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Regular Savings Accounts: The Best Currently Available List!

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  • If anyone is struggling to make their last payment into Beehive in July, that is if available funds are running low , then just be aware that a deposit of £250 for the final month will only attract £1.25 interest on that final payment.  
    .....and, in my case, as my fixed rate bonds that spit out interest mid-term may have eaten all my PSA already (yup - it's that's separate debate on whether it appears in this year's tax figures as it was added to a bond I cannot access until maturity!), it could earn me a quid, net of 20% tax on savings interest.

    Still paying £250 in on Monday. Want to see how Beehive handle the balance exceeding the maximium allowed account balance of £3,500 due to them adding a few quid interest on 31 July last year.
  • Gers
    Gers Posts: 13,148 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ctdctd said:
    On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

    At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

    Beehive:-
    Interesting - my balance at the moment is £3252.63 and £250 on 1st July would indeed take me over £3500.
    Just in case, I shall knock the final payment down to keep within the T&C's

    As with other organisations Beehive won't count the interest towards what you have paid in. Otherwise they wouldn't pay interest part way through your years cycle.
    Here's the T&Cs and here's a snippet from them:
     
    What would the estimated balance be after 12months based on a £3,000 deposit?
    Projected balance: £ 3,097.50
    This projection is for illustrative purposes only and is based on the following assumptions:
    • An account opening date of 27/06/2023 with a £250 deposit, followed by 11 monthly deposits of the same amount on the same day each month.
    • No change to the interest rate during the fixed rate period
    • Interest is paid annually and straight into your account.
    • No withdrawals

  • Wheres_My_Cashback
    Wheres_My_Cashback Posts: 4,394 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 27 June 2024 at 8:45AM
    Gers said:
    ctdctd said:
    On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

    At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

    Beehive:-
    Interesting - my balance at the moment is £3252.63 and £250 on 1st July would indeed take me over £3500.
    Just in case, I shall knock the final payment down to keep within the T&C's

    As with other organisations Beehive won't count the interest towards what you have paid in. Otherwise they wouldn't pay interest part way through your years cycle.
    Here's the T&Cs and here's a snippet from them:
     
    What would the estimated balance be after 12months based on a £3,000 deposit?
    Projected balance: £ 3,097.50
    This projection is for illustrative purposes only and is based on the following assumptions:
    • An account opening date of 27/06/2023 with a £250 deposit, followed by 11 monthly deposits of the same amount on the same day each month.
    • No change to the interest rate during the fixed rate period
    • Interest is paid annually and straight into your account.
    • No withdrawals

    I shall be leaving mine at £250 as have never known an organisation to include any paid interest within deposit limits of an RS.

    All it needs in the T&Cs is...excl. interest....to make it clear.
  • Rudyson
    Rudyson Posts: 347 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Looks like Virgin are thinking about doing a regular saver soon, but might be limited to customers who opened a current account before a certain date 

    Thank you. I was thinking about switching away, but will hang on for now
  • ForumUser7
    ForumUser7 Posts: 2,449 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Mansfield Regular e-Saver 30 day notice - what have people done with this account please? Now I can get better rates on the funds elsewhere and even with other accounts I have with Mansfield BS themselves, I'm considering closing it given the monthly funding requirement. Anyone closed theirs so far, or intentionally left theirs open for any particular reason please? Trying to make my mind up. Thanks
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • Mansfield Regular e-Saver 30 day notice - what have people done with this account please? Now I can get better rates on the funds elsewhere and even with other accounts I have with Mansfield BS themselves, I'm considering closing it given the monthly funding requirement. Anyone closed theirs so far, or intentionally left theirs open for any particular reason please? Trying to make my mind up. Thanks
    You can miss payments. The minimum £10 funding is only applicable if you make a payment i.e. if you pay, you must pay between £10 and £500 per month
  • ForumUser7
    ForumUser7 Posts: 2,449 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Mansfield Regular e-Saver 30 day notice - what have people done with this account please? Now I can get better rates on the funds elsewhere and even with other accounts I have with Mansfield BS themselves, I'm considering closing it given the monthly funding requirement. Anyone closed theirs so far, or intentionally left theirs open for any particular reason please? Trying to make my mind up. Thanks
    You can miss payments. The minimum £10 funding is only applicable if you make a payment i.e. if you pay, you must pay between £10 and £500 per month
    "A minimum of £10 per month must be deposited in order to open and operate the account."
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • Looks like Virgin are thinking about doing a regular saver soon, but might be limited to customers who opened a current account before a certain date 
    Where did you get this information  please?
  • pokemaster
    pokemaster Posts: 270 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    They sent a survey out for people to look over wording and display of the pages when they release it.
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