths but wondered can you close it at anytime and if you can do that or if you take money out before 12 months do you have to wait til the 12 months is up to get the interest that's accrued?

Yes, you can make withdrawals and yes, you can close at anytime and interest will be payable at that time.

subjecttocontract · 20 December 2023 at 9:44PM

I've taken money out of mine part way thru the year and reduced to £25pcm, which I think is the minimum monthly amount.

chris_the_bee · 20 December 2023 at 9:44PM

trickydicky14 said:

kuepper said:

Thinking of the TSB 6% fixed for 12 mths but wondered can you close it at anytime and if you can do that or if you take money out before 12 months do you have to wait til the 12 months is up to get the interest that's accrued?

Yes you can take money out.

And you can close it early and be paid the interest accrued, but if you do that, you have to wait 'till the 12 months is up to open another one even if they launch one with a different interest rate.

trickydicky14 · 20 December 2023 at 9:50PM

Middle_of_the_Road said:

trickydicky14 said:

subjecttocontract said:

where_are_we said:

You can look on the Principality RS33 @5.5% Fixed as an easy access account with penalty free closure at any time. However you are restricted to saving £250 per calendar month. The best 1 year fix is 5.66% with metro bank. Rates are coming down and the RS33 @5.5% Fixed could soon become even more competitive, so opening one now with a £1 and then fully funding it, when better rates elsewhere are no longer available, makes good sense ("What have you got to lose" lyrics sung by Crosby Stills & Nash in "Judy Blue Eyes" comes to mind and reveals my age!) Act now before it is replaced with an inferior RS34.

TSB monthly saver @ 6% fixed ......£250pcm
FD regular saver @ 7% fixed...£300pcm

Which is great for those of us that have these bank accounts and if not, Principality is an easy option.

The only reason I have a TSB and FD current account is for the regular savers. They remain unused except for the monthly SO to fund the RS.

Agreed I am much the same as you but for some having to meet stipulations from a lot of banks to set up a current account in the first place and then open a RS and having to keep the CA open for the duration of the RS makes it less attractive when you can just do the same with a building soc with no string attached. Me, I’ll jump through fire to get the best rates.

allegro120 · 20 December 2023 at 9:53PM

kuepper said:

Thinking of the TSB 6% fixed for 12 mths but wondered can you close it at anytime and if you can do that or if you take money out before 12 months do you have to wait til the 12 months is up to get the interest that's accrued?

You get accrued interest at closure.

Angelica123 · 20 December 2023 at 10:28PM

subjecttocontract said:

where_are_we said:

You can look on the Principality RS33 @5.5% Fixed as an easy access account with penalty free closure at any time. However you are restricted to saving £250 per calendar month. The best 1 year fix is 5.66% with metro bank. Rates are coming down and the RS33 @5.5% Fixed could soon become even more competitive, so opening one now with a £1 and then fully funding it, when better rates elsewhere are no longer available, makes good sense ("What have you got to lose" lyrics sung by Crosby Stills & Nash in "Judy Blue Eyes" comes to mind and reveals my age!) Act now before it is replaced with an inferior RS34.

TSB monthly saver @ 6% fixed ......£250pcm
FD regular saver @ 7% fixed...£300pcm

I guess the point @where_are_we was making about Principality is that it allows early closure so in essence could be used almost like an easy-access savings account. The downside of FD is that if you close early, you get interest at their standard savings account rate.

I already have TSB and FD regular savers. I too have opened a Principality reg saver £1. At the moment, it doesn't make sense to fund it, as I have enough reg saver with higher rates (+fixed bonds) that will mature in 2024 and put me close to PSA in 2024/2025. So I will only fund it if a) my variable rate reg savers such as NW drop lower than 5.5% or b) my cash ISA rates drop low enough that I earn more interest drip-feeding into Principality (and paying the extra tax) than being kept in my ISA.

Kim_13 · 20 December 2023 at 10:39PM

I would have opened the TSB if I hadn’t sacrificed my Current Account with them for a switch (due to Tesco Bank blocking switches at the time.) When I opened it they requested ID as is their right, and it wasn’t a problem as I had three branches I could reasonably get to at the time. Now there are none, I’m not risking opening another (and my login details don’t work despite still having a zero balance Easy Access savings account - unless that’s been automatically closed.)