Regular Savings Accounts: The Best Currently Available List!

jameseonline

friolento said:

castle96 said:

Santander Edge Saver is now 4.41 from 17/8 (up to 4k)

This is an easy access account, not a Regular Saver account.

That aside, where did you get this information from?

Think the convo stems from me trying to help out Malt otherwise no idea

[Deleted User]

jameseonline said:

JamesRobinson48 said:

[Deleted User] said:

MonBs

Hello.
I just managed to open the Regular saving  (issue 3 ) 4.75% a week or so before the newer issue was live.

But now they have this Exclusive  RS do you think it worth it to ditch and switch to this one.
BTW  I'm only funded it to 150 per month.

Only you know whether the additional 1.25% p.a. interest is worth the hassle of opening one account and closing another, if you will be saving only small £ amounts.  Bear in mind that the 4.75% RS permits withdrawals during the term, whereas the 6% RS does not, so the account you have already is far more flexible (possibly that's one reason why you opened it in the first place). Also, if you do decide to switch, be sure to open and fund the new RS before closing the old one. Otherwise both your BS membership and online ID will probably expire and you would be back at square one, ineligible for the 6% RS.

I can't see a 4.75% on the site now so possibly an earlier issue unless it's the same as the 4.5% I'm seeing?

Either way does the account malt described have a minimum operating balance?, in which case in theory could move the majority of money out of that account and into another.

Yes it's the old version (issue3) of the newer 4.5% version.
The regular saver 4.74% as a minimum  of £25 per month.

FishInGlass

Bridlington1 said:

Hattie627 said:

Those of us who have applied today for the new Mon BS Exclusive RS and are awaiting the signature form and account details:- I think we will be lucky to get the first payment in by the end of the month but we shall see.

As someone pointed out upthread, Mon BS account-opening procedures are not the quickest, so it is best to be aware of this and be patient. They get there in the end.

Although the 6% rate is variable, I reckon that it will be maintained for the full year unless there is more than one base rate drop between now and then. So definitely worth having this account, IMHO.

Possibly, but if I'm not mistaken last year MBS launched their 7% and 8% regular savers on 23/8/23 yet many, myself included, were able to get payments in by the end of August (just).

We should be receiving online signatory forms in the post within the next week or so, these should contain the regular saver account number, which you can then use to fund the account using the sort code/account numbers in any MBS passbook.

Moreover I'd expect that this time round they may not be as busy as last year given that they've imposed a hard cut off date for eligibility and they're only offering the one regular saver (with a reduced rate from last year, albeit with a higher maximum monthly deposit).

I'd agree on your point about being patient with MBS though, I'd imagine they'll still be rather busy at the moment and pestering them will only cause delays. I've applied for mine so I'm just going to let them get on with it till I hear more from them.

You are correct about the launch date last year. I opened both in store that day after double checking with the staff that as an existing member I was entitled have both. This year due to time constraints I opened the new one online last night.

Kazza242

The Suffolk Building Society 'Smart Save Monthly' and 'Holiday Save' regular saver account interest rates will be reducing from 5.15% to 4.90% w.e.f. 2nd September 2024.  

Both accounts are NLA. 

Source: Letter received today from Suffolk Building Society.

Nick_C

Have I understood this correctly? 

The Monmouthshire 6% Exclusive RS is only available to existing members, but they still want a new signature form in every case? 

Bridlington1

Not a top one but may be of interest to some:

State Bank of India have now launched a Regular Saver Account at 5% fixed (branch opening only, but can be managed online).
Account can be opened with £20 and allows you to deposit up to £1k/mth.
Pays a lower rate of 1.95% in months where withdrawals are made (reverts to 5% in later months)

chris_the_bee

Nick_C said:

Have I understood this correctly? 

The Monmouthshire 6% Exclusive RS is only available to existing members, but they still want a new signature form in every case? 

A bit old fashioned, but unfortunately, yes. They do however provide a pre-paid envelope.

happybagger

Kazza242 said:

The Suffolk Building Society 'Smart Save Monthly' and 'Holiday Save' regular saver account interest rates will be reducing from 5.15% to 4.90% w.e.f. 2nd September 2024.  

Both accounts are NLA. 

Source: Letter received today from Suffolk Building Society.

Very cheeky since they didn't increase them when BoE rate went from 5 to 5.25%, but cut the full 0.25% off when the rate reversed to where it was.

jameseonline

Damn you YBS:

Hattie627

Yorkshire BS Loyalty Regular e Saver

Only £3 less on £3000 held in the account for 12 months. In reality, less than this.

Still, makes you wonder how such a mistake can be made. Did the junior person tasked with preparing the table misread the handwritten scrawl on the back of the fag packet passed down from the senior management?