Regular Savings Accounts: The Best Currently Available List!

Bridlington1

ColdIron said:

ChewyyBacca said:

jim1999 said:

If there's one thing we're guaranteed, it's that having a multi-page debate about whether Regular Savers are worth the effort or not will be very productive.

For ppl who would like to have the multi page debate, join here
https://forums.moneysavingexpert.com/discussion/496410/are-regular-savers-still-worth-it/p1

Last post 2008, 16 years ago

The discussion is closed too so I think it would be rather difficult to discuss regular savers (or indeed anything) in that particular thread anyway.

jameseonline

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

jameseonline

where_are_we said:

jameseonline said:

Kazza242 said:

Principality Building Society are launching a new '6 Month Regular Saver', paying 8.00%.

Pay in £1 - £200 per month.  The maximum investment is £1,200.

The account does not permit withdrawals before maturity, though earlier access is available by closing the account.

It is available to open online or via branch.  The account will mature after 6 months.  

Once launched, the account should appear on the Principality BS website, here.

(The application page for the account is at the following link here but it's probably best to wait for the account to officially launch first.  I will edit this post later in the morning to include the link to the account details page).   

Interesting, might give it a go in a month or so if it's still available.

Got like 3 regular savings accounts with them already 🤣, 2 @ £50 a month and their standard at £250 a month, plus accounts elsewhere, need to wait before starting anything new.

How did you find out about the new account?

 You could maximise your Principality interest by missing one or two £250 payments (this is allowed) to standard RS (@5.5% ?) and instead put £200 into 6 month RS@8% and if you haven`t got £200 to put in this month you probably would be ok waiting to beginning of next month before opening RS@8% and first deposit of £200 when you have the money.

I actually need to free up money to fund other regulars that pay higher, so my options are empty my bos 5.5%, close my Halifax 5.5%, close my Principality 5.5%, got about a month before I need to do something though.

Growingold

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'

10_66

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.

polymaff

A PARADOX:

Folk spending time on here pointing out how people waste time for a puny return

surreysaver

polymaff said:

A PARADOX:

Folk spending time on here pointing out how people waste time for a puny return

Obviously pointing out how other people waste their time is more productive to them than earning free money 

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.