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Regular Savings Accounts: The Best Currently Available List!

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Comments

  • Speculator
    Speculator Posts: 2,484 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    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.


  • thefrank
    thefrank Posts: 289 Forumite
    Third Anniversary 100 Posts Photogenic Name Dropper
    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
    Bridlington1 Posts: 4,904 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 12 January 2024 at 1:25PM
    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
    Wheres_My_Cashback Posts: 4,422 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 12 January 2024 at 4:43PM
    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
    allegro120 Posts: 2,729 Forumite
    1,000 Posts Third Anniversary Name Dropper
    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.
  • simonsmithsays
    simonsmithsays Posts: 433 Forumite
    100 Posts First Anniversary Name Dropper
    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.
    5.5% is my current threshold and like you and @B@Bridlington1 I have quite a few RS which have minimal deposits and are there to keep membership and a few others to keep other accounts satisfied for DD requirements.
  • Bazzalona13295
    Bazzalona13295 Posts: 914 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    Bridlington1 said:
    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. 
    I'm on something like 10, but I know what you mean, same with those tracker accounts, give it a few months they could be very valuable.
    Saffron one looks good!
  • AmityNeon
    AmityNeon Posts: 1,093 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    silvercar 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.

    Wow! How much do you think you gain, in percentage terms, over putting all your savings in a fixed rate account?

    Based on a weighted average—balance of specific RS account divided by total amount of RS cash, multiplied by specific RS interest rate—my RS cash is currently earning interest at a rate of 6.27%. The figure obviously fluctuates as balances change.

  • pecunianonolet
    pecunianonolet Posts: 2,108 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    One point to mention is that @Bridlington1 doesn't have any other income (unless this has changed) except of interest income and can therefore max out on all those reg savers without running the danger of being left with a huge tax bill. For many, including myself, ISA developments and rates are far more of importance at the moment.

    Have 15 regular savers open but I only fund 4 at the moment. I also only open those which let me access funds either by withdrawal or closure with the only exception being First Direct. 
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