Regular Savings Accounts: The Best Currently Available List!

veryintrigued

Newly_retired said:

I don’t think that Notts BS have any new RS on the books, so it will be a case of once they’re gone, they’re gone.

Notts BS

I agree that there haven't been any recent accounts but a number of their existing ones aren't 'going' though they are just having their rates trimmed.

For those that are having their rates slashed and remaining open I'm taking the majority out and reducing my s.o. to the minimum requirements.

Who knows what the future holds?

ctdctd

Notts BS

Letter today - Regular Saver issue 2 down to 0.05% + 0.5% bonus from 1st November.

apt

schiff said:

The difference between renewing a regular saver with one institution and other institutions is remarkable. My Club Lloyds RS matured today and as they had told me in a letter the account, with the interest added, had become an Easy Saver. I transferred it all to the current account, then withdrew the bulk to where I wanted it to go. Opened a new RS of which all the details appeared instantly, paid in my first £400 and set up the SO for November 1st et seq. All in one visit. Compare that with FD and HSBC inter alia.

Compare 1.5% and 2.75%.

typistretired

This July I opened my renewal regular saver with Firstdirect very quickly used to go out on 10th now goes out 13th

veryintrigued

ctdctd said:

Notts BS

Letter today - Regular Saver issue 2 down to 0.05% + 0.5% bonus from 1st November.

I also got letters for Panthers and RS8.
Bad post day.
All three 0.65% on Nov 1st

schiff

apt said:

schiff said:

The difference between renewing a regular saver with one institution and other institutions is remarkable. My Club Lloyds RS matured today and as they had told me in a letter the account, with the interest added, had become an Easy Saver. I transferred it all to the current account, then withdrew the bulk to where I wanted it to go. Opened a new RS of which all the details appeared instantly, paid in my first £400 and set up the SO for November 1st et seq. All in one visit. Compare that with FD and HSBC inter alia.

Compare 1.5% and 2.75%.

The comparison was not about interest rates, it was about the speed and smoothness of the transition between the end of one and start of a new. 

vermania

veryintrigued said:

ctdctd said:

Notts BS

Letter today - Regular Saver issue 2 down to 0.05% + 0.5% bonus from 1st November.

I also got letters for Panthers and RS8.
Bad post day.
All three 0.65% on Nov 1st

Really disappointing that Nottingham BS did this, there isn't long to go on the Special Saver 8.
Their letter goes on about how we are valued customers and it has done the right thing to hold rates until now, but 2.5% to 0.55% is a pretty swingeing cut for an existing customer.
I quite liked them until today, I won't be seeing out the account to the February 2021 maturity.

veryintrigued

vermania said:

veryintrigued said:

ctdctd said:

Notts BS

Letter today - Regular Saver issue 2 down to 0.05% + 0.5% bonus from 1st November.

I also got letters for Panthers and RS8.
Bad post day.
All three 0.65% on Nov 1st

Really disappointing that Nottingham BS did this, there isn't long to go on the Special Saver 8.
Their letter goes on about how we are valued customers and it has done the right thing to hold rates until now, but 2.5% to 0.55% is a pretty swingeing cut for an existing customer.
I quite liked them until today, I won't be seeing out the account to the February 2021 maturity.

Notts BS
Historically Notts RS accounts have always been variable but they've never altered the rates much.

They've come in two varieties since I've been a member the last decade.

1) Ones which are made up of an interest rate / bonus and a limited amount (one or two) of withdrawals are permitted each year to still receive the bonus.

2) Ones which receive purely interest (they have no bonus element) and no withdrawals are allowed at all.

Special Saver 8 (and Panthers 2 which we also notification of reduction yesterday) is of the second variety so unless I've missed something you are not permitted to withdraw or close the account even though the rate has been reduced.

The Regular Saver two (again rate reduction notification received yesterday) is of the first variety.

schiff

I've quite admired the Nottingham, and Furness, for not following the Gadarene rush to tiny rates for as long as they have. But it's disappointing that closing the account is apparently not an option (I've not had my letter yet). I would obviously prefer my £4000 earning better rates than 0.55% for the four months. Incidentally the T&Cs state that you can miss as many payments as you wish so I'll be cancelling my SO.

liamcov

veryintrigued said:

ctdctd said:

Notts BS

Letter today - Regular Saver issue 2 down to 0.05% + 0.5% bonus from 1st November.

I also got letters for Panthers and RS8.
Bad post day.
All three 0.65% on Nov 1st

I've had all three of these letter too - not from the Seasonal Saver though (currently 2.5%) has anyone received information about this account?

Even though these accounts do not allow withdrawals (except the RS issue 2) the letters state 'if you're considering moving your money to another account, please contact us or visit one of our branches and we can help you discover more about our other savings products. If you do decide to close your account and move your money to another provider you can do so by visiting your branch, although we will be very sorry to see you go.'

So does this mean they are going to allow us to close the accounts down even though they still have 1-5 months left to run on them?