Regular Savings Accounts: The Best Currently Available List!

PloughmansLunch

flaneurs_lobster said:

simonsmithsays said:

Beehive UK savings week RS 2023/24

Should mature overnight tonight and be available tomorrow even though the maturity date (on mine at least) is showing as 30/9/24.

Notts BS always tend to do this in my experience.

Thanks for this, I've queried this with BBS and this has saved me waiting on their reply. Any knowledge of how quickly a request to move funds to nominated a/c from the EA might take to be actioned?

My previous Beehive matured 31st July. I can't remember if one of the maturity options was to close and pay externally, but I chose easy access and the withdrawal (minus a tenner to stay a member) plopped into my current account on 2nd Aug. 

jameseonline

Seems I have the MHBS Regular Saver so just sent £250, going to try sending another £250 tomorrow, hopefully that will work ok.

allegro120

PloughmansLunch said:

flaneurs_lobster said:

simonsmithsays said:

Beehive UK savings week RS 2023/24

Should mature overnight tonight and be available tomorrow even though the maturity date (on mine at least) is showing as 30/9/24.

Notts BS always tend to do this in my experience.

Thanks for this, I've queried this with BBS and this has saved me waiting on their reply. Any knowledge of how quickly a request to move funds to nominated a/c from the EA might take to be actioned?

My previous Beehive matured 31st July. I can't remember if one of the maturity options was to close and pay externally, but I chose easy access and the withdrawal (minus a tenner to stay a member) plopped into my current account on 2nd Aug. 

I chose to close and pay externally,  arrived on 2nd Aug. 

allegro120

gt94sss2 said:

simonsmithsays said:

Beehive UK savings week RS 2023/24

Should mature overnight tonight and be available tomorrow even though the maturity date (on mine at least) is showing as 30/9/24.

They all share the same maturity date. Think I might keep £10 in to remain a member given the rumours that Nottingham BS could be absorbing their Beehive brand

Not the rumours, I was told in branch that it is going to be absorbed.  If you don't have any other accounts with Beehive or Nottingham BS and far away from branches it is better to keep membership in case of some good offers in future.

surreysaver

allegro120 said:

gt94sss2 said:

simonsmithsays said:

Beehive UK savings week RS 2023/24

Should mature overnight tonight and be available tomorrow even though the maturity date (on mine at least) is showing as 30/9/24.

They all share the same maturity date. Think I might keep £10 in to remain a member given the rumours that Nottingham BS could be absorbing their Beehive brand

Not the rumours, I was told in branch that it is going to be absorbed.  If you don't have any other accounts with Beehive or Nottingham BS and far away from branches it is better to keep membership in case of some good offers in future.

If it's not in writing, it's a rumour. Rumours spread around workplaces, before getting passed on to the public 

allegro120

jameseonline said:

Seems I have the MHBS Regular Saver so just sent £250, going to try sending another £250 tomorrow, hopefully that will work ok.

Should be ok, my deposits were showing within few hours.  Don't know about evenings though.  I would check if it arrived and dated 30th Sept before depositing the next allowance.  If you're not online yet you can call them, I called MHBS three times, didn't have to wait long to be connected and every time the advisor was very helpful.

WindfallWendy

These are super sneeky sneekies, you guys! I love it! There was me thinking must be the only one daft enough to have spreadsheets and reminders of which specific day things need to happen to maximise the returns!! 

Just to be clear, it's not possible (I assume?) to have more than one regular saver with any individual bank. Is that right? I've just opened a First Direct with £300/month and 7% attached to it, and also have my NW Regular saver for £200/month. My Halifax one matures now as well, so will see if they are worth sticking with, but I imagine not and my Kroo current account gives me 4% without the faff.

friolento

WindfallWendy said:

 

Just to be clear, it's not possible (I assume?) to have more than one regular saver with any individual bank. Is that right? I've just opened a First Direct with £300/month and 7% attached to it, and also have my NW Regular saver for £200/month. My Halifax one matures now as well, so will see if they are worth sticking with, but I imagine not and my Kroo current account gives me 4% without the faff.

Some limit you to 1 RS, some to 1 RS per issue, some allow more than one of the same issue despite their T&Cs saying something different.

Out of principle, I would always choose a fixed 5.5% RS if the best easy access rate I can get is variable 4%, and I had already got all the 5.5%+ RS accounts.

Bridlington1

WindfallWendy said:

These are super sneeky sneekies, you guys! I love it! There was me thinking must be the only one daft enough to have spreadsheets and reminders of which specific day things need to happen to maximise the returns!! 

I've over 100 savings accounts including just over 50 regular savers, a spreadsheet makes the admin far easier.

WindfallWendy said:

Just to be clear, it's not possible (I assume?) to have more than one regular saver with any individual bank. Is that right? 

Not always true, in most cases you can only have one of each type of regular saver but many banks/building societies offer multiple different regular savers, e.g. Lloyds have a Monthly Saver at 5.25% and a Club Lloyds Regular Saver at 6.25%, many have both accounts. Others are forever bringing out new regular savers that you can hold alongside your existing accounts, I currently have 8 different regular savers with Principality BS for example.

WindfallWendy said:

I've just opened a First Direct with £300/month and 7% attached to it, and also have my NW Regular saver for £200/month. My Halifax one matures now as well, so will see if they are worth sticking with, but I imagine not and my Kroo current account gives me 4% without the faff.

Putting money in a non-ISA account paying 5.5% will beat a non-ISA account paying 4%, so definitely prioritise funding Halifax RS over Kroo.

That being said there are many EA accounts that pay more than Kroo. See:
https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false&product-favorites-first=false

cricidmuslibale

WindfallWendy said:

These are super sneeky sneekies, you guys! I love it! There was me thinking must be the only one daft enough to have spreadsheets and reminders of which specific day things need to happen to maximise the returns!! 

Just to be clear, it's not possible (I assume?) to have more than one regular saver with any individual bank. Is that right? I've just opened a First Direct with £300/month and 7% attached to it, and also have my NW Regular saver for £200/month. My Halifax one matures now as well, so will see if they are worth sticking with, but I imagine not and my Kroo current account gives me 4% without the faff.

@WindfallWendy Generally speaking, the big banks like First Direct, HSBC, NatWest, RBS, Lloyds, BOS, Halifax will only allow you to have one open & active regular saver with them, although you can currently have two with Lloyds at the moment if you hold a Club Lloyds current account. Also, to open the one regular saver you are usually permitted to have at any one time, you first need to hold a current account with the bank in question; this also applies to Nationwide Building Society at the moment (although previously they had a Start to Save regular savings account open to non current account holders as well).

With other building societies though such as Coventry, Yorkshire Building Society, Principality and quite a few others besides, there is not only no requirement to hold a current account before you can open a regular saver but in fact the vast majority of building societies do not currently offer current accounts at all, and it is often permissible to have more than one regular savings account open with them at the same time, which can turn out to be very worthwhile in gaining considerably more interest on your savings over time! Thus quite a few of us on here will have at least 10 and perhaps as many as 50+ regular savings accounts open and available at present in order to save what we can each currently afford to save into them on a regular, monthly basis!

As things stand right now, all my currently active regular savers pay between 5.5% annual and 10% quarterly interest (Virgin Money's NLA Reg Saver) but there is no reason why you (or anyone else) shouldn't feel free to open regular savers paying below 5.5% as well, especially if you've maxed out all the higher paying options. Imho, if any regular saver is currently paying more interest than what you can obtain with the highest paying, easy access savings account that is available to you, then it is worthwhile funding that regular saver on a regular basis, but beware that some regular savers, which have variable rather than fixed interest rates, can be very good value initially but the interest rate may subsequently drop below the interest rates of the highest paying, easy access savings accounts available at that time, in which case you will then be better off if you save your money elsewhere!