Regular Savings Accounts: The Best Currently Available List!

Bridlington1

Growingold said:

jameseonline said:

Or setup closer to the end of the month making the next payment on the 1st

If it is still available.  It it's very popular may not stay long but that is a chance one takes.  
2 sayings spring to mind completely contradicting each other
Firstly 'only fools rush in'  and Secondly 'he who hesitates is lost'

Alternatively you can use the fact that historically Principality's regular savers have consistently disappeared from moneyfacts at midnight on the day they are due to go NLA before being removed from their website between 8-9am(ish) that morning to your advantage. Keep an eye on moneyfacts and then apply as soon as it disappears from their list, thereby hesitating but not losing out on the account.

You could also use the fact that there is a very nice Welsh building society that has a habit of failing to deactivate old savings account application links, which may well have enabled people to get hold of a 5% Xmas regular saver last year, several months after it went NLA and just open the account at a time that suits you.

jameseonline

10_66 said:

jameseonline said:

10_66 said:

ThePirates said:

So the Principality 6 Mth Saver says £200 per month. To maximise interest am I right in thinking £200 today and the the 1st of each month for the next 5 or is it the 20th of each month?

You can deposit now and then on 1st of the month.  Maximum balance permitted is £1,200 over the 6 month period.

Or setup closer to the end of the month making the next payment on the 1st

If it's still available at the end of the month.

Why wouldn't it be?, they've only just launched it, pretty sure it will be around for just over a week, pretty sure their other regular accounts have lasted more than a week before being pulled too.

But yes it's a possibility but I doubt it.

Section62

Bridlington1 said:

Growingold said:

jameseonline said:

Or setup closer to the end of the month making the next payment on the 1st

If it is still available.  It it's very popular may not stay long but that is a chance one takes.  
2 sayings spring to mind completely contradicting each other
Firstly 'only fools rush in'  and Secondly 'he who hesitates is lost'

Alternatively you can use the fact that historically Principality's regular savers have consistently disappeared from moneyfacts at midnight on the day they are due to go NLA before being removed from their website between 8-9am(ish) that morning to your advantage. Keep an eye on moneyfacts and then apply as soon as it disappears from their list, thereby hesitating but not losing out on the account.

...

Given the minimum operating balance on the account is just £1 there is also the 'third way' option of opening the account today and sticking a quid in it, then deciding on 30/06/2024 whether it is worth adding more funds to the account this month. Or not.

jameseonline said:

10_66 said:

If it's still available at the end of the month.

Why wouldn't it be?, they've only just launched it, pretty sure it will be around for just over a week, pretty sure their other regular accounts have lasted more than a week before being pulled too.

But yes it's a possibility but I doubt it.

In the past some providers have pulled their RS accounts within 24/48 hours.

Principality doing a 6 month RS account is a bit of an oddity compared to their normal offerings, so I'd be reluctant to rely on their past performance as any kind of guide to how long this account may be on offer for.

As suggested above, it only takes a few minutes and £1 to apply for the account... which instantly takes away the stress and worry of whether it will still be available tomorrow/next week/at the end of the month/etc etc.

Descrabled

Principality 6 month saver

To maximise your income (interest) it is always best to open and add the maximum payment (£200) as near as possible to the last day of the month followed by 5 more payments on the 1st of the following months.

The idea of opening with £1 now and making a decision on further payments later gives the poorest return. 8% is an excellent return and should be subscribed to at the expense of any lower interest savings.

Note that I have only one regular saver at an interest below 6% and that is the Coventry FHS 1 (NLA) that I use as my petty cash and account to feed my other regular savers.

dekkard

Anyone else seeing an error when trying to open this new Principality account?

courier9585

dekkard said:

Anyone else seeing an error when trying to open this new Principality account?

Yep, get as far as marketing preferences and it throws an error, tried different browsers with same result,

flaneurs_lobster

dekkard said:

Anyone else seeing an error when trying to open this new Principality account?

Nope, opened and funded within the last hour.

What kind of error?

surreysaver

dekkard said:

Anyone else seeing an error when trying to open this new Principality account?

Had an error the first time I tried, but managed to proceed with the application when I tried a second time 

allegro120

jameseonline said:

10_66 said:

jameseonline said:

10_66 said:

ThePirates said:

So the Principality 6 Mth Saver says £200 per month. To maximise interest am I right in thinking £200 today and the the 1st of each month for the next 5 or is it the 20th of each month?

You can deposit now and then on 1st of the month.  Maximum balance permitted is £1,200 over the 6 month period.

Or setup closer to the end of the month making the next payment on the 1st

If it's still available at the end of the month.

Why wouldn't it be?, they've only just launched it, pretty sure it will be around for just over a week, pretty sure their other regular accounts have lasted more than a week before being pulled too.

But yes it's a possibility but I doubt it.

Past performance is no guarantee of future results.  Since I've missed 7% MonBS in August last year (it was on sale for only one or two days) I open accounts on the day they become available. May not be the perfect strategy but works for me well.

Bridlington1

allegro120 said:

jameseonline said:

10_66 said:

jameseonline said:

10_66 said:

ThePirates said:

So the Principality 6 Mth Saver says £200 per month. To maximise interest am I right in thinking £200 today and the the 1st of each month for the next 5 or is it the 20th of each month?

You can deposit now and then on 1st of the month.  Maximum balance permitted is £1,200 over the 6 month period.

Or setup closer to the end of the month making the next payment on the 1st

If it's still available at the end of the month.

Why wouldn't it be?, they've only just launched it, pretty sure it will be around for just over a week, pretty sure their other regular accounts have lasted more than a week before being pulled too.

But yes it's a possibility but I doubt it.

Past performance is no guarantee of future results.  Since I've missed 7% MonBS in August last year (it was on sale for only one or two days) I open accounts on the day they become available. May not be the perfect strategy but works for me well.

It was on offer for around 24 hours IIRC (including the time after it had been removed from the website but before the application link stopped working).

For me it depends on the individual account and how I'm doing for cashflow, there is a small subset of regular savers (Co-op, Gatehouse, etc) in which the account term begins on the date you make your first deposit so I will typically open the account as soon as possible and then delay funding or keep letting it automatically close for failure to fund and immediately open new ones (as I've done with the Gatehouse 5.3% RS for a while), so that if the account becomes useful I can push the maturity dates on as long as possible and feel the full benefits of the account.

Others can be very quickly ``refreshed" so I often end up opening and funding immediately and then if they're still available ``refreshing" at the end of the month, a fairly recent example of this was when I renewed a Saffron Small Saver into itself for tax purposes, cashflow and interest maximisation twice in April (once around the 4th or 5th, the next on 30th).

For many accounts I do as you do though, including the PBS 8% regular saver. By quirk of cashflow I had ended up with exactly £201 in the Skipton Member Bonus Saver so I chose to open/fund the account now whilst retaining the option of possibly ``refreshing" the account at a later date.