Regular Savings Accounts: The Best Currently Available List!

WillPS

ernie-money said:

Apologies if this has already been asked - I can't find a way of searching just this thread!

I'm wondering if I have to keep my co-operative current account open once I've opened the regular saver, or if I can switch it out & still keep the regular saver open - does anyone know the answer to this please?

Further to @wiseonesomeofthetime 's thorough analysis above, I suspect (like Lloyds) nothing will happen to any existing savings accounts, but you'll be unable to open a new one when your current one matures (presuming they are still offering one).

s71hj

wiseonesomeofthetime said:

ernie-money said:

Apologies if this has already been asked - I can't find a way of searching just this thread!

I'm wondering if I have to keep my co-operative current account open once I've opened the regular saver, or if I can switch it out & still keep the regular saver open - does anyone know the answer to this please?

Co-operative Bank Regular Saver

Having just reviewed the available documentation for the "Exclusive" Regular Saver, I can see your uncertainty.

The product is clearly marketed as an exclusive product, and that, to open the account you must, "have a a Co-operative Bank Current Account, Current Account Plus, Privilege current account, Privilege Premier current account, Student current account, Cashminder account, Everyday Extra current account or any other account we specify in the future."

However, nowhere, in the documents I reviewed, is there a clear Term or Condition that said current account needs to remain open during the term of the product.

The information also clearly states that money may be withdrawn away to an account elsewhere, so again, providing that is accurate, it should not be a case of holding a savings account you cannot access due to a linked current account with same provider being required.

I guess after 12 months you couldn't open another  regular saver though without reopening a new current account

ernie-money

WillPS said:

ernie-money said:

Apologies if this has already been asked - I can't find a way of searching just this thread!

I'm wondering if I have to keep my co-operative current account open once I've opened the regular saver, or if I can switch it out & still keep the regular saver open - does anyone know the answer to this please?

Further to @wiseonesomeofthetime 's thorough analysis above, I suspect (like Lloyds) nothing will happen to any existing savings accounts, but you'll be unable to open a new one when your current one matures (presuming they are still offering one).

That's what I was hoping - thanks for input!

rob37uk

Hi special_Saver, the listing for the State Bank of India regular saver is now 5% rather than 6% for new openers but it is a fixed rate.

Also, has anyone else spotted the Loughborough five year retirement monthly saver for over 55's? The Loughborough Building Society - Five Year Retirement Monthly Saver  5.5% Var but with up to £550/month and can run for 5 years. Application form can be scanned and emailed to them with first deposit electronically once opened. 

mattojgb

rob37uk said:

Hi special_Saver, the listing for the State Bank of India regular saver is now 5% rather than 6% for new openers but it is a fixed rate.

Also, has anyone else spotted the Loughborough five year retirement monthly saver for over 55's? The Loughborough Building Society - Five Year Retirement Monthly Saver  5.5% Var but with up to £550/month and can run for 5 years. Application form can be scanned and emailed to them with first deposit electronically once opened. 

Must deposit minimum £55 per month and limited to two withdrawals per year plus closure.

JamesRobinson48

rob37uk said:

Hi special_Saver, the listing for the State Bank of India regular saver is now 5% rather than 6% for new openers but it is a fixed rate.

Also, has anyone else spotted the Loughborough five year retirement monthly saver for over 55's? The Loughborough Building Society - Five Year Retirement Monthly Saver  5.5% Var but with up to £550/month and can run for 5 years. Application form can be scanned and emailed to them with first deposit electronically once opened. 

A 5.5% RS from the Loughborough BS appears fair enough. But I'll give it a miss. In my personal experience they don't keep their RS rates competitive for long, so one certainly needs to stay alert. Just for example, one of their RS products, still available for new applicants, now pays only 2.5%. Also, note the absence of any online functionality, unlike nearly every other BS.

jameseonline

JamesRobinson48 said:

JamesRobinson48 said:

Yorkshire BS has today reopened its range of RS accounts to online applications, following the recent reduction in interest rates:

Loyalty Regular eSaver 5.65% variable

Regular eSaver 5.05% variable

First Home eSaver 4.90% variable

For the past few weeks the three above accounts were available only in their non-online versions, i.e. for branch/postal applications (posted by me here on 17 August).

Apologies if anyone beat me to it.


EDIT:  While the product is listed on YBS website as available, the application links don't appear to work!

EDIT 2: Now NLA again!

These three RS products from Yorkshire BS, including the Loyalty Regular eSaver (5.65% variable) now appear to be available online again after some glitches yesterday. As far as I can see the application links are now functioning.

Interesting, thing is do I want to go back to funding accounts under 6% after recently closing my 5.75% YBS, hmm🧐🤔.

Got that new YBS 8% launching Monday, then I'm hoping Nationwide 6.5% will still be a thing when my 8% ends on 21st.

Think I'm good for a while but will bare it in mind. 

Also need to focus on filling up my Santander Edge Saver.

WillPS

jameseonline said:

JamesRobinson48 said:

JamesRobinson48 said:

Yorkshire BS has today reopened its range of RS accounts to online applications, following the recent reduction in interest rates:

Loyalty Regular eSaver 5.65% variable

Regular eSaver 5.05% variable

First Home eSaver 4.90% variable

For the past few weeks the three above accounts were available only in their non-online versions, i.e. for branch/postal applications (posted by me here on 17 August).

Apologies if anyone beat me to it.


EDIT:  While the product is listed on YBS website as available, the application links don't appear to work!

EDIT 2: Now NLA again!

These three RS products from Yorkshire BS, including the Loyalty Regular eSaver (5.65% variable) now appear to be available online again after some glitches yesterday. As far as I can see the application links are now functioning.

Interesting, thing is do I want to go back to funding accounts under 6% after recently closing my 5.75% YBS, hmm🧐🤔.

Got that new YBS 8% launching Monday, then I'm hoping Nationwide 6.5% will still be a thing when my 8% ends on 21st.

Think I'm good for a while but will bare it in mind. 

Also need to focus on filling up my Santander Edge Saver.

I'm not sure I see the dilemma, just fill up whichever savers you hold which are offering you the most interest, and skip months or fund everything else minimally.

If you're not sure you need the account then just open it with £1 and ignore it unless and until it becomes worth filling up. There's no commitment to do anything with these YBS ones beyond the initial £1.

jameseonline

WillPS said:

jameseonline said:

JamesRobinson48 said:

JamesRobinson48 said:

Yorkshire BS has today reopened its range of RS accounts to online applications, following the recent reduction in interest rates:

Loyalty Regular eSaver 5.65% variable

Regular eSaver 5.05% variable

First Home eSaver 4.90% variable

For the past few weeks the three above accounts were available only in their non-online versions, i.e. for branch/postal applications (posted by me here on 17 August).

Apologies if anyone beat me to it.


EDIT:  While the product is listed on YBS website as available, the application links don't appear to work!

EDIT 2: Now NLA again!

These three RS products from Yorkshire BS, including the Loyalty Regular eSaver (5.65% variable) now appear to be available online again after some glitches yesterday. As far as I can see the application links are now functioning.

Interesting, thing is do I want to go back to funding accounts under 6% after recently closing my 5.75% YBS, hmm🧐🤔.

Got that new YBS 8% launching Monday, then I'm hoping Nationwide 6.5% will still be a thing when my 8% ends on 21st.

Think I'm good for a while but will bare it in mind. 

Also need to focus on filling up my Santander Edge Saver.

I'm not sure I see the dilemma, just fill up whichever savers you hold which are offering you the most interest, and skip months or fund everything else minimally.

If you're not sure you need the account then just open it with £1 and ignore it unless and until it becomes worth filling up. There's no commitment to do anything with these YBS ones beyond the initial £1.

There isn't a dilemma right now I was being sarcastic or something in terms of my own recent savings activity

I recently closed my Halifax, emptied my BOS.

Opened Virgin & Coventry.

Will be opening the YBS 8%.

I'll be filling up my Santander when my YBS 7% ends on 19th.

Truth is I may end up getting the 5.65% but it's not priority right now.

schiff

My First Direct RS matured today and I've set £300 to go in a new one and withdrawn the balance!
I've read that the procedure is odd compared with the norm but that hasn't been my experience this morning!

PS - withdrawal in my current account!