Regular Savings Accounts: The Best Currently Available List!

Kim_13

badger09 said:

OneUser1 said:

New 6% Regular Saver at Monmouthshire. On website. £500 maximum per month, existing members and the rate variable. 

Thanks for the heads up. 

NB rate is variable & no withdrawals allowed. 

https://www.monbs.com/savings/exclusive-regular-saver-issue-2/

No withdrawals and a variable rate decides it - that combination is a big no no for me. £50 is also a high minimum deposit for Monmouthshire, the account it is replacing could be secured with £1, the Coronation RS with £3 and the Christmas RS with £10 IIRC.

jim1999

Kim_13 said:

badger09 said:

OneUser1 said:

New 6% Regular Saver at Monmouthshire. On website. £500 maximum per month, existing members and the rate variable. 

Thanks for the heads up. 

NB rate is variable & no withdrawals allowed. 

https://www.monbs.com/savings/exclusive-regular-saver-issue-2/

No withdrawals and a variable rate decides it - that combination is a big no no for me. £50 is also a high minimum deposit for Monmouthshire, the account it is replacing could be secured with £1, the Coronation RS with £3 and the Christmas RS with £10 IIRC.

The General regular saver terms do state "Closure of your Regular Saver account is allowed at any time without notice or penalty"

So I guess that would potentially be one approach, though I'd want to double-check with them.  Personally, I still think it's probably not worth the hassle but I'll think about it.

Hattie627

Mon BS Exclusive RS (2)

At least they have made it clear this time that there is a maximum balance (£6K). Note has been taken of recent issues.

happybagger

drphila said:

Bridlington1 said:

drphila said:

Furness BS Christmas Saver is staying at 6% as far as I can see.

Though AFAIK they haven't announced any rate decreases yet so are still in the ``yet to declare" category, along with Leeds, Nationwide, Bath, Cambridge and Penrith among others.

Furness rate was confirmed 7 August so hopefully no cut

And Penrith made changes to their account rates on 13 August but did not reduce the RS accounts (now closed issues)

https://www.penrithbs.co.uk/wp-content/uploads/2024/08/PBS-V10.90_InterestRates-Leaflet-13.08.24.pdf

Probably still worth looking in on 2nd September just in case.

where_are_we

New Monmouth RS @6% - in their Savings Terms and conditions - "If we intend to lower the interest rate, we’ll let you know at least 30 days before the change happens, using letter, email, or text. If you’re not happy about the change, you
can close your account or move the money to another one. If you do this within the 30 days, you won’t have to pay any charges or lose any interest. We’ll assume you accept the change unless you tell us otherwise"

I think it is worth the hassle if you have exhausted matching or higher paying interest accounts especially with the present climate of reducing rates.

The above T&C`s mean you can withdraw your money if they reduce the rate by closing the account with no loss of interest. I am happy to get 6% on £500/month for knowing this. It`s a new account and I would be hopeful that they would not reduce the rate any time soon.

It also keeps your Monmouthshire BS membership continuing in case they offer another member exclusive RS in the future.

where_are_we

MBS ERS @ 6% - bit of a pain applying - no prepopulated stuff.

Should I have logged on first and the applied to avoid this?

flaneurs_lobster

MonBS Exclusive RS (2)

With 2 MonBS RS maturing on 31/8 and running out of attractive places to park the funds I recon £500 is heading into this account. 

£50 (or £250) today? Will it still be available at m/end?

Be good to confirm that early withdrawal by closure was an option.

10_66

where_are_we said:

MBS ERS @ 6% - bit of a pain applying - no prepopulated stuff.

Should I have logged on first and the applied to avoid this?

They don't appear to have a facility to do this whilst logged on.

flaneurs_lobster

MonBS Exclusive RS (2)

10_66 said:

where_are_we said:

MBS ERS @ 6% - bit of a pain applying - no prepopulated stuff.

Should I have logged on first and the applied to avoid this?

They don't appear to have a facility to do this whilst logged on.

Agreed, logging in only gives access to existing accounts - no facility to apply for a new one.

[and I bet there's another passbook on it's way]

WillPS

MonBS

I notice they've added a hard cut off on membership (of today), presumably to stop people doing as we did last year and applying for an easy access then immediately applying for the 'exclusive' product.

This'll be 'minimum deposit and see how it goes later in the year' jobby for us. Mindful that some MonBS products have been very shortlived otherwise we'd probably have left it until next month when we have a tranche of accounts hitting maturity.