Regular Savings Accounts: The Best Currently Available List!

where_are_we

Skipton 7.5% - I`m sticking with it, 3 payments to go, but as others have said you need a crystal ball to know if the Sipton 7% will still be around in a few months time.

AmityNeon

10_66 said:

Speculator said:

castle96 said:

Middle_of_the_Road said:

castle96 said:

Has the Skipton 7% fixed gone ?

I still see it available in the app.

I have this 7.5% on PC for some months. Still cant find 7%! Can you have both?

Might be worth closing existing 7.5% and open the 7% regular

I'm trying to work out if it's beneficial for me to close the 7.50% early in order to secure the 7% for a further 12 months. My 7.50% matures in June, I've made 9 payments into it. I'm not sure if I'm doing this correctly, but using MSE's regular saver calculator it looks like I might lose around £43 over the 12 month period (June to June) if I close early (taking into account that I'd start to earn 7% for the remainder). Does this look right, please?

You'll lose about £14 if your standard rate is 5%. This assumes you close the 7.5% account now, open the 7% account with £250, continue depositing £250 at the beginning of each month, whilst the remaining £2,000 (excess from the old account) earns 5% until 1st June.

Formula for (whole month) approximations:

(m / 24) * (n − 12) * ((n − 13) * x + (2 * n * y))

m = monthly contribution
n = number of months/deposits of current RS
x = new RS interest rate minus current RS interest rate
y = current RS interest rate minus standard interest rate

m = 250
n = 9
x = 7.00% - 7.50% = -0.005
y = 7.50% - 5.00% = 0.025

happybagger

Bridlington1 said:

Not top regular savers by any strech of the imagination but may be of interest to those who have them sat with minimum balances:
Darlington BS Regular Monthly Saver will reduce from 4.6% to 4.2% from 4/3/24. Source: Letter
Green RS and Special Occasion Saver (both NLA) will also reduce from 4.6% to 4.2% on 4/3/24

I have the Special Occasions (balance over £100) and haven't received any letter (or email) yet.

10_66

happybagger said:

Bridlington1 said:

Not top regular savers by any strech of the imagination but may be of interest to those who have them sat with minimum balances:
Darlington BS Regular Monthly Saver will reduce from 4.6% to 4.2% from 4/3/24. Source: Letter
Green RS and Special Occasion Saver (both NLA) will also reduce from 4.6% to 4.2% on 4/3/24

I have the Special Occasions (balance over £100) and haven't received any letter (or email) yet.

They must be staggering the letters, I had one letter for the Regular Monthly one day, and then a few days later I got them for the Special Occasions.

nightowl888

I have received a letter for both now - the special occasion letter arrived yesterday

Section62

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

badger09

simonsmithsays said:

Bridlington1 said:

OneUser1 said:

What’s the general feeling regarding existing Nationwide Start to Save Issue 2 accounts now the prize draw is presumably finished. Are people closing theirs? Reducing the balance to the minimum but keeping it alive? Or did everyone other than me get in so early their two years are already up?

I'm keeping mine alive and fully funded for now since the interest rate is still high enough for me to warrant funding it. I will probably give the account the chop in April though.

This isn't specific to this account though, I'm finishing Uni this year so the era of me not having to worry about being taxed on savings interest looks as though it could come to an end soon (depending on how things pan out with getting a job after uni and how much I have left over from a likely property purchase this year) so this will likely inflict some serious damage to my regular saver collection as I will be wanting to ensure a decent chunk of my interest from regular savers is paid this tax year, particularly for the lower paying accounts and ones that are due to mature fairly early on in the next tax year anyway.

Please ensure you get a job that fits around how helpful you are on here.

It's appreciated 👍

Obviously good luck in the search - you're clearly very capable so won't struggle.

Heartily agree. 

@Bridlington1
Good luck with your next steps. 
May I suggest retail banking might not be an ideal first choice for job applications 😉

surreysaver

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Not yet...

subjecttocontract

Got a letter in the post today with my Co-op sort code & account number.

dcs34

subjecttocontract said:

Got a letter in the post today with my Co-op sort code & account number.

Had the same - at the top of the letter next to 'Account Number' there's 6 digits I assume is the sort code, then 8 digit account number, then 2 extra digits.

Although having tried a few banks, including Co-op, none will recognise the details - despite the letter saying that I can 'start saving' and 'easily transfer money'. The letter as written seems a bit confused about whether I've opened a Current Account rather than the Regular Saver. And some of the website addresses in it don't work!

Has anyone else managed to make the payment, or had similar issues?