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Regular Savings Accounts: The Best Currently Available List!

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  • Bridlington1
    Bridlington1 Posts: 3,719 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Kazza242 said:
    According to Moneyfacts, Principality Building Society are launching a new account called, 1 Year Triple Access Regular Saver, paying 6.00%.

    Pay in £1 - £50 per month.  The maximum investment is £600.

    It permits 3 penalty-free withdrawals during the term of the account.  The account matures after one year.

    It will be available to open online and in branch.

    The account should appear amongst the list of accounts on the Principality BS webpage once launched, here.


    Now on their website:
    https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/1-Year-Triple-Access-Regular-Saver
  • Stargunner
    Stargunner Posts: 989 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    edited 18 April 2024 at 9:11AM
    Kazza242 said:
    According to Moneyfacts, Principality Building Society are launching a new account called, 1 Year Triple Access Regular Saver, paying 6.00%.

    Pay in £1 - £50 per month.  The maximum investment is £600.

    It permits 3 penalty-free withdrawals during the term of the account.  The account matures after one year.

    It will be available to open online and in branch.

    The account should appear amongst the list of accounts on the Principality BS webpage once launched, here.


    Now on their website:
    https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/1-Year-Triple-Access-Regular-Saver
    I already have 2 x Principality Reg savers, but I will pass on this one, as due to the low deposit limits I cant see the point in opening one to earn £3 more in a year than just keeping the money in a 5.0% ea account.
  • pecunianonolet
    pecunianonolet Posts: 1,772 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Opened it last night when @Bridlington1 guessed the link but I now see that interest is paid on 1st Jan and is flexible. Was opening it so I can get interest paid next financial year as I was hoping it is paid annually on date of opening. Already maxed out PSA for this year so I am better off with an ISA. Will leave the account unfunded for them to close it automatically.

    "Interest is calculated on the money in the account each day and paid each year on 1 January"
  • Section62
    Section62 Posts: 9,742 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Kazza242 said:
    According to Moneyfacts, Principality Building Society are launching a new account called, 1 Year Triple Access Regular Saver, paying 6.00%.

    Pay in £1 - £50 per month.  The maximum investment is £600.

    It permits 3 penalty-free withdrawals during the term of the account.  The account matures after one year.

    It will be available to open online and in branch.

    The account should appear amongst the list of accounts on the Principality BS webpage once launched, here.


    Now on their website:
    https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/1-Year-Triple-Access-Regular-Saver
    I already have 2 x Principality Reg savers, but I will pass on this one, as due to the low deposit limits I cant see the point in opening one to earn £3 more in a year than just keeping the money in a 5.0% ea account.
    The question is for how long will we still be getting 5% in those EA accounts?
  • happybagger
    happybagger Posts: 1,033 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Even if only for a few months, and even if BoE were inclined to make four reductions to 4.25% over the period of this account, the loss by not opening it would me minimal. A decent deposit limit would have persuaded me differently.


  • qbadger
    qbadger Posts: 89 Forumite
    Second Anniversary 10 Posts Name Dropper
    "If your account reaches £600.00, you cannot pay anymore money in."

    Not sure how Principality would treat the month 12 contribution, which together with the expected interest payment on 01 January could take the account balance above £600. 
  • qbadger said:
    "If your account reaches £600.00, you cannot pay anymore money in."

    Not sure how Principality would treat the month 12 contribution, which together with the expected interest payment on 01 January could take the account balance above £600. 
    It wouldn't go above £600 at the time you'd be making the 12th payment, even with the added interest.
  • where_are_we
    where_are_we Posts: 1,216 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 18 April 2024 at 11:32AM
    Thanks Kazza242 and Bridlington1 for link to new Principality RS @ 6%. If you are already a Principality customer, it is very quick and easy to open. You can only make 12 payments of £50 - so no 13th payment possible. Deposit £50 today to name - Principality Building Society, Business account, sort code 20-18-23 account number (Removed by Forum Team) with your new RS account number as reference. You will get confirmation of payee come up. Then set up 11 standing orders for £50 starting 1/5/24 and ending 3/3/25 (1/3/25 is a Saturday).
  • Kim_13
    Kim_13 Posts: 3,412 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    qbadger said:
    "If your account reaches £600.00, you cannot pay anymore money in."

    Not sure how Principality would treat the month 12 contribution, which together with the expected interest payment on 01 January could take the account balance above £600. 
    I had a moan to that effect on their feedback pop up - but the section that states what the balance could be after 12 months as £619.50 implies that you could. I guess if you paid £40 in in month 12 you maybe wouldn’t then be able to add another £10 as the balance would already be over £600 before the payment arrived with them.

    Hopefully they update the page to clarify.
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