Regular Savings Accounts: The Best Currently Available List!

WillPS

bigjoe said:

allegro120 said:

Aidanmc said:

Thinking of applying for Melton Regular Saver 6.

Dont normally go for postal operated accounts.

Wasn't going to send id docs on first application attempt, usually i get ID electronically for bank/bs applications.

Do they typically look for verified ID?

I got ID electronically, didn't have to send anything.

Do monthly payments need to be by post too?

No, you can send in by Faster Payment. You can also provide a nominated account and withdraw to that account.

Only application is by post.

Move quickly if you want the account, I was under the impression it'd already have been made NLA by now.

Bridlington1

wiseonesomeofthetime said:

Bridlington1 said:

Coventry interest rate reductions 2/12/24

Loyalty RS Issue 1 from 6.75% to 6.5%

Loyalty RS Issue 2 from 6.5% to 6.25%

FH RS Issue 1 from 5.35% to 5.1%

Regular Saver Issue 5 from 5.25% to 5%

https://www.coventrybuildingsociety.co.uk/member/help/member-support/bank-of-england-base-rate.html

Crazy how we find out about these via this forum before the provider itself!

Thanks for this. Cannot locate the CBS Sunny Day Saver RS anywhere in that document, so I assume that will remain at 6.25% then

I've just phoned them and they've said the Sunny Day Saver, Mortgage RS, FHS Issue 2 and RS Issue 6 shall be unaffected by the current round of rate cuts so are holding their rates for now.

I'll phone them again when I get home to act as a double check.

Additionally it seems the Leeds BS RS Issue 55 is indeed still currently at 5.25%, unlike all other issues of their regular saver. I guessed the application link to it over the weekend and funded it to confirm the rate and it does show as 5.25% still.

I'll update the list of regular saver rate decreases later today.

GetRichOrDieSaving

Given the clear downward trend of rates and cuts as expected with the BOE reductions, do people think that RS will drop below 5%? 

WillPS

GetRichOrDieSaving said:

Given the clear downward trend of rates and cuts as expected with the BOE reductions, do people think that RS will drop below 5%? 

Some already are, but the high flyers have so far been pretty robust in staying where they are. Borrowing costs are rising despite the rate cut which suggests the market is pricing in future rises again.

To say much more would be crystal ball gazing, obviously the correct thing to do is take good rates as soon as you can and ignore the rubbish ones, moving money between existing ones as they become or cease being worth having.

subjecttocontract

I'm hopeful that rates will rise again next year. The economy and the fiscal decisions being made don't give me a feeling that we are on a regular downward path. World events, trade, USA etc will also have an impact. But none of us really know what the future holds.

jaypers

subjecttocontract said:

I'm hopeful that rates will rise again next year. The economy and the fiscal decisions being made don't give me a feeling that we are on a regular downward path. World events, trade, USA etc will also have an impact. But none of us really know what the future holds.

Much as I like savings rates being high, for the good of the majority I hope base rates reduce rather than turn around and go up again. 

ShinyStarlight1

jaypers said:

subjecttocontract said:

I'm hopeful that rates will rise again next year. The economy and the fiscal decisions being made don't give me a feeling that we are on a regular downward path. World events, trade, USA etc will also have an impact. But none of us really know what the future holds.

Much as I like savings rates being high, for the good of the majority I hope base rates reduce rather than turn around and go up again. 

Jaypers, I agree with you. There are members of my family, next generation down, who could do with some of the financial burden of their mortgage being reduced. I’m sure it’s the same for others too.

Dizzycap

Principality 1 Year Triple Access Regular Saver (Online) 5.75% reduced to 5.6% as of 5th December.

Dizzycap

GetRichOrDieSaving said:

Given the clear downward trend of rates and cuts as expected with the BOE reductions, do people think that RS will drop below 5%? 

Some already have either been reduced or have been offered at below the 5% mark:

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/

Bridlington1

Dizzycap said:

GetRichOrDieSaving said:

Given the clear downward trend of rates and cuts as expected with the BOE reductions, do people think that RS will drop below 5%? 

Some already have either been reduced or have been offered at below the 5% mark:

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/

They haven't stopped being offered below the 5% mark to my knowledge. Loughborough BS's Regular Saver Issue 1 for example paid 2.5% back in 2022 when it was a decent rate for a regular saver. The rate was never changed and continues to be offered at 2.5% to this day.