Regular Savings Accounts: The Best Currently Available List!

surreysaver

WillPS said:

jameseonline said:

Just noticed
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Now has info showing how much you'll earn on regular savers 

The Natwest/RBS number is wrong, it states £59.93/year when 'maxed out'. That's the figure you'll get saving the just the deposit limit for 1 year, the 'maxed out' amount is 6.17% on £5k (~£308).

The maxed out amount will be 6%, as after you've got £5k in it, it'll no longer be compounding, so the AER is irrelevant 

Nick_C

The maxed out amount could be more than £308 if you were neglecting to withdraw the interest every month.  You could, if you were foolish or negligent, have a lot more than £5k in the account.

WillPS

surreysaver said:

WillPS said:

jameseonline said:

Just noticed
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Now has info showing how much you'll earn on regular savers 

The Natwest/RBS number is wrong, it states £59.93/year when 'maxed out'. That's the figure you'll get saving the just the deposit limit for 1 year, the 'maxed out' amount is 6.17% on £5k (~£308).

The maxed out amount will be 6%, as after you've got £5k in it, it'll no longer be compounding, so the AER is irrelevant 

Fair cop, although it does still earn interest at a lower rate, so it'll be somewhere between 6% and 6.17%.

gt94sss2

jameseonline said:

Just noticed
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Now has info showing how much you'll earn on regular savers 

It lists 3 different regular savers - all paying 7% interest, based on £250/month and manages to come up with 3 different interest figures!

[Deleted User]

The issue isn't the compounding, its people who think they get 6% or 8% on the full amount saved from day one.

MisterMotivated

gt94sss2 said:

jameseonline said:

Just noticed
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Now has info showing how much you'll earn on regular savers 

It lists 3 different regular savers - all paying 7% interest, based on £250/month and manages to come up with 3 different interest figures!

You beat me to it, I was just about to post the same thing, haha.

jaypers

Got this flyer through the door and although restricted to certain postcodes, you don’t need to go into a branch. RS at 6.5%. This account is only available to UK residents aged 18 or above, living in the following postcodes: BL, CH, CW, M, OL, SK, WA or WN. https://www.thevernon.co.uk/savings/regular-saver-accounts/online-regular-saver/

Kim_13

gt94sss2 said:

jameseonline said:

Just noticed
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Now has info showing how much you'll earn on regular savers 

It lists 3 different regular savers - all paying 7% interest, based on £250/month and manages to come up with 3 different interest figures!

I had wondered if the figures would have assumed max funding at the first available date, and for those that are a calendar months account and aren't HSBC that don't allow the standing order date to be amended, the figure would therefore be higher. But oddly it lists HSBC as higher than Skipton when it is Skipton where you can get the second payment in sooner.

PowerSavingMode

Kim_13 said:

Melton passbook just arrived, complete with an elusive prepaid envelope. They sent it with a survey so I will fill out the survey online and retain the envelope for future use.

Same here, but without said survey, even though the letter invited me to complete missing survey and send it in the envelope provided!

liamcov

Bridlington1 said:

Just a reminder the Principality BS interest rate reductions come into effect tomorrow. Of note:

Account	Old rate	New rate
Principality BS 1 Year Triple Access Regular Saver	6.00%	5.75%
Principality BS Dylan Young Saver	4.00%	3.75%
Principality BS First Home Steps Account	5.25%	5.00%
Principality BS First Home Steps Account Issue 2	5.25%	5.00%
Principality BS First Home Steps Account Issue 3	5.25%	5.00%
Principality BS First Home Steps Account Issue 4	5.25%	5.00%
Principality BS First Home Steps Online	5.25%	5.00%
Principality BS First Home Steps Online Issue 2	5.25%	5.00%
Principality BS First Home Steps Online Issue 3	5.25%	5.00%
Principality BS Gift Saver	4.60%	4.35%
Principality BS Learner Earner (Issue 1 & 2)	5.75%	5.50%
Principality BS Learner Earner Issue 3	4.70%	4.45%
Principality BS NHS Thank You Online Saver	4.20%	3.95%
Principality BS NHS Thank You Saver	4.20%	3.95%
Principality BS School Staff Saver	4.45%	4.20%
Principality BS Thank You Online Saver (Issues 1 to 4)	4.45%	4.20%
Principality BS Thank You Saver (Issues 1 to 4)	4.45%	4.20%

Is this for existing accounts too?