Regular Savings Accounts: The Best Currently Available List!

Stargunner

Bridlington1 said:

Stargunner said:

allegro120 said:

Marcoos said:

YBS Christmas Regular eSaver 2024

Got the email about maturity on 31/10/24. Seems funds will be transfered to an Easy Access Saver Issue 2 (quoted @ 4.60%) on 01/11/24. Which will do me fine, can shift it around after that.

Based on my previous experience the money will arrive to your bank account on the working day after withdrawal.  So in this case it will be Monday 4th November.  I'm planning to close the account on 31st October so I can get my funds on Friday 1st November instead.

The email says to close the account you have to either pop in to a branch or write to them, so are you planning to go to a branch?

I have an option to close mine in online banking (select the account, go to account options, close my account).

I only looked in the app and it says go in to branch, but after checking online banking I can see that it can be done in there. I have just closed mine as it will only be a loss of pennies in interest,  rather than letting it run for a couple more weeks, as I will transfer the funds to my Cahoot EA account and then they will be used to towards funding next months regular savers.

allegro120

Stargunner said:

allegro120 said:

Marcoos said:

YBS Christmas Regular eSaver 2024

Got the email about maturity on 31/10/24. Seems funds will be transfered to an Easy Access Saver Issue 2 (quoted @ 4.60%) on 01/11/24. Which will do me fine, can shift it around after that.

Based on my previous experience the money will arrive to your bank account on the working day after withdrawal.  So in this case it will be Monday 4th November.  I'm planning to close the account on 31st October so I can get my funds on Friday 1st November instead.

The email says to close the account you have to either pop in to a branch or write to them, so are you planning to go to a branch?

No, I will close it online as I normally do.  My last visit to YSB branch was before they introduced online banking  I think the bullet point in question is misleading. 

jameseonline

csw5780 said:

Marcoos said:

YBS Christmas Regular eSaver 2024

Got the email about maturity on 31/10/24. Seems funds will be transfered to an Easy Access Saver Issue 2 (quoted @ 4.60%) on 01/11/24. Which will do me fine, can shift it around after that.

Any difference between EAS Issue 1 and 2?

Nope they both pay the same rate

Kazza242

According to Moneyfacts, Coventry Building Society are launching a new regular saver, called 'Loyalty Mortgage Saver', paying 6.00% (variable).  

The account is available to existing members of the Society and you must hold an eligible mortgage account with Coventry Building Society, Godiva Mortgages Limited or ITL Mortgages Limited (eligibility criteria applies).  If opening a joint account only one customer will need to be eligible.

- Maximum monthly deposit £1,000 (per calendar month)
- Maximum total investment is £13,000
- The account runs for one year (the interest is paid on the anniversary of account opening)
- After the 14 day 'cooling off period', you can withdraw money or close your account, but this will incur a charge equal to 30 calendar days' interest on the amount withdrawn on each occasion. 

The account is already available to apply for if you login to Coventry BS online banking (you must meet the eligibility criteria required to open the account). 

Edit: The account has now been added to the Coventry BS website, here.

allegro120

Tipton RS rollover option.
I've opted for closure, but now thinking it will be better to rollover into Easy Access Maturity Saver.  I hope they allow people to change their mind.
The description of this account in summary box looks good enough for what I need from it, but there is one thing I can't understand:
"Withdrawals must be made by electronic transfer to your nominated bank account only... No faster payment withdrawals are available." - what's the difference between FP and electronic transfer?
What I really want to find out is - can I make a withdrawal without any aid of cheques or CHAPS?
Any thoughts?

PloughmansLunch

allegro120 said:

Tipton RS rollover option.
I've opted for closure, but now thinking it will be better to rollover into Easy Access Maturity Saver.  I hope they allow people to change their mind.
The description of this account in summary box looks good enough for what I need from it, but there is one thing I can't understand:
"Withdrawals must be made by electronic transfer to your nominated bank account only... No faster payment withdrawals are available." - what's the difference between FP and electronic transfer?
What I really want to find out is - can I make a withdrawal without any aid of cheques or CHAPS?
Any thoughts?

BACS payment? I've gone for the EA option too and will leave the minimum £10 sitting there to maintain memebership

Hattie627

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching a new regular saver, called 'Loyalty Mortgage Saver', paying 6.00% (variable).  

The account is available to existing members of the Society and you must hold an eligible mortgage account with Coventry Building Society, Godiva Mortgages Limited or ITL Mortgages Limited (eligibility criteria applies).  If opening a joint account only one customer will need to be eligible.

- Maximum monthly deposit £1,000 (per calendar month)
- Maximum total investment is £13,000
- The account runs for one year (the interest is paid on the anniversary of account opening)
- After the 14 day 'cooling off period', you can withdraw money or close your account, but this will incur a charge equal to 30 calendar days' interest on the amount withdrawn on each occasion. 

The account is already available to apply for if you login to Coventry BS online banking (you must meet the eligibility criteria required to open the account). 

Edit: The account has now been added to the Coventry BS website, here.

Hope this isn't the start of a new trend of limiting loyalty or preferential savings products to mortgage holders with the institution. Very restrictive.

ForumUser7

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching a new regular saver, called 'Loyalty Mortgage Saver', paying 6.00% (variable).  

The account is available to existing members of the Society and you must hold an eligible mortgage account with Coventry Building Society, Godiva Mortgages Limited or ITL Mortgages Limited (eligibility criteria applies).  If opening a joint account only one customer will need to be eligible.

- Maximum monthly deposit £1,000 (per calendar month)
- Maximum total investment is £13,000
- The account runs for one year (the interest is paid on the anniversary of account opening)
- After the 14 day 'cooling off period', you can withdraw money or close your account, but this will incur a charge equal to 30 calendar days' interest on the amount withdrawn on each occasion. 

The account is already available to apply for if you login to Coventry BS online banking (you must meet the eligibility criteria required to open the account). 

Edit: The account has now been added to the Coventry BS website, here.

Has anyone had any luck opening it without a mortgage or has it just not gone through please? Thanks

WillPS

Hattie627 said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching a new regular saver, called 'Loyalty Mortgage Saver', paying 6.00% (variable).  

The account is available to existing members of the Society and you must hold an eligible mortgage account with Coventry Building Society, Godiva Mortgages Limited or ITL Mortgages Limited (eligibility criteria applies).  If opening a joint account only one customer will need to be eligible.

- Maximum monthly deposit £1,000 (per calendar month)
- Maximum total investment is £13,000
- The account runs for one year (the interest is paid on the anniversary of account opening)
- After the 14 day 'cooling off period', you can withdraw money or close your account, but this will incur a charge equal to 30 calendar days' interest on the amount withdrawn on each occasion. 

The account is already available to apply for if you login to Coventry BS online banking (you must meet the eligibility criteria required to open the account). 

Edit: The account has now been added to the Coventry BS website, here.

Hope this isn't the start of a new trend of limiting loyalty or preferential savings products to mortgage holders with the institution. Very restrictive.

It's clearly a different sort of product to most of their regular savers, with a good but not wonderful rate but a much higher than usual deposit limit. I wouldn't be too concerned.

CuparLad

Hattie627 said:

Hope this isn't the start of a new trend of limiting loyalty or preferential savings products to mortgage holders with the institution. Very restrictive.

I think this says more about what's happening in the mortgage market, than the RS market.