Regular Savings Accounts: The Best Currently Available List!

schiff

I've pretty much decided not to put any more money into the two latest Virgin RSs I have, nor to open the next one if it's 1%, nor to renew the RSs I have with TSB, Bank of Scot, Halifax, Lloyds Monthly. All because of the 1%. I'm fortunate to have Marcus at 1.05% (for now) and Skipton at 1.2% (for a year) with no limit on either. Makes life a bit easier.

wiseonesomeofthetime

"and Skipton at 1.2% (for a year) "

There is no guarantee that the rate will remain at 1.20% for a year. Only guarantee is a minimum interest rate of 0.50%, which is the bonus for that period.

The rest is variable.

surreysaver

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.

I, too, had two Monmouthshire Regular Savers mature on Friday and am waiting for the money to turn up in my nominated account! 

schiff

wiseonesomeofthetime said

There is no guarantee that the rate will remain at 1.20% for a year. Only guarantee is a minimum interest rate of 0.50%, which is the bonus for that period.
The rest is variable.

That's true. I'll deal with that as and if it happens.

garfield33

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 announcement of the rate drop for NS&I products, the 1% regular savers are looking better again!
https://www.moneysavingexpert.com/news/2020/09/premium-bond-prize-rate-to-be-slashed-to-1-/ 

where_are_we

surreysaver said:

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.

I, too, had two Monmouthshire Regular Savers mature on Friday and am waiting for the money to turn up in my nominated account! 

Maturing regular savers generally are not good at releasing your money quickly eg First Direct Regular Saver recently matured took 3 days to move to 1st current account. It is rather irritating but a very small amount of interest is foregone.

MDMD

garfield33 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 announcement of the rate drop for NS&I products, the 1% regular savers are looking better again!
https://www.moneysavingexpert.com/news/2020/09/premium-bond-prize-rate-to-be-slashed-to-1-/ 

Although I’m struggling find a reason to bother with a return of £16 per year on £3k or so, compared with just leaving it at 0% somewhere.

castle96

Good job I popped £1 in the Skipton (0.7% var + 0.5% bonus til 9/21). Goodbye NSI on 24/11

JamesRobinson48

garfield33 said:

With the announcement of the rate drop for NS&I products, the 1% regular savers are looking better again!
https://www.moneysavingexpert.com/news/2020/09/premium-bond-prize-rate-to-be-slashed-to-1-/ 

Very true. However frankly right now, if I had a modest lump sum handy (which of course not everyone has), I'd as soon put it straight into a one year fixed rate bond at 1.00% or higher with, say, Principality BS or Cambridge BS as bother with dripping £250 per month into a 1.00% fixed rate RS with a similar institution. The former is less work and, with gilts out to 5 years yielding negative 0.15% p.a. (approx.) today, such bond deals might soon get pulled. 

1882

It appears that Virgin Money have withdrawn regular e saver 18 which paid 1% guaranteed. No doubt they'll start no. 19 in a day or 2 paying a more paltry rate in light of NS&I slashing their rates.