Regular Savings Accounts: The Best Currently Available List!

WillPS

Actually I'm not sure if the £3k limit applied across all MHBS accounts in one month or in total, the wording is a little unclear:

Customers may only have two Fixed Term Regular Saver accounts open at a time, either solely or jointly, with a combined maximum deposit of £250 per month not exceeding the maximum balance of £3,000.

The other uncompetitive account they offer has a monthly maximum of £3k, so I'm leaning towards this not being an overall limit. In which case I can't stop anything to stop the balance getting up to £3750 + interest (assuming £250 in each of the 15 calendar months between now and November 2025)

(with thanks in advance to whoever chirps in with "it's not unclear at all" or similar...)

CricketLady

Thank you for the heads up on Market Harborough 6%, it was a really simple process to open the account even though I don't think I've ever been to Market Harborough.

Bit confused about the bit that says “if more than one monthly payment is missed during a calendar year the account will be transferred to the easy access account and interest rate at that time…” - three monthly payments WILL be missed, September 2025, October 2025 and November 2025 (if month 1/12 is September and £250 is paid in on next 11 consecutive months, as the account maturity date is set to November 30th 2025).  If we’re not allowed to exceed £3000 so how does this work?

I can ask nearer the time, but anyone on here had experience of this before?

WillPS

CricketLady said:

Thank you for the heads up on Market Harborough 6%, it was a really simple process to open the account even though I don't think I've ever been to Market Harborough.

Bit confused about the bit that says “if more than one monthly payment is missed during a calendar year the account will be transferred to the easy access account and interest rate at that time…” - three monthly payments WILL be missed, September 2025, October 2025 and November 2025 (if month 1/12 is September and £250 is paid in on next 11 consecutive months, as the account maturity date is set to November 30th 2025).  If we’re not allowed to exceed £3000 so how does this work?

I can ask nearer the time, but anyone on here had experience of this before?

I think the £3000 is a monthly limit, not an overall one (see above).

If not, then I guess in order to stay within the rules you'd need to make your 12th payment £220 and then pay in £10 in months 13, 14 and 15. But I think this is further evidence that the £3k limit must be a monthly one.

Bigwheels1111

Just set mine up all went smoothly.

First payment made, can take 2 hours as goes via Barclays Bank.

I have set SO for 14 payments just in case, On the first of the month.

Will edit if things change.

WillPS

Aidanmc said:

WillPS said:

Market Harborough 6% (fixed), with credit to @35har1old above

https://mhbs.co.uk/my-membership/exclusive-products/fixed-term-regular-saver-1yr01/

• Save between £10 – £250 a month
• Annual interest paid on maturity
• You must make regular monthly deposits 
• Even with a penalty early withdrawals are not allowed (closure is not permitted either)
• Initial deposit must be received with 10 days of opening the account

Matures end of November 2025.

Seems only for UK Mainland residents

That's a bit of a weird stipulation, as it'd imply residents of the Isle of Wight and the Scottish islands couldn't apply (otherwise they'd say 'GB resident', surely?). Either way presumably NI residents are out of luck on this one unfortunately.

t1redmonkey

WillPS said:

Market Harborough 6% (fixed), with credit to @35har1old above

https://mhbs.co.uk/my-membership/exclusive-products/fixed-term-regular-saver-1yr01/

• Save between £10 – £250 a month
• Annual interest paid on maturity
• You must make regular monthly deposits 
• Even with a penalty early withdrawals are not allowed (closure is not permitted either)
• Initial deposit must be received with 10 days of opening the account

Matures end of November 2025.

Thanks, applied and opened relatively easily.

Aidanmc

WillPS said:

Aidanmc said:

WillPS said:

Market Harborough 6% (fixed), with credit to @35har1old above

https://mhbs.co.uk/my-membership/exclusive-products/fixed-term-regular-saver-1yr01/

• Save between £10 – £250 a month
• Annual interest paid on maturity
• You must make regular monthly deposits 
• Even with a penalty early withdrawals are not allowed (closure is not permitted either)
• Initial deposit must be received with 10 days of opening the account

Matures end of November 2025.

Seems only for UK Mainland residents

That's a bit of a weird stipulation, as it'd imply residents of the Isle of Wight and the Scottish islands couldn't apply (otherwise they'd say 'GB resident', surely?). Either way presumably NI residents are out of luck on this one unfortunately.

I thought it a bit strange also, just emailed them and had a very quick response confirming that they DO accept applications from N.Ireland

castle96

So assuming a FP today and 1 on 1/10 by SO, when to make the LAST SO pmt??

WillPS

Aidanmc said:

WillPS said:

Aidanmc said:

WillPS said:

Market Harborough 6% (fixed), with credit to @35har1old above

https://mhbs.co.uk/my-membership/exclusive-products/fixed-term-regular-saver-1yr01/

• Save between £10 – £250 a month
• Annual interest paid on maturity
• You must make regular monthly deposits 
• Even with a penalty early withdrawals are not allowed (closure is not permitted either)
• Initial deposit must be received with 10 days of opening the account

Matures end of November 2025.

Seems only for UK Mainland residents

That's a bit of a weird stipulation, as it'd imply residents of the Isle of Wight and the Scottish islands couldn't apply (otherwise they'd say 'GB resident', surely?). Either way presumably NI residents are out of luck on this one unfortunately.

I thought it a bit strange also, just emailed them and had a very quick response confirming that they DO accept applications from N.Ireland

Good news but puzzling what they mean by 'mainland' in that case then? Presumably they mean to exclude the Channel Islands, Isle of Manx, Gibraltar and the Falklands - but UK would already adequately cover that.

WillPS

castle96 said:

So assuming a FP today and 1 on 1/10 by SO, when to make the LAST SO pmt??

Satuday, 1st November 2025 - unless they're one of these providers who won't credit until next working day, in which case Monday, 3rd November 2025 (if you're fussed about 2 days of interest on £250).