Regular Savings Accounts: The Best Currently Available List!

friolento

fun4everyone said:

 

With the RBS/NatWest digital savers are you allowed one at each brand, so therefore two in total or is it one only across all their brands?

If you have the requisite current account at each of the banks, you can have digital savers at both, too

Bridlington1

fun4everyone said:

Opened up a slew of regular savers at the start of March.  Waiting now for the 1st of the month to open the next lot.  I presume its better to start then.  Finally got hold of a First Direct current account, hopefully they dont drop the 7% rate until I open it!  Also going to open the co-op one on the 1st.

With the RBS/NatWest digital savers are you allowed one at each brand, so therefore two in total or is it one only across all their brands?

First of all most regular savers go by calendar month you'll earn the most interest if you open and fund them on the last day of the month as you can make your second deposit the next day (1st).

Co-op are quite slow with account openings so I would apply now to secure the account. The term of the Co-op regular saver doesn't start until you make your first deposit so applying now and funding on 31/3/24 would probably be your best bet there.

You can hold both the NatWest and RBS regular savers simultaneously. I have both and have had them for over 2 years now.

subjecttocontract

If you are opening a few regular savers you might want to prioritise those paying a fixed interest as rates generally are expected to fall soon. E.g. Halifax, BoS, TSB, FD, West Brom etc.....

fun4everyone

friolento said:

If you have the requisite current account at each of the banks, you can have digital savers at both, too

Ty, I will do doing just that then.

Bridlington1 said:

First of all most regular savers go by calendar month you'll earn the most interest if you open and fund them on the last day of the month as you can make your second deposit the next day (1st).

Co-op are quite slow with account openings so I would apply now to secure the account. The term of the Co-op regular saver doesn't start until you make your first deposit so applying now and funding on 31/3/24 would probably be your best bet there.

You can hold both the NatWest and RBS regular savers simultaneously. I have both and have had them for over 2 years now.

Spor on about Co-op being slow. I actually have the current account fully open and ready to go now. It was indeed as you say, slow - but its ready. Very good point about the last day of the month followed by the next one, your banking genius is appreciated Bridlington. I will be attempting to do what you describe.

Wheres_My_Cashback

fun4everyone said:

Opened up a slew of regular savers at the start of March.  Waiting now for the 1st of the month to open the next lot.  I presume its better to start then.  Finally got hold of a First Direct current account, hopefully they dont drop the 7% rate until I open it!  Also going to open the co-op one on the 1st.

With the RBS/NatWest digital savers are you allowed one at each brand, so therefore two in total or is it one only across all their brands?

Generally, the best time of month to open and fund most RS is near the end of the month if deposits can be made PCM as you can then follow up the 2nd payment at the start of the next month. This will boost your overall interest amount at maturity, whereas if deposits are only permitted PAM then it doesn't really matter.
You can have both RBoS/NatWest.

fun4everyone

subjecttocontract said:

If you are opening a few regular savers you might want to priorities those paying a fixed interest as rates generally are expected to fall soon. E.g. Halifax, BoS, TSB, FD, West Brom etc.....

Thanks yeah.  Have most of these open already.  FD only got approved for the current account today.  No details or online banking yet, that one will have to wait.  Halifax I was waiting until the 1st?

ColdIron

fun4everyone said:

subjecttocontract said:

If you are opening a few regular savers you might want to priorities those paying a fixed interest as rates generally are expected to fall soon. E.g. Halifax, BoS, TSB, FD, West Brom etc.....

Halifax I was waiting until the 1st?

Worst time to open it, do it towards the end of March

Bridlington1

fun4everyone said:

friolento said:

If you have the requisite current account at each of the banks, you can have digital savers at both, too

Ty, I will do doing just that then.

Bridlington1 said:

First of all most regular savers go by calendar month you'll earn the most interest if you open and fund them on the last day of the month as you can make your second deposit the next day (1st).

Co-op are quite slow with account openings so I would apply now to secure the account. The term of the Co-op regular saver doesn't start until you make your first deposit so applying now and funding on 31/3/24 would probably be your best bet there.

You can hold both the NatWest and RBS regular savers simultaneously. I have both and have had them for over 2 years now.

Spor on about Co-op being slow. I actually have the current account fully open and ready to go now. It was indeed as you say, slow - but its ready. Very good point about the last day of the month followed by the next one, your banking genius is appreciated Bridlington. I will be attempting to do what you describe.

The Co-op savings account is also slow to set up (mine took nearly a week if my memory serves me well) but you get 30 days to fund it and the term starts when you first fund it so I'd apply for it now if I were you.

Whilst you're at it a lot of building societies offer exclusive regular savers (and other account types) specifically for existing members and/or those who have banked with them continuously for however long (often a year). It would probably be worth opening some building society accounts with £1 so you can become eligible for their ``loyalty" products later on. 

fun4everyone

ColdIron said:

fun4everyone said:

subjecttocontract said:

If you are opening a few regular savers you might want to priorities those paying a fixed interest as rates generally are expected to fall soon. E.g. Halifax, BoS, TSB, FD, West Brom etc.....

Halifax I was waiting until the 1st?

Worst time to open it, do it towards the end of March

Yes, this I now understand and will be aiming for the end of month opening. 

My understanding of this from above posts is its because of allowing payments per calender month.  So open and first payment end of March, next payment 1st April.  I will have to check carefully which regular savers dont use the calender month rule.

fun4everyone

Bridlington1 said:

The Co-op savings account is also slow to set up (mine took nearly a week if my memory serves me well) but you get 30 days to fund it and the term starts when you first fund it so I'd apply for it now if I were you.

Whilst you're at it a lot of building societies offer exclusive regular savers (and other account types) specifically for existing members and/or those who have banked with them continuously for however long (often a year). It would probably be worth opening some building society accounts with £1 so you can become eligible for their ``loyalty" products later on. 

Interesting.  I do have a lot of old building society accounts already, a couple I am already using for their reg savers.  A good tip thanks.