Regular Savings Accounts: The Best Currently Available List!

poolboy

I got to 5k natwest saver fairly quickly by putting each shopping item through individually at morrisons, double roundups, easily 10 quid a day.  I m really surprised I wasn't binned off.  Don't forget the natwest sister banks, bank of scotland, wish ulster would launch one.

Middle_of_the_Road

poolboy said:

I got to 5k natwest saver fairly quickly by putting each shopping item through individually at morrisons, double roundups, easily 10 quid a day.  I m really surprised I wasn't binned off.  Don't forget the natwest sister banks, bank of scotland, wish ulster would launch one.

That's RBS. BOS is part of the Lloyds group.

allegro120

poolboy said:

I got to 5k natwest saver fairly quickly by putting each shopping item through individually at morrisons, double roundups, easily 10 quid a day.  I m really surprised I wasn't binned off.  Don't forget the natwest sister banks, bank of scotland, wish ulster would launch one.

Rather interesting technique That must consume more time than doing it via NS&I Direct Saver. With NS&I I did about 4 per minute.

Ulster never offers the same savings products as the other two.

  

allegro120

begbeer said:

I have a halifax regular saver which is automatically renewed each year, but I have not put any money into it for the last few years, if I pay into it in December will the year start then,  or do I have to close it and reopen another one, if so how do I do this.

The year started when your account was renewed.  

Some time ago when the rates were rapidly increasingI was able to close this account online and immediately open a new one.  I've looked at it now and couldn't find the option to close regular saver online, but as others pointed out you can morph the account into something else and open a new one straight away.

callum9999

poolboy said:

I got to 5k natwest saver fairly quickly by putting each shopping item through individually at morrisons, double roundups, easily 10 quid a day.  I m really surprised I wasn't binned off.  Don't forget the natwest sister banks, bank of scotland, wish ulster would launch one.

Are you sure that's a good use of your time?

You can generally get Morrisons gift cards for at least a 3% discount online, would you not be better off getting your shopping with that while leaving the round-up cash in one of the numerous accounts that pay around 5%? Unless I've missed something, the gift card discount saves you more than the additional interest you would earn from the roundups, and you don't have to stand at a till doing transaction after transaction every day!

liamcov

spreadsheeterapple said:

What is special about Leeds Reg Saver issue 55, apart from being a little higher interest rate, it is still variable and reducing over time. Also doesn't it mature sooner than a current issue, 4 months sooner, hence won't get a full 2 years worth of interest and losing several months on the highest balance at the back end compared with issue 58.

I don't get it, TIA for enlightenment

When does the 55 mature? I thought it was linked to account opening?

WillPS

callum9999 said:

Are you sure that's a good use of your time? 

I'm not sure why people see fit to make these sorts of judgments on here. It's a money saving forum. If people want to spend their time saving the pennies that's totally up to them.

callum9999 said:

You can generally get Morrisons gift cards for at least a 3% discount online, would you not be better off getting your shopping with that while leaving the round-up cash in one of the numerous accounts that pay around 5%? Unless I've missed something, the gift card discount saves you more than the additional interest you would earn from the roundups, and you don't have to stand at a till doing transaction after transaction every day!

You're totally missing something it takes almost 3 years to 'fill up' a Natwest/RBS digital regular saver with £150 monthly deposits alone.

A double round up generates a deposit up to £1.98 a time - or perhaps a more realistic £1.80 for a 10p banana. That £1.80 will earn an additional 1.8p of interest in Y1 (when compared to a 5% easy access), an additional 1.8p of interest in Y2 and potentially almost an additional 1.8p of interest in Y3 - all presuming that 1% arbitrage remains.

The cashback on that 10p banana had it been paid for with a discounted gift card would have been less than half a penny. 

For clarity, I don't do this - but I don't scorn those who do it, in fact I commend them for their thriftiness. I just can't be bothered myself.

allegro120

liamcov said:

spreadsheeterapple said:

What is special about Leeds Reg Saver issue 55, apart from being a little higher interest rate, it is still variable and reducing over time. Also doesn't it mature sooner than a current issue, 4 months sooner, hence won't get a full 2 years worth of interest and losing several months on the highest balance at the back end compared with issue 58.

I don't get it, TIA for enlightenment

When does the 55 mature? I thought it was linked to account opening?

Mine matures on 2nd November 2026, I've opened it 3 days ago on 20th November.  I was trying to open issue 58, but it turned to be issue 55.

spreadsheeterapple

allegro120 said:

liamcov said:

When does the 55 mature? I thought it was linked to account opening?

Mine matures on 2nd November 2026, I've opened it 3 days ago on 20th November.  I was trying to open issue 58, but it turned to be issue 55.

Leeds B Soc set specific maturity dates, unlike other firm's regular savers.

"Regular Saver (Issue 55) The term is fixed until 3 August 2026"

"Regular Saver (Issue 58) The term is fixed until 2 November 2026"

simonsmithsays

callum9999 said:

poolboy said:

I got to 5k natwest saver fairly quickly by putting each shopping item through individually at morrisons, double roundups, easily 10 quid a day.  I m really surprised I wasn't binned off.  Don't forget the natwest sister banks, bank of scotland, wish ulster would launch one.

Are you sure that's a good use of your time?

No doubt more profitable than typing replies on here.