Regular Savings Accounts: The Best Currently Available List!

castle96

Opened...''

[Deleted User]

Gone a bit crazy today.
Opened and funded PBS Xmas saver7%, Nationwide  regular saver 6.5% and appled minutes ago for the Newcastle BS 5.5%.

BTW how long have l got to fund  the Newcastle 5.5% after opening  it?

ThePirates

Can someone cleverer than me think about this? 
I opened a PBS Xmas Saver today and funded it and then will do on the 1st of each month. 
Worries I have been better opening and finding it on the 1st November and then each month?
Or will there interest received need the same over the 12 months?

masonic

ThePirates said:

Can someone cleverer than me think about this? 
I opened a PBS Xmas Saver today and funded it and then will do on the 1st of each month. 
Worries I have been better opening and finding it on the 1st November and then each month?
Or will there interest received need the same over the 12 months?

You'll get more interest by funding it towards the end of the month, then on the 1st of each month thereafter. Your average balance will be higher and you'll be at the maximum £1,500 balance for longer.

jaypers

masonic said:

ThePirates said:

Can someone cleverer than me think about this? 
I opened a PBS Xmas Saver today and funded it and then will do on the 1st of each month. 
Worries I have been better opening and finding it on the 1st November and then each month?
Or will there interest received need the same over the 12 months?

You'll get more interest by funding it towards the end of the month, then on the 1st of each month thereafter. Your average balance will be higher and you'll be at the maximum £1,500 balance for longer.

You’ll make about an extra £2 opening it on the 31st October and funding on the 1st of each month, compared to opening today. Is it worth it? 

masonic

jaypers said:

masonic said:

ThePirates said:

Can someone cleverer than me think about this? 
I opened a PBS Xmas Saver today and funded it and then will do on the 1st of each month. 
Worries I have been better opening and finding it on the 1st November and then each month?
Or will there interest received need the same over the 12 months?

You'll get more interest by funding it towards the end of the month, then on the 1st of each month thereafter. Your average balance will be higher and you'll be at the maximum £1,500 balance for longer.

You’ll make about an extra £2 opening it on the 31st October and funding on the 1st of each month, compared to opening today. Is it worth it? 

I wasn't advocating for doing that, I was advocating for not waiting until 1st November as suggested in the post I quoted. I have opened mine today, as it is towards the end of the month.

ChewyyBacca

Bridlington1 said:

Bridlington1 said:

Newcastle BS Newcastle Regular Saver (Issue 1) has been launched at 5.5% (var)

£200 per calendar month max
Can skip months if you wish
Unlimited withdrawals
Lasts 1 year
Can be opened/managed online and in branch
£2.4k max balance

Also whilst I remember Newcastle BS have been known to pull savings accounts very soon after launch. Their base rate tracker from a year or two back was gone within 24 hours of being launched IIRC.

Hopefully this one will last a tad longer but just something to consider if interested in opening this account.

I think the account will be available until atleast 1 Nov because their interest calculation assumes first deposit on 1st Nov

''What would the estimated balance be after 12 months based on a deposit of £200 per month?

Please note this projection is based on:

• An initial Deposit of £200 made on 1st November 2024
• etc etc''

lets see when they pull the account.

Bridlington1

ChewyyBacca said:

Bridlington1 said:

Bridlington1 said:

Newcastle BS Newcastle Regular Saver (Issue 1) has been launched at 5.5% (var)

£200 per calendar month max
Can skip months if you wish
Unlimited withdrawals
Lasts 1 year
Can be opened/managed online and in branch
£2.4k max balance

Also whilst I remember Newcastle BS have been known to pull savings accounts very soon after launch. Their base rate tracker from a year or two back was gone within 24 hours of being launched IIRC.

Hopefully this one will last a tad longer but just something to consider if interested in opening this account.

I think the account will be available until at least 1 Nov because their interest calculation assumes first deposit on 1st Nov

''What would the estimated balance be after 12 months based on a deposit of £200 per month?

Please note this projection is based on:

• An initial Deposit of £200 made on 1st November 2024
• etc etc''

lets see when they pull the account.

It may well be and I suspect it will last longer than the base rate tracker.

The rate, whilst competitive, isn't the top rate for a regular saver, although having said that it is the top rate among the currently available regular savers which allows unlimited penalty-free withdrawals online and doesn't require you to be an existing customer to open it if I'm not mistaken.

It seems to have been around a while already though given their summary box states:


I was just pointing out though that like Monmouthshire BS, they have been known to pull savings accounts within very short timeframes if they see a surge in applications, which may be worth taking into account when deciding when to open the account.

jameseonline

Interesting, I think I'll go for the new Principality (already got accounts with them) AND the Newcastle Building Society one seeing as I don't currently have any accounts with them and it might turn out to be a good move loyalty wise, also Newcastle Building Society have an app so I can try that out too.

Also when did Principality mobile site (and/or standard site) get a new look?

friolento

Looks like I missed Newcastle's account opening window for today. I thought my aplication had gone through and I would be able to see the new RS online but it's not there yet. As I wasn't sure I had applied properly, I applied for a second time - same result, and this time I noticed they say it could be 24 hours before I can see the account online. So now I have two "accepted" applications sitting in the Q. Let's see what happens. With Tipton BS, I had two of the same, both about to mature, with the max balance in each.