Regular Savings Accounts: The Best Currently Available List!

Digital_Payback

Progressive BS Regular Rainy Day Saver seems still available. 

https://theprogressive.com/savings/online-savings/online-regular-rainy-day-saver-account?gad_source=1&gbraid=0AAAAAoQYoiK_Up1D1oLGlTFtr0D1ydxYH&gclid=CjwKCAjw7s20BhBFEiwABVIMrTDgjLOuBCkHF71usGA6BvUPhaZwRu7KXPVfWgy1fO_PD4cJiklESxoCmNsQAvD_BwE

ForumUser7

Digital_Payback said:

Progressive BS Regular Rainy Day Saver seems still available. 

https://theprogressive.com/savings/online-savings/online-regular-rainy-day-saver-account?gad_source=1&gbraid=0AAAAAoQYoiK_Up1D1oLGlTFtr0D1ydxYH&gclid=CjwKCAjw7s20BhBFEiwABVIMrTDgjLOuBCkHF71usGA6BvUPhaZwRu7KXPVfWgy1fO_PD4cJiklESxoCmNsQAvD_BwE

So it is - thanks for flagging. They have a shocking web interface for mobiles. Looks like you have to scroll sideways on the accounts area to see each type they offer, but there is no indication of this. Not even dots to show the number left to scroll etc. Screenshot attached, looked like only the online instant access saver account was available. Immediately clear on a computer that there are lots available once I opened that link.

Bridlington1

Not a top rate but may be worth noting:
H&R BS Regular Saver 30 Day Notice at 5.25% has now gone NLA, replaced by Issue 2 at 5.1%.

Issue 1 seems to have remained at 5.25% for now (haven't got the account so don't know if they will be reducing the rate on it at present)

Unlike Issue 1, the new issue 2 has a minimum balance of £1 and no minimum pay in.

Hattie627

Bridlington1 said:

Not a top rate but may be worth noting:
H&R BS Regular Saver 30 Day Notice at 5.25% has now gone NLA, replaced by Issue 2 at 5.1%.

Issue 1 seems to have remained at 5.25% for now (haven't got the account so don't know if they will be reducing the rate on it at present)

Unlike Issue 1, the new issue 2 has a minimum balance of £1 and no minimum pay in.

The maximum monthly payment for Issue 2 is £1000, as against £500 for Issue 1.

I have Issue 1 and have not been notified of a reduction in the interest rate so far.

Kim_13

Most(?) Issue 1 accounts only have a few months to run (2 year product launched in September 2022), so perhaps not worth them incurring the loss of customer goodwill for the savings that they would make after the notice period they have to give anyway. It was competitive only for a few months, so I can’t imagine a great deal is held in them at this point (the average customer won’t have exhausted better paying options elsewhere.)

They’ve already done one reduction without a corresponding move in the base rate during the account term. I doubt moves in anticipation go down well with savers generally. Stopping one issue and launching another may be a way to avoid this, as it means everyone gets the terms they signed up to.

happybagger

Kim_13 said:

Most(?) Issue 1 accounts only have a few months to run (2 year product launched in September 2022), 

But they could be opened up to last weekend, and those will have two years left to run, so I wouldn't say most have only a few months left.

Kim_13

happybagger said:

Kim_13 said:

Most(?) Issue 1 accounts only have a few months to run (2 year product launched in September 2022), 

But they could be opened up to last weekend, and those will have two years left to run, so I wouldn't say most have only a few months left.

Of course, but given the window in which the account was a top payer, it’s more likely that the majority of accounts are closer to maturity than their start date. For those having to transact by post, opening the account hasn’t made sense for some time. 

PowerSavingMode

Kim_13 said:

...For those having to transact by post, opening the account hasn’t made sense for some time. 

This is why I have been paying in the minimum monthly payment to the Hinckley & Rugby BS Regular Saver 30 Day Notice — it is such a faff to eventually get your money out (single withdrawal, or closure); it is for me, at least.

allegro120

DJDools said:

Kim_13 said:

...For those having to transact by post, opening the account hasn’t made sense for some time. 

This is why I have been paying in the minimum monthly payment to the Hinckley & Rugby BS Regular Saver 30 Day Notice — it is such a faff to eventually get your money out (single withdrawal, or closure); it is for me, at least.

I remember closing this account when they reduced the rate (they waived the notice).  I had to write and post a letter asking to close the account and received cheque by post, took about a week until money appeared in my bank account.  Very outdated practice.

PowerSavingMode

allegro120 said:

DJDools said:

Kim_13 said:

...For those having to transact by post, opening the account hasn’t made sense for some time. 

This is why I have been paying in the minimum monthly payment to the Hinckley & Rugby BS Regular Saver 30 Day Notice — it is such a faff to eventually get your money out (single withdrawal, or closure); it is for me, at least.

I remember closing this account when they reduced the rate (they waived the notice).  I had to write and post a letter asking to close the account and received cheque by post, took about a week until money appeared in my bank account.  Very outdated practice.

Yes, that's what I mean...very archaic and slow. I had to send a message giving the required 30 days' notice to withdraw, and then I had to physically post a request to Hinckley & Rugby to withdraw X amount, and after a bit of toing and froing and passbooks going hither and dither, a cheque finally arrived. Far too stretched out.