Regular Savings Accounts: The Best Currently Available List!

trickydicky14

schiff said:

Bridlington1 said:

Monmouthshire BS Regular Saver - Issue 3 at 4.75% is set to go NLA and replaced by Issue 4 at 4.5% tomorrow.

Surely they are going to offer something decent when the Exclusive matures!
This may be clearing the decks.

We live in hope.

subjecttocontract

Most of them have probably given up, surrendered and admitted defeat at the hands of Virgin and their 10%+ account !

schiff

Monmouth have confused me! 
My Exclusive matures on 23/8, my RS2 on 30/8 - but I've had nothing from them about the Exclusive which unconsciouly made me assume that my letter today was about RS2 - but it isn't! Though Exclusive matures a week before RS2 the letter today is about RS2 and I've had nothing about the Exclusive!
It may be down to the GPO - again.

jameseonline

t1redmonkey said:

jameseonline said:

Like realistically who is going to ditch their 8% early (& get an additional payment in) to start a 6.5%, nah I'm letting the 8% finish then going 6.5% if still available.

There's some cases where it might make sense to do something like this.  E.g. If you have a strong feeling (or just know) that the lower rate is going to go NLA before your existing higher rate one matures, then it can make sense to close your existing one, sacrifice one month of a higher rate, in order to lock in 12 months of the slightly lower rate.

Do you think Nationwide would though?

ThePirates

Nationwide's 6.5% Regular is a variable rate saver though...

Kim_13

jameseonline said:

t1redmonkey said:

jameseonline said:

Like realistically who is going to ditch their 8% early (& get an additional payment in) to start a 6.5%, nah I'm letting the 8% finish then going 6.5% if still available.

There's some cases where it might make sense to do something like this.  E.g. If you have a strong feeling (or just know) that the lower rate is going to go NLA before your existing higher rate one matures, then it can make sense to close your existing one, sacrifice one month of a higher rate, in order to lock in 12 months of the slightly lower rate.

Do you think Nationwide would though?

Worth considering for a fixed at the slightly lower rate, but I wouldn’t do it for a variable. The Nationwide one is variable.

Bridlington1

jameseonline said:

t1redmonkey said:

jameseonline said:

Like realistically who is going to ditch their 8% early (& get an additional payment in) to start a 6.5%, nah I'm letting the 8% finish then going 6.5% if still available.

There's some cases where it might make sense to do something like this.  E.g. If you have a strong feeling (or just know) that the lower rate is going to go NLA before your existing higher rate one matures, then it can make sense to close your existing one, sacrifice one month of a higher rate, in order to lock in 12 months of the slightly lower rate.

Do you think Nationwide would though?

Did you think Santander's 7% Edge Saver would be pulled around a month before the 12 year anniversary of it being launched and replaced by a new issue at a lower rate? I refreshed mine not so long back just in case, which seems to have served me well so far, same goes for a few EA accounts I have.

One other consideration for Nationwide is that they could well do another Fairer Share payment next year, in which having a savings account with £100+ in it could help you get the payment. The 6.5% RS could be a good account to secure for this reason (2 years running I've got the £100 thanks to having Nationwide regular savers).

That being said I take a differing approach with regular savers and typically lean against refreshing regular savers early unless I would be emptying it anyway and wanted the interest paid this tax year, especially not to solely to secure a lower rate regular saver that is variable. Thus like yourself I plan to hold onto my Nationwide 8% RS until maturity.

It takes time to build up the balance of a regular saver, consequently regular savers are typically at their most profitable towards the end of their terms. If I were to refresh my Nationwide regular saver now I'd have to find a new home for over £2k, which would also have a cost in lost interest associated with it and Nationwide could well keep their 6.5% RS around until September or later and even if they do pull it, they may decide launch another regular saver to replace it that is still reasonably competitive (they might not though).

In the absence of a crystal ball I can't say with certainty what Nationwide will do with their 6.5% RS though.

EDIT:
Post wasn't as clear as it should've been. See post below for a clarification:
https://forums.moneysavingexpert.com/discussion/comment/80941954/#Comment_80941954

WillPS

Bridlington1 said:

In the absence of a crystal ball I can't say with certainty what Nationwide will do with their 6.5% RS though.

Nationwide have a community which they use to gain feedback on ideas for new accounts/features: https://www.nationwide.co.uk/about-us/have-your-say/connect-community/

Without giving too much away there has been stuff on there recently regarding savings in general.

jameseonline

WillPS said:

Bridlington1 said:

In the absence of a crystal ball I can't say with certainty what Nationwide will do with their 6.5% RS though.

Nationwide have a community which they use to gain feedback on ideas for new accounts/features: https://www.nationwide.co.uk/about-us/have-your-say/connect-community/

Without giving too much away there has been stuff on there recently regarding savings in general.

A few banks/building societies have communities/panels etc, I can't keep up with them though

WillPS

jameseonline said:

WillPS said:

Bridlington1 said:

In the absence of a crystal ball I can't say with certainty what Nationwide will do with their 6.5% RS though.

Nationwide have a community which they use to gain feedback on ideas for new accounts/features: https://www.nationwide.co.uk/about-us/have-your-say/connect-community/

Without giving too much away there has been stuff on there recently regarding savings in general.

A few banks/building societies have communities/panels etc, I can't keep up with them though

Perhaps you could just take hints from those that do, then