Regular Savings Accounts: The Best Currently Available List!

allegro120

jameseonline said:

I think there was a very brief time Ecology was attractive but hasn't been for a very long time now.

Nice to know they've put up their rate but can be beaten by other regulars + instant access.

I can't recall this account ever offering competitive rate. I've opened it some years ago for DD, used for several banks' offers and it eventually settled to serve Natwest's reward.  I have 3 spare DDs I'm not using and had a thought to close Ecology RS, but decided to leave it running.  Dedicating £25 p/m at 3.75% had a negligible impact on the overall profit from my savings. Now the minimum was reduced to £10 and the rate increased to 4.25% - I have no desire to close Ecology RS.

jameseonline

allegro120 said:

jameseonline said:

I think there was a very brief time Ecology was attractive but hasn't been for a very long time now.

Nice to know they've put up their rate but can be beaten by other regulars + instant access.

I can't recall this account ever offering competitive rate. I've opened it some years ago for DD, used for several banks' offers and it eventually settled to serve Natwest's reward.  I have 3 spare DDs I'm not using and had a thought to close Ecology RS, but decided to leave it running.  Dedicating £25 p/m at 3.75% had a negligible impact on the overall profit from my savings. Now the minimum was reduced to £10 and the rate increased to 4.25% - I have no desire to close Ecology RS.

I had a Ecology one ages ago paying 1.3% it seems 🤣, had a Coventry one paying 1.25% originally too

allegro120

jameseonline said:

allegro120 said:

jameseonline said:

I think there was a very brief time Ecology was attractive but hasn't been for a very long time now.

Nice to know they've put up their rate but can be beaten by other regulars + instant access.

I can't recall this account ever offering competitive rate. I've opened it some years ago for DD, used for several banks' offers and it eventually settled to serve Natwest's reward.  I have 3 spare DDs I'm not using and had a thought to close Ecology RS, but decided to leave it running.  Dedicating £25 p/m at 3.75% had a negligible impact on the overall profit from my savings. Now the minimum was reduced to £10 and the rate increased to 4.25% - I have no desire to close Ecology RS.

I had a Ecology one ages ago paying 1.3% it seems 🤣, had a Coventry one paying 1.25% originally too

I've never had RS accounts paying under 2%, even at the time when BoE rates were close to 0% and there were talks about a negative rate.

Bridlington1

allegro120 said:

jameseonline said:

I think there was a very brief time Ecology was attractive but hasn't been for a very long time now.

Nice to know they've put up their rate but can be beaten by other regulars + instant access.

I can't recall this account ever offering competitive rate. I've opened it some years ago for DD, used for several banks' offers and it eventually settled to serve Natwest's reward.  I have 3 spare DDs I'm not using and had a thought to close Ecology RS, but decided to leave it running.  Dedicating £25 p/m at 3.75% had a negligible impact on the overall profit from my savings. Now the minimum was reduced to £10 and the rate increased to 4.25% - I have no desire to close Ecology RS.

I seem to recall it hit 2.85% in autumn 2022 (November(ish) IIRC), which at the time was just above the top EA accounts, though only by about 0.04% or something (Al Rayan at 2.81% rings a bell), but that's about as competitive as I can remember it getting in the time I've kept an eye on the account. It was then overtaken by a string of 3% EA accounts a few weeks later. 

Bridlington1

YBS First Home Saver to be launched at 5%

• £500/mth max
• 1 Withdrawal/yr (excluding closure)
• Account lasts 2 years
• Can skip months if you wish
• Account can be opened with £1

jameseonline

Bridlington1 said:

YBS First Home Saver to be launched at 5%
£500/mth max
1 Withdrawal/yr (excluding closure)
Account lasts 2 years
Can skip months if you wish
Account can be opened with £1

Do you have to buy a home with it?, mind you it's only 5%

kaMelo

Whilst it's nice to see them upping their rates, as others have said, holding an Ecology BS savings account was never about the rates they offered, it was only ever about being able to fund them via direct debit as this is what enabled qualification for current account rewards or switch offers. Just keep funding and withdraw down to their minimum balance after six months or so then rinse and repeat. 
I'll keep my accounts open for as long as they keep the DD funding option.

Bridlington1

jameseonline said:

Bridlington1 said:

YBS First Home Saver to be launched at 5%
£500/mth max
1 Withdrawal/yr (excluding closure)
Account lasts 2 years
Can skip months if you wish
Account can be opened with £1

Do you have to buy a home with it?, mind you it's only 5%

I haven't many further details about it yet (it's only just appeared on moneyfacts), but the account allows penalty free withdrawals so I very much doubt you need to buy a property with it, I've also yet to see a first home regular saver that requires you to use the funds towards a home, though having said that it may or may not be restricted to those who are yet to buy their first home yet though (we'll find out in the morning).

At £1 to open and no further funding requirements I think it's worth opening speculatively, particularly given the account lasts two years.

jameseonline

Bridlington1 said:

jameseonline said:

Bridlington1 said:

YBS First Home Saver to be launched at 5%
£500/mth max
1 Withdrawal/yr (excluding closure)
Account lasts 2 years
Can skip months if you wish
Account can be opened with £1

Do you have to buy a home with it?, mind you it's only 5%

I haven't many further details about it yet (it's only just appeared on moneyfacts), but the account allows penalty free withdrawals so I very much doubt you need to buy a property with it, I've also yet to see a first home regular saver that requires you to use the funds towards a home, though having said that it may or may not be restricted to those who are yet to buy their first home yet though (we'll find out in the morning).

At £1 to open and no further funding requirements I think it's worth opening speculatively, particularly given the account lasts two years.

Better Home Regular Savers:

Principality @ 5.25%
https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-Online

Leeds @ 5.15%
https://www.leedsbuildingsociety.co.uk/savings/regular-saver/home-deposit-saver/

Coventry @ 5.05%
https://coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Bridlington1

jameseonline said:

Bridlington1 said:

jameseonline said:

Bridlington1 said:

YBS First Home Saver to be launched at 5%
£500/mth max
1 Withdrawal/yr (excluding closure)
Account lasts 2 years
Can skip months if you wish
Account can be opened with £1

Do you have to buy a home with it?, mind you it's only 5%

I haven't many further details about it yet (it's only just appeared on moneyfacts), but the account allows penalty free withdrawals so I very much doubt you need to buy a property with it, I've also yet to see a first home regular saver that requires you to use the funds towards a home, though having said that it may or may not be restricted to those who are yet to buy their first home yet though (we'll find out in the morning).

At £1 to open and no further funding requirements I think it's worth opening speculatively, particularly given the account lasts two years.

Better Home Regular Savers:

Principality @ 5.25%
https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-Online

Leeds @ 5.15%
https://www.leedsbuildingsociety.co.uk/savings/regular-saver/home-deposit-saver/

Coventry @ 5.05%
https://coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

I know, I have the first two and am ineligible for the third because I have the NLA Coventry FHS Issue 1 at 5.6%. For me the fact that it is a FHS is largely irrelevant though, I will treat it just like any other regular saver.

My point is though that the account could become competitive in the future, at 5% it's not far below the top easy access accounts and lasts 2 years, a lot could happen with savings rates in this time (just look at how much savings interest rates have changed in the last 2 years). The account can be opened with £1, allows withdrawals if necessary and has a fairly large max monthly deposit limit, personally I think it worth opening with £1 just in case.