Regular Savings Accounts: The Best Currently Available List!

Aidanmc

Did someone mention about a Co-op regular saver coming soon?

trickydicky14

Aidanmc said:

Did someone mention about a Co-op regular saver coming soon?

Yes someone did but to date, no more information.

Middle_of_the_Road

Aidanmc said:

Did someone mention about a Co-op regular saver coming soon?

Yes, someone mentioned it would be released on the 22nd of this month.

ETA- link
Co Op Switch offer (seen 15th January 2024) - Page 53 — MoneySavingExpert Forum

Bridlington1

Middle_of_the_Road said:

Aidanmc said:

Did someone mention about a Co-op regular saver coming soon?

Yes, someone mentioned it would be released on the 22nd of this month.

ETA- link
Co Op Switch offer (seen 15th January 2024) - Page 53 — MoneySavingExpert Forum

I've just spoken to someone from Co-op over the phone. They have given me the following details about the account

• Account will be launched on 22/2/24
• Available to current account customers only
• Account pays 7% variable for 12 months
• Decreases of the interest rate are subject to 2 months notice
• Min opening balance of £1 which must be deposited within 30 days
• Max deposit £250 per calendar month
• You can skip months if you wish
• Unlimited withdrawals permitted
• Deposits can be made by transfer from an external current account if you wished

pecunianonolet

Bridlington1 said:

Middle_of_the_Road said:

Aidanmc said:

Did someone mention about a Co-op regular saver coming soon?

Yes, someone mentioned it would be released on the 22nd of this month.

ETA- link
Co Op Switch offer (seen 15th January 2024) - Page 53 — MoneySavingExpert Forum

I've just spoken to someone from Co-op over the phone. They have given me the following details about the account

• Account will be launched on 22/2/24
• Available to current account customers only
• Account pays 7% variable for 12 months
• Decreases of the interest rate are subject to 2 months notice
• Min opening balance of £1 which must be deposited within 30 days
• Max deposit £250 per calendar month
• You can skip months if you wish
• Unlimited withdrawals permitted
• Deposits can be made by transfer from an external current account if you wished

Will be interesting to see if Cashminder accounts be eligible too. 

Middle_of_the_Road

Bridlington1 said:

Middle_of_the_Road said:

Aidanmc said:

Did someone mention about a Co-op regular saver coming soon?

Yes, someone mentioned it would be released on the 22nd of this month.

ETA- link
Co Op Switch offer (seen 15th January 2024) - Page 53 — MoneySavingExpert Forum

I've just spoken to someone from Co-op over the phone. They have given me the following details about the account

• Account will be launched on 22/2/24
• Available to current account customers only
• Account pays 7% variable for 12 months
• Decreases of the interest rate are subject to 2 months notice
• Min opening balance of £1 which must be deposited within 30 days
• Max deposit £250 per calendar month
• You can skip months if you wish
• Unlimited withdrawals permitted
• Deposits can be made by transfer from an external current account if you wished

Thanks for following up, and confirming this. This is one I'll be opening, much better than the recent Yorkshire BS Christmas saver, which unusually didn't interest me. (No pun intended)

allegro120

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.

It is understandable that people are panicking because many saving products either disappearing or reducing their rates.  Many EAs, NAs, fixed bonds were affected by BoE holding the rate.  However, this had very little impact on RS products. In fact, since the BoE rate stopped rising there were numerous new offers at 6%+.  I think the reason is that RS products are not designed for making profit directly, but as a promotional feature to gain and keep the custom.  My crystal ball is telling me that CLMS is not going to drop its current rate in near future, at least until the basic rate start reducing.  Also Lloyds are unlikely to change the rate before their switching offer expires.  My CLRS matures on 5th March and I'm not going to 'renew' it before that date.  

schiff

The benefit for me, having deposited my final £400 on February 1st, was to be able to deposit another £400 today, with another on March 1st.

allegro120

schiff said:

The benefit for me, having deposited my final £400 on February 1st, was to be able to deposit another £400 today, with another on March 1st.

Interesting. I didn't know you can double your monthly deposit.

friolento

ColdIron said:

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

It is also paid immediately if you “renew” your CL Monthly Saver