Regular Savings Accounts: The Best Currently Available List!

Hattie627

CricketLady said:

Might I ask the same question about Lloyds 6.25%?  Mine's due to mature on 18th December, I've £4800 in it at the moment and was going to make my final payment on 1st December.  I can't imagine it'll still be 6.25% on 18th December though.

Thanks in advance - any advice gratefully received!

I early closed my Club Lloyds RS (6.25% fixed) last week by renewing it to an Easy Saver and moving the money out immediately. I then opened a new RS and deposited the first £400. All done in 10 minutes 

CricketLady

Thanks Hattie627, that's interesting - do you mind me asking what happened to the interest on your "old" regular saver-turned-easy-access, did the interest get added on straight away?

Stargunner

CricketLady said:

Thanks Hattie627, that's interesting - do you mind me asking what happened to the interest on your "old" regular saver-turned-easy-access, did the interest get added on straight away?

I did the same last week and the interest got added straight away.

rob37uk

t1redmonkey said:

Aldermore - looks like you can apply for the issue 2 now, but you're not permitted to hold it in addition to issue 1: https://www.aldermore.co.uk/savings-accounts/personal-savings-accounts/regular-saver-account/regular-saver-account/

The Aldermore systems are allowing an issue 2 to be opened in addition to the issue 1. There is a paragraph on both the issue's terms and conditions that says "You can only open one Regular Saver Issue 1 and this must be in your sole name". I think they forgot to update that clause with issue 2. Only 5% but it is £300/month with unlimited access and a Freepost address if ever needed. 

mattojgb

surreysaver said:

jaypers said:

schiff said:

Principality
My 6-Month RS is full at £1200 and is due to mature on 20/12. It appears to make sense to close it now (it's permitted) and reopen. Does that work? TIA

How much do you lose doing this? Mine matures on 23/12. 

You shouldn't lose anything - because in four and a half months time, you'll be in the same place you are now, with one and a half months still to go.
As long as you open a new one, you'll gain.
In fact, it'll give you some extra cashflow now to put in an easy access account earning about 5%, which you'll be unlikely to be earning in four months 

In a falling rate environment, the best time to renew the account would be the day before the account gets pulled (or immediately on maturity of your existing account if the account is still available). You potentially lose out otherwise - but probably by less than if you miss out on renewing the account by not doing it before it gets pulled. Each day you delay you're getting an extra day's interest on a substantial balance - and providing you renew in time you get all the interest on the renewed account. I renewed my account this week following the BoE rate reduction.

happybagger

qbadger said:

Vernon Building Society

Does anyone know if Vernon credit bank transfers and calculate interest on same calendar day received or business day for their regular saver account? Had a quick look through their savings terms but this doesn't seem to be specified in there.
Thanks!

Just checked my Vernon OLB and it is credited the same day as it leaves my current account.
They pay interest on the day of deposit, but not on the day of withdrawal.

Hattie627

CricketLady said:

Thanks Hattie627, that's interesting - do you mind me asking what happened to the interest on your "old" regular saver-turned-easy-access, did the interest get added on straight away?

Club Lloyds Regular Saver

Yes, full interest at 6.25% from the date of opening to the date of renewal was credited to the easy access saver immediately. I then moved the total balance, including the interest, out to my Club Lloyds current account and from there to my currently-used RS feeder account. This leaves an empty Lloyds easy access account which you can request closure of online if you want to tidy things up. 

Sussex_Green_Man

Special_Saver2 said:

Hi Everybody,

---

For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

First a big thank you for all the work you do keeping things up-to-date.  It's much appreciated.

I think there is a typo on the Principality BS 1 Year Regular Saver Bond (Issue 34) on the front page.  I think this should be Issue 35.  Issue 34 is NLA and is still paying 5.5%.  The replacement Issue 35 is paying 5.15% fixed.

jaypers

surreysaver said:

jaypers said:

schiff said:

Principality
My 6-Month RS is full at £1200 and is due to mature on 20/12. It appears to make sense to close it now (it's permitted) and reopen. Does that work? TIA

How much do you lose doing this? Mine matures on 23/12. 

You shouldn't lose anything - because in four and a half months time, you'll be in the same place you are now, with one and a half months still to go.
As long as you open a new one, you'll gain.
In fact, it'll give you some extra cashflow now to put in an easy access account earning about 5%, which you'll be unlikely to be earning in four months 

Closed and now reopened. Says I will receive funds by end of day, whatever time that means? 

flaneurs_lobster

jaypers said:

surreysaver said:

jaypers said:

schiff said:

Principality
My 6-Month RS is full at £1200 and is due to mature on 20/12. It appears to make sense to close it now (it's permitted) and reopen. Does that work? TIA

How much do you lose doing this? Mine matures on 23/12. 

You shouldn't lose anything - because in four and a half months time, you'll be in the same place you are now, with one and a half months still to go.
As long as you open a new one, you'll gain.
In fact, it'll give you some extra cashflow now to put in an easy access account earning about 5%, which you'll be unlikely to be earning in four months 

Closed and now reopened. Says I will receive funds by end of day, whatever time that means? 

I requested closure around 07:00 this AM, funds in my nominated CA around 15:00.