Regular Savings Accounts: The Best Currently Available List!

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

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