Regular Savings Accounts: The Best Currently Available List!

schiff

Same date for me. Though I'll be checking on the Saturday and the Sunday, I'm expecting it on the Monday. Once this is out of the way we'll be primed from experience for when 2 and 3 mature!

Special_Saver2

Hi Everybody,

Here is this weekend's update to this thread.

- Monmouthshire BS Regular Saver Bond issue 4 paying 1.5% replaced with issue 5 paying 1% fixed on up to £250 per month for 1 year

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

colsten

I am a tad disappointed with Monmouthshire. A regular saver matured today, and whilst they (manually?) added the interest at some point during today, "transferred" the balance out, and closed the account, the money has not arrived in my current account. I don't now expect it until Monday. My linked account has been used before for transfers, so it's not a matter of incorrect account details.

Wheres_My_Cashback

colsten said:

I am a tad disappointed with Monmouthshire. A regular saver matured today, and whilst they (manually?) added the interest at some point during today, "transferred" the balance out, and closed the account, the money has not arrived in my current account. I don't now expect it until Monday. My linked account has been used before for transfers, so it's not a matter of incorrect account details.

As is normal with MON accounts which mature over a weekend, annual interest is added and a debit entry is made on maturity date, however additional interest will be added to the account on Monday to cover the two additional days and the funds will be transferred at that point.

homestraight

Hi all

Simplistic question maybe but does anyone see a reason to reopen the 1% or less regular savers from Lloyd's and Halifax etc. I have one every year but now I have nsi 1.16% account so wasn't sure if the regular savers would serve any purpose? 
Is it something about having one open and ready just in case?  Is it that nsi and skipton etc are likely to drop rates significantly? 
Would appreciate your thoughts. 

Thanks

NottinghamKnight

homestraight said:

Hi all

Simplistic question maybe but does anyone see a reason to reopen the 1% or less regular savers from Lloyd's and Halifax etc. I have one every year but now I have nsi 1.16% account so wasn't sure if the regular savers would serve any purpose? 
Is it something about having one open and ready just in case?  Is it that nsi and skipton etc are likely to drop rates significantly? 
Would appreciate your thoughts. 

Thanks

Very few reasons that I can determine. In theory rates could drop further but recent issues by Skipton and Coventry have shown a slight increase so any reductions may well be minimal. Those providers aren't likely to restrict future offers to customers only

wiseonesomeofthetime

homestraight said:

Hi all

Simplistic question maybe but does anyone see a reason to reopen the 1% or less regular savers from Lloyd's and Halifax etc. I have one every year but now I have nsi 1.16% account so wasn't sure if the regular savers would serve any purpose? 
Is it something about having one open and ready just in case?  Is it that nsi and skipton etc are likely to drop rates significantly? 
Would appreciate your thoughts. 

Thanks

With the NS&I Direct Saver at 1% (for minimum rolling two months due to notice), I would probably use that for monthly new money over a regular saver at the same rate. Both variable rates of course.

The NS&I Income Bonds, at 1.16%, require minimum deposits of £500, so unless you have new monthly money of that value or greater, you cannot compare like for like.

Personally though, I am lucky enough to hold RS with First Direct, HSBC, and Coventry, with decent rates at the moment.

homestraight

wiseonesomeofthetime said:

homestraight said:

Hi all

Simplistic question maybe but does anyone see a reason to reopen the 1% or less regular savers from Lloyd's and Halifax etc. I have one every year but now I have nsi 1.16% account so wasn't sure if the regular savers would serve any purpose? 
Is it something about having one open and ready just in case?  Is it that nsi and skipton etc are likely to drop rates significantly? 
Would appreciate your thoughts. 

Thanks

With the NS&I Direct Saver at 1% (for minimum rolling two months due to notice), I would probably use that for monthly new money over a regular saver at the same rate. Both variable rates of course.

The NS&I Income Bonds, at 1.16%, require minimum deposits of £500, so unless you have new monthly money of that value or greater, you cannot compare like for like.

Personally though, I am lucky enough to hold RS with First Direct, HSBC, and Coventry, with decent rates at the moment.

Thank you

Maybe I shouldn't have mentioned a specific account. I guess vs any non reg saver account (depending on needs) higher than 1%.

It's going to be a nice change not managing my regular savers for a while. Other than the higher interest ones of course! 
Thanks both

polymaff

homestraight said:

Maybe I shouldn't have mentioned a specific account. I guess vs any non reg saver account (depending on needs) higher than 1%.

The return on both regular and non regular accounts with the same interest rate is the same.

homestraight

polymaff said:

homestraight said:

Maybe I shouldn't have mentioned a specific account. I guess vs any non reg saver account (depending on needs) higher than 1%.

The return on both regular and non regular accounts with the same interest rate is the same.

Yes. It is.