Regular Savings Accounts: The Best Currently Available List!

WillPS

Kim_13 said:

Stargunner said:

received an email from Monmouthshire BS advising that they are reducing the rate on the below from 13th December.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 6.00  New Rate (%)  5.65

Very surprised at this from them - the rate being so much lower than the Issue 1 rate seemed to have had several reductions priced in already. With inflation now going the wrong way and another energy price cap rise and Ofcom’s new pounds and pence rises to fuel it further, I can’t see another cut for a while.

If I had more than the minimum in it, I would probably close it.

Also, a full 1% cut to 2.25% on their already low-ish by market standards EA (but that stays with just over £1 in for membership purposes.)

I'd also put £50 in just in case the rate became a leading one further down the line. It still could I guess, but it feels less likely.

Aidanmc

allegro120 said:

Aidanmc said:

Gatehouse account now showing EASY ACCESS REGULAR SAVER IS1

Account no beginning ERG

Mine changed too.  It would be good if they displayed or sent t&c for this account, it's not clear what kind of account this is and what you can and can't do with it.

I deposited into it from another Gatehouse Easy access.

Also sending a test deposit from my current account,

liamcov

Bridlington1 said:

Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.

What is the process for closing Issue 1 and opening another before it disappears? 

allegro120

liamcov said:

Bridlington1 said:

Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.

What is the process for closing Issue 1 and opening another before it disappears? 

I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.

mattojgb

Re Monmouth

I also funded this with only the minimum amount in the hope it might be become more competitive. It doesn't allow withdrawals so isn't ideal for me at the moment. It does have the advantage of allowing up to £500 per month.

flaneurs_lobster

Stargunner said:

Kim_13 said:

Stargunner said:

received an email from Monmouthshire BS advising that they are reducing the rate on the below from 13th December.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 6.00  New Rate (%)  5.65

Very surprised at this from them - the rate being so much lower than the Issue 1 rate seemed to have had several reductions priced in already. With inflation now going the wrong way and another energy price cap rise and Ofcom’s new pounds and pence rises to fuel it further, I can’t see another cut for a while.

If I had more than the minimum in it, I would probably close it.

Also, a full 1% cut to 2.25% on their already low-ish by market standards EA (but that stays with just over £1 in for membership purposes.)

5.65% is still higher than any EA account so I will still be funding it.

I can only afford to fund my RS collection when their rate is >5.5% so this one just about stays in the loop.

WillPS

With Principality BS changing to a new 6 month Regular Saver issue, is it worth closing/reopening the existing one do we think? Mrs WillPS's is in its final few weeks, mine expires in Jan (and I wouldn't mind pushing a bit more interest in to the next tax year).

ISTR the whole process can be done very quickly, can anyone confirm

Bob2000

allegro120 said:

liamcov said:

Bridlington1 said:

Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.

What is the process for closing Issue 1 and opening another before it disappears? 

I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.

If you close today with a full balance instead of letting it mature what do you gain in interest?

Stargunner

Withdrew funds last night from matured Gatehouse RS and they have now arrived in my bank, in plenty of time to fund other RS accounts from the 1st

schiff

I'm doing nothing with my Gatehouse till it is clarified. It is now described as EA RS Issue 1 at 5.00% and the start of the account number is now ERG. I have nothing in EA at 5.00% or better, so I'm leaving it alone for now. I've already got my £6K ready for Monday.
As for Monmouth, I read that people are not happy, withdrawing, stopping funding - what do they want, 5.65% is excellent in the current climate - until I infer that they have a limited portfolio at higher rates to concentrate on.