Regular Savings Accounts: The Best Currently Available List!

AmityNeon

(Removed by Forum Team)

It’s £0.0164 per day over a 5% easy access account. If a quick turnaround is important to you, I recommend opening their standard savings account, so maturity/renewal can occur over a single weekend without needing to contact support.

gwapenut

The only time I found slow turnaorund time from one year's RS to the next was personally worth worrying about, was when I made the mistake of opening a few on the 4th or 5th April one year, trying to ensure I paid tax in a particular tax year when I knew I'd have more tax allowance to use up. 

Santander didn't abie by their own terms and conditions and paid the interest the next day, in the following tax year. 

And then I realised that the few days' drift n the HSBC stable mean that my subsequent RS skipped an entire tax year, pushing the interest into an even more taxable situation. 

My solution was to avoid such late-in-the-year openings, rather than need to spend extra effort trying to coerce customer services and hitting a dead end in the case of Santander.

BillTee

Stargunner said:

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 !

It would be a lot less than £37, because I would imagine that you would hsve the money in an easy access account instead, earning at least 5%. 

I will be giving this RS a miss.

You're correct. I worked it out and would be less than 30p difference compared to my Cynergy EA 5.15%

AmityNeon

BillTee said:

Stargunner said:

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 !

It would be a lot less than £37, because I would imagine that you would hsve the money in an easy access account instead, earning at least 5%.
I will be giving this RS a miss.

You're correct. I worked it out and would be less than 30p difference compared to my Cynergy EA 5.15%

Only 30p? That's equivalent to a monthly contribution of ~£8. Assuming the full monthly contribution of £150 per month starting today and the first of every subsequent month, the difference compared to a 5.15% gross account would be £5.75.

Dizzycap

I finally managed to get the YBS Christmas Saver Opened. what a mess up with all the verification rubbish. It's been going on for 10 days . Anyway, loaded up £150 for this month and another £150 at the beginning of February.

Coventry has launched another RS issue @ 5% but not opened as I've got others on the go at higher interest rates. Plus, I've already got 2 Coventry RS @ 5.5% with one about to mature.

Middle_of_the_Road

Dizzycap said:

I finally managed to get the YBS Christmas Saver Opened. what a mess up with all the verification rubbish. It's been going on for 10 days . Anyway, loaded up £150 for this month and another £150 at the beginning of February.

Coventry has launched another RS issue @ 5% but not opened as I've got others on the go at higher interest rates. Plus, I've already got 2 Coventry RS @ 5.5% with one about to mature.

How did you manage to have two 5.5% regular savers with Coventry?

Bridlington1

Middle_of_the_Road said:

Dizzycap said:

I finally managed to get the YBS Christmas Saver Opened. what a mess up with all the verification rubbish. It's been going on for 10 days . Anyway, loaded up £150 for this month and another £150 at the beginning of February.

Coventry has launched another RS issue @ 5% but not opened as I've got others on the go at higher interest rates. Plus, I've already got 2 Coventry RS @ 5.5% with one about to mature.

How did you manage to have two 5.5% regular savers with Coventry?

Coventry haven't been the best at enforcing their account opening Ts&Cs in the past. You're only meant to be able to open one of each issue of their triple access account but in practice their systems have allowed people to open two of each (one with annual interest, one with monthly interest). I also vaguely recall someone on here was able to open their 7% loyalty regular saver a couple of months ago despite being ineligible but I might be mis-remembering.

Based on the above it wouldn't surprise me much if someone managed to have two 5.5% regular savers with Coventry simultaneously.

Middle_of_the_Road

Bridlington1 said:

Middle_of_the_Road said:

Dizzycap said:

I finally managed to get the YBS Christmas Saver Opened. what a mess up with all the verification rubbish. It's been going on for 10 days . Anyway, loaded up £150 for this month and another £150 at the beginning of February.

Coventry has launched another RS issue @ 5% but not opened as I've got others on the go at higher interest rates. Plus, I've already got 2 Coventry RS @ 5.5% with one about to mature.

How did you manage to have two 5.5% regular savers with Coventry?

Coventry haven't been the best at enforcing their account opening Ts&Cs in the past. You're only meant to be able to open one of each issue of their triple access account but in practice their systems have allowed people to open two of each (one with annual interest, one with monthly interest). I also vaguely recall someone on here was able to open their 7% loyalty regular saver a couple of months ago despite being ineligible but I might be mis-remembering.

Based on the above it wouldn't surprise me much if someone managed to have two 5.5% regular savers with Coventry simultaneously.

That's probably it then. Was it also you could have one branch and one online, or was that another provider?

Nick_C

I decided not to bother with the YBS Christmas Saver.  6% for a maximum of £150 for 9 months just doesn't seem worthwhile to me.  I would only get £3.50 more than putting the money into the Skipton Member Bonus Saver at 5.5%.  And of course the Skipton account lasts for a year, not 9 months, and is very flexible.  Although not marketed as a regular saver, its a great account for anyone who wants to regularly save about £250 every month, but it has the added flexibility of letting you put less in in some months and more in others.

I also won't be opening the Coventry RS paying 5%.  I don't see the the point when there are easy access accounts that pay more, and offer greater flexibility.  

Middle_of_the_Road

Nick_C said:

I decided not to bother with the YBS Christmas Saver.  6% for a maximum of £150 for 9 months just doesn't seem worthwhile to me.  I would only get £3.50 more than putting the money into the Skipton Member Bonus Saver at 5.5%.  And of course the Skipton account lasts for a year, not 9 months, and is very flexible.  Although not marketed as a regular saver, its a great account for anyone who wants to regularly save about £250 every month, but it has the added flexibility of letting you put less in in some months and more in others.

I also won't be opening the Coventry RS paying 5%.  I don't see the the point when there are easy access accounts that pay more, and offer greater flexibility.  

Not opening the Coventry RS either. Might have been worth it If it was a fixed rate.
Don't think they'll get much interest in it, especially now they've launched the Triple Access at 5.15%. 

They even have a Four access ISA @ 5.05% 

Four Access ISA (Online) (coventrybuildingsociety.co.uk)