Regular Savings Accounts: The Best Currently Available List!

simonsmithsays

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

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

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

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. 

bristolleedsfan

AmityNeon said:

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.

Does that allow for rate you receive(d) in instant access account prior to feeding funds into RS(s) being as post you replied to made reference to comparing with putting funds into fixed rate account.

schiff

Bridlington1 said:

Skipton BS Member Regular Saver Issue 3 has been launched at 7% fixed, replacing issue 2 at 7.5%.

• Max deposit £250/mth
• Available to existing Skipton members, who joined on or before 11/01/24
  
• No withdrawals permitted except early closure
• You can not hold both issue 2 and 3 simultaneously

I've got four payments to go (Feb 1st, March, April, May) before my issue 1 matures.
I'm thinking of closing it and sacrificing the additional 0.5% interest for the five and a half months.
Opening Issue 3 and the fixed 7.00% is secured for the extra six months over a period when rates are expected to fall. 

castle96

me too........

Kim_13

schiff said:

Bridlington1 said:

Skipton BS Member Regular Saver Issue 3 has been launched at 7% fixed, replacing issue 2 at 7.5%.

• Max deposit £250/mth
• Available to existing Skipton members, who joined on or before 11/01/24
  
• No withdrawals permitted except early closure
• You can not hold both issue 2 and 3 simultaneously

I've got four payments to go (Feb 1st, March, April, May) before my issue 1 matures.
I'm thinking of closing it and sacrificing the additional 0.5% interest for the five and a half months.
Opening Issue 3 and the fixed 7.00% is secured for the extra six months over a period when rates are expected to fall. 

I think this is Issue 2. With £2,000 currently in the account, having to redeposit £1,750 somewhere seems like a bigger issue (my Cash ISA is fixed, so under the rules that apply this year, I can’t use any more of my allowance to pay into a Cash ISA) than sacrificing 0.5% for 4 months. I will run mine to maturity and hope that there is still a competitive offering then, whether it is a maturity product, this Issue 3 or Issue 4. I would never have expected Issue 2 to be on sale for over 7 months when it launched.

Early closure will mean the interest being taxed in 23/24 rather than in 24/25, which may be important to some posters in deciding whether or not to do this.

AmityNeon

bristolleedsfan said:

AmityNeon said:

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.

Does that allow for rate you receive(d) in instant access account prior to feeding funds into RS(s) being as post you replied to made reference to comparing with putting funds into fixed rate account.

No, the RS accounts are mostly self-funding as they mature/renew along with regular monthly income. As it stands now, it makes no sense to withdraw all my RS cash and deposit into a fix, because the rates are lower and I lose access. It's not the same position as starting from scratch with a lump sum and no RS accounts.

I would also never deposit all my easy access cash into a fix anyway, and numerous RS accounts are easy access, so the scenarios are not comparable.

surreysaver

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.

Same with me with cashflow. I've always tried to arrange one or two Regular Savers maturing each month, which then fund the following month's deposits. But I seem to have accrued loads of Regular Savers which are now going to mature next autumn, with only a handful before then