Regular Savings Accounts: The Best Currently Available List!

jameseonline

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Bigwheels1111

jameseonline said:

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Ask for your £1.12, they will give it to you.

BooJewels

I was thinking about the same thing in respect of the issue with Skipton and the scheduled SO being paid late (not had a reply yet about the last one being cancelled) - if I scheduled the SO for the 1st of the month and it was always paid on the 3rd, 4th or 5th of each month - that diddles me out of about £2 of interest over the year, if my maths is right.  0.075 (%) x 250 / 365 = 5.1p per day x 3 x 12 = £1.84+ - if 5 days late, it's just over £3.

simonsmithsays

Skipton Member Saver 7.5% Maturity

As one of the account holders who haven't closed this early (and then opened up the 7% RS) I see that upon logging into the app I see the following

Your account is due to mature on 31 May 2024.

We'll let you know about your maturity options around two weeks before your account maturity date'

Saffron 9% RS

No indication on the Saffron app as to the maturity options yet

On both accounts I won't be cancelling the SOs quite yet incase these morph into decent accounts.

liamcov

flaneurs_lobster said:

liamcov said:

Leeds BS Regular Saver (Issue 52) 

Can this be opened in addition to the previous issue?

You asked this question a week ago

I guess the answer is still no.

Sorry I thought it was new, can't keep up!

jameseonline

simonsmithsays said:

Skipton Member Saver 7.5% Maturity

As one of the account holders who haven't closed this early (and then opened up the 7% RS) I see that upon logging into the app I see the following

Your account is due to mature on 31 May 2024.

We'll let you know about your maturity options around two weeks before your account maturity date'

Saffron 9% RS

No indication on the Saffron app as to the maturity options yet

On both accounts I won't be cancelling the SOs quite yet incase these morph into decent accounts.

Saffron won't it will change to a poop maturity account earning fudge all & can't pay into, unless you give them maturity instructions.

I always message them instructions to transfer to my easy access account which they do then I move it out myself from there, well technically I send them a request & it gets transferred via fast payment but yeah.

I don't think you have to wait for the maturity thing to show up either, just message them online/app.

I've done this for the Members Month 9% and they've noted my request already.

Can't speak about Skipton but I don't know of ANY Regular Savings accounts that morph into decent savings accounts, only poopy accounts paying less interest.

The only potential benefits I'm aware of is you have a new savings account so could potentially use it to transfer money out & also if you keep the account you could have it in order to get loyalty accounts in the future.

For example I have £100 in Cambridge Building Society, they have loyalty regular savings accounts, the best they do currently is 6%, also I have £1 with Skipton and they do a 5.50% savings account & a 7% account so given time I'll be eligible for those or whatever they have running in the future.

jameseonline

Bigwheels1111 said:

jameseonline said:

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Ask for your £1.12, they will give it to you.

Just me or do you like complaining?

wiseonesomeofthetime

jameseonline said:

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Mine was the same today but, unlike BigWheels1111, I cannot be bothered with chasing £1.12 tbh

jameseonline

simonsmithsays said:

jameseonline said:

simonsmithsays said:

Skipton Member Saver 7.5% Maturity

As one of the account holders who haven't closed this early (and then opened up the 7% RS) I see that upon logging into the app I see the following

Your account is due to mature on 31 May 2024.

We'll let you know about your maturity options around two weeks before your account maturity date'

Saffron 9% RS

No indication on the Saffron app as to the maturity options yet

On both accounts I won't be cancelling the SOs quite yet incase these morph into decent accounts.

Saffron won't it will change to a poop maturity account earning fudge all & can't pay into, unless you give them maturity instructions.

I always message them instructions to transfer to my easy access account which they do then I move it out myself from there, well technically I send them a request & it gets transferred via fast payment but yeah.

I don't think you have to wait for the maturity thing to show up either, just message them online/app.

I've done this for the Members Month 9% and they've noted my request already.

Can't speak about Skipton but I don't know of ANY Regular Savings accounts that morph into decent savings accounts, only poopy accounts paying less interest.

The only potential benefits I'm aware of is you have a new savings account so could potentially use it to transfer money out & also if you keep the account you could have it in order to get loyalty accounts in the future.

For example I have £100 in Cambridge Building Society, they have loyalty regular savings accounts, the best they do currently is 6%, also I have £1 with Skipton and they do a 5.50% savings account & a 7% account so given time I'll be eligible for those or whatever they have running in the future.

Saffron RS have allowed you to keep the same account number and sort code for their 'regular' RS for at least a decade.

I've got a number, albeit limited and not special editions, of other RS (I've got dozens with 11k going out each month) which do similar - i.e. 'mature' but then continue for another year with the same account details.

Keeping the same account number and sort code doesn't necessarily mean anything in itself.

Do you mean keep the same account going but by product switch or something?. Because all that product switching does is transfer up to the max monthly limit into a new agreement/term/account and the remaining money has to go somewhere else and you have to tell them where.

I'm not quite sure what you mean to be honest, I've had accounts mature with Saffron along with accounts I've closed and accounts I've product switched so can only go by my experience.

As for other regular savings accounts do you mean things like Halifax?, I don't think there's that many accounts like that to be honest, most accounts end after a year and convert to a easy access paying a poop rate so would then need to move the money into a decent easy access account, start a new regular etc.

Anyways check your regular savings terms etc.

Bridlington1

wiseonesomeofthetime said:

jameseonline said:

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Mine was the same today but, unlike BigWheels1111, I cannot be bothered with chasing £1.12 tbh

I'd be more than happy to chase the £1.12 if they had underpaid me by that much but I do draw the line at trying to get them to pay me an extra £1.12 if they've already paid me the correct amount of interest in the first place.