Regular Savings Accounts: The Best Currently Available List!

WillPS

allegro120 said:

Nick_C said:

I don't recall being anything from Monmouthshire about the 30 days being reduced to 14.

Is it still possible to close the account because of the drop in interest rate? 

And I have a note in my spreadsheet that I could withdraw some of the money if the interest rates falls?   Is this correct? And can I withdraw to £1 or is it the £50 minimum that was needed to open the account? 

Is it about MonBS Exclusive RS issue 2? Quote from t&c - 

"Can I withdraw money? No, you cannot withdraw money from this account for a 12 month term. You should not invest into this account if you think you will need access to your savings."

Despite that statement they do allow you to access your money in the event of a rate drop, or at any time through closure. It remains to be seen whether a rate drop allows a partial withdrawal, or if they will insist on closing the account (which can be done at any time).

Special_Saver2

Hi Everybody,

I have just updated the first page of this thread.

- Coventry BS Young Saver interest rate reduced from 5% gross p.a. variable to 4.75% from 2nd December 2024

- Penrith Regular E-Saver 200 (Issue 1) and Penrith Regular Saver 200 (Issue 2) added paying 5% gross p.a. variable on up to £200 per year for 2 years; for Penrith Regular E-Saver 200 (Issue 1) this is online only allowing 4 withdrawals per calendar year (the account will be closed upon the 5th withdrawal in the same calendar year) and can be opened by people aged over 18 (I presume that this is poorly worded and that they will allow people aged 18 to open the account); for the Penrith Regular Saver 200 (Issue 2) this is a branch only account with two withdrawals per calendar year and the account cannot be closed prior to maturity other than in the event of death, age to open the account not specified.

- Leeds BS Regular Saver (Issue 59) paying 4.95% gross p.a. variable with a maturity date of 1st December 2026 replaces issue 58

I will do the next update within the next 1-2 weeks.

SS2

---

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

Nick_C

Growingold said:

allegro120 said:

Nick_C said:

I don't recall being anything from Monmouthshire about the 30 days being reduced to 14.

Is it still possible to close the account because of the drop in interest rate? 

And I have a note in my spreadsheet that I could withdraw some of the money if the interest rates falls?   Is this correct? And can I withdraw to £1 or is it the £50 minimum that was needed to open the account? 

Is it about MonBS Exclusive RS issue 2? Quote from t&c - 

"Can I withdraw money? No, you cannot withdraw money from this account for a 12 month term. You should not invest into this account if you think you will need access to your savings."

I have this account and I have marked by it on my spreadsheet that withdrawals can be made from this account.  

The specific account conditions say no withdrawals, but at the time I opened my account the general T&Cs applicable to all accounts said you can withdraw money if the interest rate is reduced.

I don't know if they also changed these conditions. 

I'll give them a call on Monday. 

I don't really want to close the account at this stage, as I don't want the interest until the next tax year, but I'm minded to draw down to £1 or £50

happybagger

Nick_C said:

Growingold said:

allegro120 said:

Nick_C said:

I don't recall being anything from Monmouthshire about the 30 days being reduced to 14.

Is it still possible to close the account because of the drop in interest rate? 

And I have a note in my spreadsheet that I could withdraw some of the money if the interest rates falls?   Is this correct? And can I withdraw to £1 or is it the £50 minimum that was needed to open the account? 

Is it about MonBS Exclusive RS issue 2? Quote from t&c - 

"Can I withdraw money? No, you cannot withdraw money from this account for a 12 month term. You should not invest into this account if you think you will need access to your savings."

I have this account and I have marked by it on my spreadsheet that withdrawals can be made from this account.  

The specific account conditions say no withdrawals, but at the time I opened my account the general T&Cs applicable to all accounts said you can withdraw money if the interest rate is reduced.

I don't know if they also changed these conditions. 

I'll give them a call on Monday. 

I don't really want to close the account at this stage, as I don't want the interest until the next tax year, but I'm minded to draw down to £1 or £50

Save yourself the call and a wait, from their general savings T&C booklet:

"If we intend to lower the interest rate, we’ll let you know at least 14 days before the change happens, using letter, email, or text. If you’re not happy about the change, you can close your account or move the money to another one. If you do this within the 14 days, you won’t have to pay any charges or lose any interest."

I haven;'t gone back through this thread as there is so much fluff about Gatehouse and how long different people take to get money in their accounts from them (or Coventry), so I don't know when this rate change was notified, but either way you'd only be able to close (not withdraw leaving it open)

Source

Kazza242

Kim_13 said:

Mee said:

I note Kim_13 mentioned  'interest payment date (tax)'  above. Has anyone done a comprehensive list of RS and/or other accounts and their interest payment dates?

Those that don’t pay on anniversary or maturity are the exception. From the top of my head:

NatWest/RBS - Monthly, first working day

Stafford - 31 October
Melton - 31 March
Hinckley and Rugby - 1 December
Hanley Economic - 31 August

Hinckley and Rugby BS have now paid the interest into my matured regular saver this evening 30th November. 

(My regular saver was converted into an Easy Access account on maturity on the 29th November). 

ChewyyBacca

For people who had their Gatehouse reg saver (EPR 7%) mature, what was the actual profit rate you received? Is it 7% or a tad different?

apt

allegro120 said:

pecunianonolet said:

Can anybody remind me which regular saver accounts can take funding on Sunday 1st and which ones only from Monday 2nd using manual transfers? I know some can take an incoming payment on Sunday but won't pay you interest, which is why they need funding on Monday.

Sunday
Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Monday
Co-op, Hanley, Loughborough, Mansfield, MHBS, MonBS, Progressive, Saffron, Skipton, VM, RBS, Natwest.

VM accepts deposits 7 days a week.

subjecttocontract

ChewyyBacca said:

For people who had their Gatehouse reg saver (EPR 7%) mature, what was the actual profit rate you received? Is it 7% or a tad different?

I received £151 which is a bit more than I expected.
Don't know how to calculate what that is in interest and couldn't be bothered anyway.

jaypers

Just paid £250 into my Virgin RS and it’s showing as Pending so suspect posting date will end up being the 2nd (next working day). 

allegro120

apt said:

allegro120 said:

pecunianonolet said:

Can anybody remind me which regular saver accounts can take funding on Sunday 1st and which ones only from Monday 2nd using manual transfers? I know some can take an incoming payment on Sunday but won't pay you interest, which is why they need funding on Monday.

Sunday
Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Monday
Co-op, Hanley, Loughborough, Mansfield, MHBS, MonBS, Progressive, Saffron, Skipton, VM, RBS, Natwest.

VM accepts deposits 7 days a week.

I've deposited to VM at weekend and it showed as next working day.  I don't know whether the money is credited on the date sent, but I assume it is not.