Regular Savings Accounts: The Best Currently Available List!

Stargunner

Wheres_My_Cashback said:

Stargunner said:

Frogletina said:

YBS Christmas regular saver is now ready to open. Very quick to do as an existing customer.

£150 a month until 31/10/2024, return of 6% gross/AER

It needs to be quick to do, because it will only earn you around £5 more than leaving the money in an easy access acvounr

However, it could be useful for starting a relationship with YBS if you don't already have one as they are one of the most prolific societies to offer loyalty accounts.
This is a short term RS with a low max monthly deposit so good for those with limited funds to save.
Also the £5 is at the current rate gap. As we all know rates are on the downward spiral, that gap may well widen in the next few months. I suspect EA rates will fall sharper than RS rates.

The rate on the Christmas saver is variable, so if bank rates spiral down, this will likely follow suit as well.

pecunianonolet

Normally, I would pass on this one as the rate is not too attractive. However, will open and put £1 in as a holding account just in case. Natwest and RBS regular savers still pay also 6% gross (6.17% AER) variable on £150 monthly deposit limit with the option to top up via round ups and basically easy access without restrictions. 

AmityNeon

bristolleedsfan said:

Bigwheels1111 said:

All set up and first payment made, SO for the 1st of Feb onward set up as well.

7 mins from start to finish for £52.

Got to double figures at last, 10 regular savers.

Gain of £52.03 only applies if funds otherwise would have received 0.00 Interest if left in 0% account.

Their estimated interest figure of £52.03 is incorrect (as is their AER).

Assuming daily interest is (1/366): £40.72 - £33.93 = £6.79

      Date   Balance   Days       6.00%       5.00%
17/01/2024       150     15    0.368852    0.307377
01/02/2024       300     29    1.426230    1.188525
01/03/2024       450     31    2.286885    1.905738
01/04/2024       600     30    2.950820    2.459016
01/05/2024       750     31    3.811475    3.176230
01/06/2024       900     30    4.426230    3.688525
01/07/2024      1050     31    5.336066    4.446721
01/08/2024      1200     31    6.098361    5.081967
01/09/2024      1350     30    6.639344    5.532787
01/10/2024      1500     30    7.377049    6.147541
---------------------------------------------------
31/10/2024              288   40.721311   33.934426

PloughmansLunch

I think I've broken it - this should be my 6th or 7th YBS account but for some reason it's blocked from deposits while they 'carry out further checks'

Pkman

simonsmithsays said:

friolento said:

Bigwheels1111 said:

bristolleedsfan said:

Bigwheels1111 said:

All set up and first payment made, SO for the 1st of Feb onward set up as well.

7 mins from start to finish for £52.

Got to double figures at last, 10 regular savers.

Gain of £52.03 only applies if funds otherwise would have received 0.00 Interest if left in 0% account.

The funds get easy access interest from Santander, its hard to work out the exact figure as saved amount changes

evey month, Plus its topped un when each RS matures and funds EA acount.

You can use the MSE Regular Saver calculator. It works out an almost exact figure for you, though it is something between £5 and £6, assuming your remaining 9 deposits will be on the 1st of every calendar month

And most people's Santander 5.2% will have ended long before this YBS

Hence it's not an accurate comparsion

Skipton have EA 5.5% £3k max 

simonsmithsays

Pkman said:

simonsmithsays said:

friolento said:

Bigwheels1111 said:

bristolleedsfan said:

Bigwheels1111 said:

All set up and first payment made, SO for the 1st of Feb onward set up as well.

7 mins from start to finish for £52.

Got to double figures at last, 10 regular savers.

Gain of £52.03 only applies if funds otherwise would have received 0.00 Interest if left in 0% account.

The funds get easy access interest from Santander, its hard to work out the exact figure as saved amount changes

evey month, Plus its topped un when each RS matures and funds EA acount.

You can use the MSE Regular Saver calculator. It works out an almost exact figure for you, though it is something between £5 and £6, assuming your remaining 9 deposits will be on the 1st of every calendar month

And most people's Santander 5.2% will have ended long before this YBS

Hence it's not an accurate comparsion

Skipton have EA 5.5% £3k max 

Yep

I've got that and like a lot of others I also have the Santander 5.2% (which was the specific one being compared).

And now I got this YBS too.

Frankly I don't understand people coming onto a MSE page and wasting energy saying getting X money more is a waste of time - whilst negatively posting on here seemingly isn't.

Each to their own I guess.

AmityNeon

simonsmithsays said:

Frankly I don't understand people coming onto a MSE page and wasting energy saying getting X money more is a waste of time - whilst negatively posting on here seemingly isn't.

Each to their own I guess.

They actively monitor a thread. They see a new product announced/discussed. They feel better about their own inaction if they publicly justify why the new product being discussed is not worth it to them (instead of ignoring it, which is usually a much better indication of something not being worth one's time).

friolento

simonsmithsays said:

Frankly I don't understand people coming onto a MSE page and wasting energy saying getting X money more is a waste of time - whilst negatively posting on here seemingly isn't.

Each to their own I guess.

Well said     

BestSeagull

I think it's useful to hear both sides. It helps me to decide if it's worth it for me personally.

enthusiasticsaver

I have just opened up the YBS Christmas Saver too.  I just have this and Nationwide 8% RS so far this year.  The rest of our savings go into the YBS internet saver or savings spaces to be spent on cars/holidays/house etc.