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Regular Savings Accounts: The Best Currently Available List!

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Comments

  • Bridlington1
    Bridlington1 Posts: 3,735 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    edited 26 March 2024 at 11:35PM
    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. 
  • jameseonline
    jameseonline Posts: 1,065 Forumite
    1,000 Posts First Anniversary Name Dropper
    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
    kaMelo Posts: 2,857 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    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
    Bridlington1 Posts: 3,735 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    edited 27 March 2024 at 1:24AM
    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
    jameseonline Posts: 1,065 Forumite
    1,000 Posts First Anniversary Name Dropper
    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
  • surreysaver
    surreysaver Posts: 4,814 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    kaMelo said:
    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.
    Its better now they've reduced the direct debit down from £25 to £10
    I consider myself to be a male feminist. Is that allowed?
  • Bridlington1
    Bridlington1 Posts: 3,735 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    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.
    Now live on their site https://www.ybs.co.uk/savings/product?id=YB901839W
    • You can only hold a First Home eSaver account if you are saving towards owning your first home. We reserve the right to transfer the account to the Internet Saver Plus Issue 14 if this is not the case.
    It looks like I've timed it very well then, I'm currently in the process of buying my first home. Another month or two and I'd have been ineligible if all goes according to plan.
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