Regular Savings Accounts: The Best Currently Available List!

Kim_13

Special_Saver2 said:

Hi Everybody,

I have just updated the first page of this thread. 

- Online Regular Rainy Day Saver Account (Issue 2) added to the list on page 1 paying 5% variable on up to £300 per month with no maturity date

- Nottingham BS Branch Regular Saver removed as no longer available (and I have definitely removed it now!)

- Yorkshire BS £50 Regular eSaver and Yorkshire BS £50 Regular Saver removed as no longer available

I will do the next update within the next 2 weeks.

SS2

---

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

Re: Progressive’s Online Rainy Day Saver Account, I found this on the website: 

“After 12 months, this account will automatically roll into a new variable rate online instant access account, at the interest rate applicable at that time.”

So effectively a 12 month account although they don’t use the matures language that we see with other providers.

jameseonline

Just opened Issue 3 of Flex Regular Saver from Nationwide 😊

Nebulous2

jameseonline said:

Just opened Issue 3 of Flex Regular Saver from Nationwide 😊

Good shout. Looks like they were determined to stick to the 24 hours. 

I've opened mine as well. 

devansuk

Is there any financial penalties for closing a regular saver if you needed too? Would you get the full interest owed paid upto the date you close the account. I know most don't allow you to open a regular saver within 12 months.

wmb194

devansuk said:

Is there any financial penalties for closing a regular saver if you needed too? Would you get the full interest owed paid upto the date you close the account. I know most don't allow you to open a regular saver within 12 months.

It depends on the account's T&Cs. Some are instant access with no penalty, some have interest penalties whilst others don't allow access or early closure at all. Lloyds/BoS/Halifax have a, 'you can't open another one until the original 12 months is up' term but it isn't enforced. TSB also has it and it is enforced.

devansuk

wmb194 said:

devansuk said:

Is there any financial penalties for closing a regular saver if you needed too? Would you get the full interest owed paid upto the date you close the account. I know most don't allow you to open a regular saver within 12 months.

It depends on the account's T&Cs. Some are instant access with no penalty, some have interest penalties whilst others don't allow access or early closure at all. Lloyds/BoS/Halifax have a, 'you can't open another one until the original 12 months is up' term but it isn't enforced. TSB also has it and it is enforced.

Thanks do you know if lloyds and Halifax have any penalties for closing early? 

wmb194

devansuk said:

wmb194 said:

devansuk said:

Is there any financial penalties for closing a regular saver if you needed too? Would you get the full interest owed paid upto the date you close the account. I know most don't allow you to open a regular saver within 12 months.

It depends on the account's T&Cs. Some are instant access with no penalty, some have interest penalties whilst others don't allow access or early closure at all. Lloyds/BoS/Halifax have a, 'you can't open another one until the original 12 months is up' term but it isn't enforced. TSB also has it and it is enforced.

Thanks do you know if lloyds and Halifax have any penalties for closing early? 

What do the terms and conditions say?

https://www.lloydsbank.com/savings/monthly-saver.html

Descrabled

Halifax RS

Allows early closing in the t&c without any penalty and allows opening of new RS.

masonic

Issue with Halifax early closure is that it requires a branch visit IIRC.

friolento

masonic said:

Issue with Halifax early closure is that it requires a branch visit IIRC.

I have done it several times online.