Regular Savings Accounts: The Best Currently Available List!

Hattie627

PloughmansLunch said:

friolento said:

Impressed with Tipton. My RS matured yesterday, my maturity instructions were to close the account and pay the balance to my current account at Santander. Money was there when I logged in at 7am this morning

The account was closed and transferred to me in the middle of the night, but my slight annoyance is that there are no statements (unless something is due in the post?) and the account has now vanished from the app, which somewhat stuffs up my interest spreadsheet. I've deducted the 13 x £500 deposits and the £49-odd interest that I luckily noted from last year so with the remainder it should tally up with an extra £167.95 interest this financial year

My calculation is as follows:

Maturity amount paid today                    £6,717.84
Less 13X £500 payments                            217.84
Less £49.58 interest paid Dec 2023            168.26  (closing interest)

Kazza242

Virgin Money have launched a new account, called Regular Saver Exclusive, which pays 10.38% AER (fixed).

- Pay in up to £250 per month
- Maximum investment £3,000
- Unlimited withdrawals permitted
- The account can be opened online
- The account matures on 31/07/2025.
- The account is exclusively available to new and existing Virgin Money current account customers.  Your Virgin Money current account needs to have been opened on or after 04/12/2019.  Or, you originally opened your current account with Clydesdale Bank or Yorkshire Bank, such as a Signature Current Account.

Please see the following link here.

Speculator

Kazza242 said:

Virgin Money have launched a new 10.38% Regular Saver.  Further details to follow... shortly

was just about to post. Thought I was dreaming when I saw it in moneyfacts!

Every_Penny_Counts

Kazza242 said:

Virgin Money have launched a new 10.38% Regular Saver.  Further details to follow... shortly

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_1/

CuparLad

Presumably this is an interesting alternative to a switch bribe.

Every_Penny_Counts

Every_Penny_Counts said:

Kazza242 said:

Virgin Money have launched a new 10.38% Regular Saver.  Further details to follow... shortly

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_1/

Opened & funded

flaneurs_lobster

Every_Penny_Counts said:

Every_Penny_Counts said:

Kazza242 said:

Virgin Money have launched a new 10.38% Regular Saver.  Further details to follow... shortly

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_1/

Opened & funded

Opened and funded too. 

Is it available to open to someone who opens a current account today?

jameseonline

Am I reading this right?, you can only manage the Virgin account by the website not app?.

It's a great rate, been a long time since Virgin have done a regular saver (think it was when I started with Virgin and that was before Clydesdale took over)

figgyc

jameseonline said:

Am I reading this right?, you can only manage the Virgin account by the website not app?.

It's a great rate, been a long time since Virgin have done a regular saver (think it was when I started with Virgin and that was before Clydesdale took over)

You have to open it by website, but once opened it appears on the Virgin Money app for me and you can pay out of it, it appears to any payee you have set up.

flaneurs_lobster said:
Opened and funded too. 

Is it available to open to someone who opens a current account today?

There is no stated "current account must be opened before" date - as someone mentioned this seems to be a play that may be intended to attract customers, similar to FD's reg saver (and well most other big bank reg savers). And of course notably not similar to the strategy of their soon owner Nationwide and the other building societies.

Anyway I think this account is an absolute winner - the website says:

• As the maximum balance you can earn interest on increases each month by £250, if you don’t manage to save your full £250 in any month, you can pay more in the next or future months.
  
  and
  

• Yes. You can take money out at any time.

So it's as flexible as can be for a reg saver - even better than the 5.5% Nationwide Start to Save which I might now ditch - I was keeping it around because I liked the fact you could take out as much as you wanted and put it back in again within the same month, this is better than that. (Although I don't think I actually want to take any money out of this account given the high rate!)

jaypers

Virgin Money RS opened and funded before the rush and system problems start!! Thank you to the OP