Regular Savings Accounts: The Best Currently Available List!

AmityNeon

subjecttocontract said:

AmityNeon said:

A Regular Saver term that lasts for 9.5 months? How peculiar, though based on its name/purpose I can understand it needing to mature comfortably before Christmas 2024. It’s still worth opening for me. It may be variable, but given the marketing context, the optics would look terrible if they announced a rate reduction.

(AER is 6.04% for YBS Christmas 2024 Regular Saver)

It's difficult for me to get very excited about this......approx £37 in interest is hardly worth getting out of bed for !

Around £7.67 after drip-feeding from 5%. It will probably take less than 5 minutes to open for existing customers. People do all sorts of things for similar amounts, e.g. cashback spending, monthly rewards etc. If an account doesn't tickle your fancy though, just ignore it; never mind what others choose to do when a new product is announced.

surreysaver

Bazzalona13295 said:

Bridlington1 said:

Bigwheels1111 said:

Please no more regular savers. I’m getting addicted to them.
I'm up to 8 now or is it nine.

If you think you're getting addicted to regular savers, how would you describe me? I'm currently on 42 and am looking forward to adding YBS's Christmas RS to my collection, taking my total to 43 or possibly higher if I open another RS in the meantime.

Are there even 42 in existence 😀

Some of the ones people will have will no longer be available to open. I'll count how many I've got when I get home. Think its fewer than 42 though 

simonsmithsays

@Bridlington1

badger09 said:

@Bridlington1
I admire your dedication and would love to be a fly on the wall when you’re asked for evidence of the source of funds for your first home. 

Hope you’re keeping meticulous records as I suspect you’ll need them. 

Apologies for the slight tangent.

@Bridlington1

We're in a similar position.  

We moved house recently and were lucky enough to be cash buyers.

At the time I had well over 100 RS and CA. I had (and still have but with only a quid in) almost 40 Virgin CA for example with the max £1k in when the rate was decent.

I've got a similar amount of RS to you.

An afternoon with a printer and then filing statements in a lever arch file and dropping them off at our solicitors was certainly interesting.

What I have noticed this year is that (with the interest spreadsheet I maintain) I already have 33% more interest than last tax year with the same sort of deposits.

That's without the, not insignificant, ISA interests to be paid.

soulsaver

Thread drift... 

Speculator

Bazzalona13295 said:

Bridlington1 said:

YBS Christmas 2024 regular saver:

• Will be launched on 17/1/24
• 6% variable
• Max deposit £150/mth
• Allows 1 penalty free withdrawal/yr
• Matures 31/10/24

Source: branch

The rate is no surprise but the low maximum deposit is.

My wife and I will become eligible for the 6% TSB monthly saver soon so will open that instead.

6% fixed, £25 to £250 per month and unlimited withdrawals.

Already have too many Regular Savers so have to pick and choose.

francoghezzi

A little help
I just opened the Skipton RS, maturity date 11 Jan 25 according to the system. The maximum that can be paid in is £3000 so this tells me that any new payment will be allowed on anniversary date, or am I allowed to pay in now the 1st of every new month? Thanks for help

Bridlington1

Bazzalona13295 said:

Bridlington1 said:

Bigwheels1111 said:

Please no more regular savers. I’m getting addicted to them.
I'm up to 8 now or is it nine.

If you think you're getting addicted to regular savers, how would you describe me? I'm currently on 42 and am looking forward to adding YBS's Christmas RS to my collection, taking my total to 43 or possibly higher if I open another RS in the meantime.

Are there even 42 in existence 😀

There certainly is, though many are now NLA to be fair. 

Bank/building society	Name	Interest rate
Saffron BS	Members Month Loyalty Saver	9.00%
Nationwide BS	Flex Regular Saver Issue 2	8.00%
Monmouthshire BS	Exclusive Regular Saver	8.00%
Skipton BS	Members Branch Regular Saver	7.50%
Bath BS	16-25 regular saver	7.49%
YBS	Loyalty 2023 Regular eSaver	7.00%
Monmouthshire BS	Regular Saver Issue 2	7.00%
Gatehouse	Regular Saver Account	7.00%
First Direct	Regular Saver	7.00%
Principality BS	Maturity Winter Regular Saver Bond	6.25%
Tipton & Cosley BS	Regular Saver to 31 October 2024 app	6.20%
RBS	Digital Regular Saver	6.17%
Natwest	Digital Regular Saver	6.17%
Mansfield BS	Bonus Regular Savings (8th issue)	6.10%
Mansfield BS	Kick Start Regular Savings (7th issue)	6.10%
Principality BS	2 Year Healthy Saver Bond	6.00%
YBS	Christmas 2024 Regular Saver (to be opened on 17/1/24)	6.00%
Furness BS	Christmas Regular Saver Issue 1	6.00%
Penrith BS	Regular Saver 300 (Heartland only)	6.00%
West Brom BS	Fixed Rate Regular Saver Issue 7	6.00%
Saffron BS	Small Saver	5.75%
Tipton & Cosley BS	Regular Saver to 31 July 2024 app	5.75%
Coventry BS	First Home Saver	5.60%
Monmouthshire BS	Coronation Regular Saver	5.60%
Principality BS	Regular Savings Bond Issue 33	5.50%
Nationwide BS	Start to Save Issue 2	5.50%
Melton BS	Regular Saver Issue 4	5.50%
HEBS	Online Regular Saver	5.50%
Coventry BS	Regular Saver	5.50%
Aldermore	Regular Saver Issue 1	5.25%
YBS	Regular Saver	5.25%
Principality BS	First Home Steps Online Issue 2	5.25%
Principality BS	First Home Steps Online Issue 3	5.25%
Stafford Railway BS	Regular Saver Issue 1	5.15%
Leeds BS	Home Deposit Saver	5.15%
Santander	Regular Saver	5.00%
Bath BS	Homestart Regular Saver	4.89%
Loughborough BS	Limited Access Monthly Saver	4.75%
Darlington BS	Regular Saver	4.60%
Darlington BS	Green Regular Saver	4.60%
Mansfield BS	Regular eSaver	4.50%
Mansfield BS	Regular Saver	4.50%
Buckinghamshire BS	Regular Saver	4.10%

Quite a few are on minimal funding but are kept just in case they do something interesting. 

Bridlington1

francoghezzi said:

A little help
I just opened the Skipton RS, maturity date 11 Jan 25 according to the system. The maximum that can be paid in is £3000 so this tells me that any new payment will be allowed on anniversary date, or am I allowed to pay in now the 1st of every new month? Thanks for help

It goes by calendar month, so you can deposit £250 now and then £250 again on 1/2/24

Wheres_My_Cashback

Bridlington1 said:

Bigwheels1111 said:

Please no more regular savers. I’m getting addicted to them.
I'm up to 8 now or is it nine.

If you think you're getting addicted to regular savers, how would you describe me? I'm currently on 42 and am looking forward to adding YBS's Christmas RS to my collection, taking my total to 43 or possibly higher if I open another RS in the meantime.

Ditto, however I'm only actively paying maximums into 36, the other 6 are minimums/zero which are only kept on the portfolio for future use should needs arise. As EA rates are suspected to fall further in the coming months these other 6 may be of use again, but only time will tell. If not, nothing lost and it's kept relationships with some BS that I may not otherwise have. To me anything =>5.25% is worth funding to the max. Everyone obviously has their own threshold depending on cash flow/disposable cash/EA to RS gap etc
Cash flow at this time of the year is more problematic though as there are far less RS accounts opened/maturing in the 1st half of the year, compared to 2nd so recycling becomes harder/more restricted.

ETA... that I withdrew all funds bar minimum requirements (if any) from those a/c paying 5.5% or less and put them into an RCI 95 day notice at 5.6% Var at the beginning of Oct and that's fixed until 29th April 'effectively'.

allegro120

Wheres_My_Cashback said:

Bridlington1 said:

Bigwheels1111 said:

Please no more regular savers. I’m getting addicted to them.
I'm up to 8 now or is it nine.

If you think you're getting addicted to regular savers, how would you describe me? I'm currently on 42 and am looking forward to adding YBS's Christmas RS to my collection, taking my total to 43 or possibly higher if I open another RS in the meantime.

Ditto, however I'm only actively paying maximums into 36, the other 6 are minimums/zero which are only kept on the portfolio for future use should needs arise. As EA rates are suspected to fall further in the coming months these other 6 may be of use again, but only time will tell. If not, nothing lost and it's kept relationships with some BS that I may not otherwise have. To me anything =>5.25% is worth funding to the max. Everyone obviously has their own threshold depending on cash flow/disposable cash/EA to RS gap etc
Cash flow at this time of the year is more problematic though as there are far less RS accounts opened/maturing in the 1st half of the year, compared to 2nd so recycling becomes harder/more restricted.

My threshold for RS is 5.5%.  The only exceptions are Ecology (£25 p/m) and Lloyds non-club (depositing full amount every month).  Good point about EA rates, 5%+ might soon disappear and then 5.25% RSs can become useful.