Regular Savings Accounts: The Best Currently Available List!

MrsCautious

Bridlington1 said:

EDIT:
West Brom BS Fixed Rate Regular Saver (Issue 7) is also no longer branch only, it can now be opened online by existing customers and those who live in one of their branch postcode areas (B, DY, WV, WS and SY)

thank you, I’ve just applied. 

trickydicky14

Just seen an article saying YBS is pulling it's Christmas RS in two days time 21st.  Mind you, it's one I haven't bothered with this time round with such small returns. 

FB13

soulsaver said:

Speculator said:

schiff said:

I've got four regular savers maturing the first week of March:
Saffron Walden 5.25%
Lloyds Monthly 5.25%
Bank of Scotland 5.50%
Club Lloyds 6.25%
I feel that we're at something of a critical juncture so it will be interesting to see which way they jump, especially the Club Lloyds.

Renewed and reopened my Club Monthly yesterday. Was due to mature 6th March but didn't want to wait in case Lloyds launch a new issue with a lower rate.

Same applies to the monthly saver. It's 'only' 5.25% but it's fixed.
I just renewed/closed/reopened it..

Why not wait? Well I have a bit of cash flow shortfall at end of the next couple months to feed my RSs, while  waiting for a 95 day notice ac.* to free up funds mid April.

While searching my spread sheet for odds & sods to bridge, had this bright idea that loses next to nowt - and frees up £2k+ into a 5.20% EA (Santander/Beehive, both NLA) ITMT.  -  0.05% less on c£2k for c.1 month is near enough nowt.

The 5.25%, whilst not that good now, is instant access if needed, and reopening it fixes the rate for another year.

Plus, as @Speculator says, Lloyds may replace it lower if I wait... and 5.25% may look a lot better in a few months.  

I decided to start hedging my bets and renewed my 5.25% Lloyds one today. Since the difference in interest for the next two weeks between it and 5.20% at Santander is so low, I figured it was worth locking in the 5.25% for another 12 months. 

I held off on my 6.25% Lloyds and 5.5% BoS for now. I might do the Club Lloyds one later this week. The difference in interest for a couple extra days is also probably not the risk Lloyds reduces it. My BoS one runs until 30 March so I might wait for that one. 

Speculator

trickydicky14 said:

Just seen an article saying YBS is pulling it's Christmas RS in two days time 21st.  Mind you, it's one I haven't bothered with this time round with such small returns. 

Saw it as well but not opened yet. 

"Yorkshire Building Society has announced plans to withdraw one of its most popular savings accounts from the market which pays a six per cent interest rate.

The financial institution will withdraw the Christmas Regular Saver account from sale on February 21.

This means the building society’s customers only have days left to take advantage of this competitive savings interest rate."

Source: GB news

dcs34

Is there any basis (rumours / gossip) for people thinking the Club Lloyds Monthly Saver might have its rate reduced?

Mine matures in 11 days so very tempted to 'renew' it now to lock the 6.25% for another year.

pecunianonolet

dcs34 said:

Is there any basis (rumours / gossip) for people thinking the Club Lloyds Monthly Saver might have its rate reduced?

Mine matures in 11 days so very tempted to 'renew' it now to lock the 6.25% for another year.

Same here, matures on the 1st, with interest becoming available on the 2nd and will wait until it's "officially" possible to open a new account again. The risk of T&C issues is too high for me to risk it for a few days only.

francoghezzi

pecunianonolet said:

dcs34 said:

Is there any basis (rumours / gossip) for people thinking the Club Lloyds Monthly Saver might have its rate reduced?

Mine matures in 11 days so very tempted to 'renew' it now to lock the 6.25% for another year.

Same here, matures on the 1st, with interest becoming available on the 2nd and will wait until it's "officially" possible to open a new account again. The risk of T&C issues is too high for me to risk it for a few days only.

Lloyds recently launched a £175 offer to switch account and between the perks is clearly stated the possibility to open a 6.25% regular saver. I don't see any reason to decrease that rate while the switching offer is still on the market unless they go mad. Anything's possible in life, but this could be a suicide ...
...(The famous last words ...)

Section62

francoghezzi said:

pecunianonolet said:

dcs34 said:

Is there any basis (rumours / gossip) for people thinking the Club Lloyds Monthly Saver might have its rate reduced?

Mine matures in 11 days so very tempted to 'renew' it now to lock the 6.25% for another year.

Same here, matures on the 1st, with interest becoming available on the 2nd and will wait until it's "officially" possible to open a new account again. The risk of T&C issues is too high for me to risk it for a few days only.

Lloyds recently launched a £175 offer to switch account and between the perks is clearly stated the possibility to open a 6.25% regular saver. I don't see any reason to decrease that rate while the switching offer is still on the market unless they go mad. Anything's possible in life, but this could be a suicide ...
...(The famous last words ...)

Is it likely many people will forgo the opportunity to make an easy £175 by simply switching, just because the regular saver now pays (say) 5.25% rather than 6.25% ?

If they have promised* 6.25% then they would need to honour that, but otherwise reducing the rate being offered on a side product doesn't seem as extreme as "suicide".

*I haven't read the T&C's but would doubt they haven't given themselves the space to reduce the rates available if necessary.

ColdIron

The Club Lloyds Monthly Saver interest rate is fixed at 6.25%

• Earn 6.25% gross/AER fixed interest. This is paid after 12 months.

https://www.lloydsbank.com/savings/club-lloyds-monthly-saver.html

francoghezzi

Section62 said:

francoghezzi said:

pecunianonolet said:

dcs34 said:

Is there any basis (rumours / gossip) for people thinking the Club Lloyds Monthly Saver might have its rate reduced?

Mine matures in 11 days so very tempted to 'renew' it now to lock the 6.25% for another year.

Same here, matures on the 1st, with interest becoming available on the 2nd and will wait until it's "officially" possible to open a new account again. The risk of T&C issues is too high for me to risk it for a few days only.

Lloyds recently launched a £175 offer to switch account and between the perks is clearly stated the possibility to open a 6.25% regular saver. I don't see any reason to decrease that rate while the switching offer is still on the market unless they go mad. Anything's possible in life, but this could be a suicide ...
...(The famous last words ...)

Is it likely many people will forgo the opportunity to make an easy £175 by simply switching, just because the regular saver now pays (say) 5.25% rather than 6.25% ?

If they have promised* 6.25% then they would need to honour that, but otherwise reducing the rate being offered on a side product doesn't seem as extreme as "suicide".

*I haven't read the T&C's but would doubt they haven't given themselves the space to reduce the rates available if necessary.

Considering Fd holding tight with their 7% and Nationwide reducing its Rs to 6.5% that is still higher than the best Lloyds option that will be, if not a suicide, a really bad move