Regular Savings Accounts: The Best Currently Available List!

Bob2000

pafpcg said:

t1redmonkey said:

jaypers said:

Bob2000 said:

Another question then....
If the old version is still available  today, would l be able to apply if lm lucky. And then open the issue 2 in late December?

Yes as you can have 1 per issue, however I think issue 1 has disappeared now. 

You can still open issue 1:
https://online.principality.co.uk/OriginationsUI/Step1?ProductCode=6080&ProductType=RegularSaver

It may well be possible to open a new Issue2 alongside an existing Issue1, but Principality are blocking opening a new "Issue1" alongside an existing Issue2 - I've just attempted it and failed with the message that only one regular saver is allowed.

Edit: I'm guessing that that URL is to open a generic 6month regular saver which opens an Issue2 if Issue1 already exists; if Issue2 exists, then it's blocked because two of the same issue is not allowed.

Yep, I tried  and failed to open the first one. But issue 2 no problems. 

CuparLad

If you have opened the account today, it will fail COP until tomorrow.

[Deleted User]

CuparLad said:

If you have opened the account today, it will fail COP until tomorrow.

Right, thankyou.

cricidmuslibale

JamesRobinson48 said:

Principality BS 6 Month RS Issue 2:  the full application details including T&Cs are now available on the Principality website. As expected, it is permitted to hold both issues concurrently.

https://www.principality.co.uk/getmedia/d851a82b-09b3-437f-9d19-578e21c1afaf/6-Month-Regular-Saver-Issue-2.pdf

Thank you very much @JamesRobinson48 for this application link for the Principality Building Society 6 Month Regular Saver Issue 2 that you posted earlier today!

However there is now an important decision to be made. Is it advisable / better to open and fund this new issue of the 6 Month Regular Saver in the next day or two i.e. during these early December days, when one can be pretty sure that it will still be available with it having only just been released? Or would it in fact be better to delay opening it until later this month so that one can make the 2nd £200 payment at the start of January only a few days after the 1st deposit in late December, thus enabling £400 rather than £200 to be earning the 7.85% interest within a matter of days? This latter approach would also enable the maximum balance of £1200 to be earning the 7.85% interest for nearly two months rather than just over one month in May / June 2025. Any thoughts, please?

I would normally favour delaying the opening of any new Regular Saver that operates on a calendar month basis like this one does, until close to the end of the month in which it is released. However something inside me is telling me that on this occasion I might be risking this account being pulled well before the end of December. I think it's because of what's very recently happened with the Cahoot Sunny Day Saver, where its Issue 1 paying 5.20% annual interest was available for about a year, but then its Issue 2 paying 5.00% annually was only available for about a month before it was pulled and replaced by Issue 3 paying 4.75% annually. Thus I'm more than a little worried that Principality may be planning this 6 Month Regular Saver Issue 2 only to be available for a couple of weeks or so at the most before replacing it with Issue 3 paying significantly less than 7.85% (8% AER). If only we could hear from an insider at Principality who could give us some clues as to what they are planning to do in this respect!!

Another reason for delaying the opening of this new issue of the 6 Month Regular Saver until later this month is that when it matures in June 2025, for the majority of those that save into it, the final balance will probably need to go into an easy access savings account for at least a few days afterwards and possibly as long as a few weeks if the intention is to use the capital plus interest to help fund other regular savings accounts at the start of July. At the moment it is still possible to get 5% + interest in some easy access savings accounts (mostly NLA) but by June 2025 it is unlikely that anything much above 4% will be available for easy access savings. So it may be prudent to keep any matured funds in June 2025 in easy access savings for as little time as possible!

surreysaver

[Deleted User] said:

Not getting through the COP stage, apologies for asking but is this classed as a business?

Just click ignore, and pay the money anyway. Just ensure you've entered all the account details correctly. What I do is send £1, and check that's arrived before sending the rest of the money in case I've made an error 

castle96

just opened. Business account AS ADVISED on site. Failed CoP. Went ahead. Fully opened and funded

pecunianonolet

cricidmuslibale said:

JamesRobinson48 said:

Principality BS 6 Month RS Issue 2:  the full application details including T&Cs are now available on the Principality website. As expected, it is permitted to hold both issues concurrently.

https://www.principality.co.uk/getmedia/d851a82b-09b3-437f-9d19-578e21c1afaf/6-Month-Regular-Saver-Issue-2.pdf

Thank you very much @JamesRobinson48 for this application link for the Principality Building Society 6 Month Regular Saver Issue 2 that you posted earlier today!

However there is now an important decision to be made. Is it advisable / better to open and fund this new issue of the 6 Month Regular Saver in the next day or two i.e. during these early December days, when one can be pretty sure that it will still be available with it having only just been released? Or would it in fact be better to delay opening it until later this month so that one can make the 2nd £200 payment at the start of January only a few days after the 1st deposit in late December, thus enabling £400 rather than £200 to be earning the 7.85% interest within a matter of days? This latter approach would also enable the maximum balance of £1200 to be earning the 7.85% interest for nearly two months rather than just over one month in May / June 2025. Any thoughts, please?

I would normally favour delaying the opening of any new Regular Saver that operates on a calendar month basis like this one does, until close to the end of the month in which it is released. However something inside me is telling me that on this occasion I might be risking this account being pulled well before the end of December. I think it's because of what's very recently happened with the Cahoot Sunny Day Saver, where its Issue 1 paying 5.20% annual interest was available for about a year, but then its Issue 2 paying 5.00% annually was only available for about a month before it was pulled and replaced by Issue 3 paying 4.75% annually. Thus I'm more than a little worried that Principality may be planning this 6 Month Regular Saver Issue 2 only to be available for a couple of weeks or so at the most before replacing it with Issue 3 paying significantly less than 7.85% (8% AER). If only we could hear from an insider at Principality who could give us some clues as to what they are planning to do in this respect!!

I usually follow your approach opening and funding end of the month because of the above procedure and did so for issue 1 in October. 

Reasons why I opened and funded issue 2 today:

- Access to funds only by closure of account
- Need interest to be available as early as possible in the next financial year (personal reasons and tax planning)
- Access to funds as early as possible next financial year to stick into an ISA as early as possible in a rate reducing environment 
- Diverting monthly available funds from lower paying accounts to higher paying
- Risk of account pull before Christmas (difficulty monitoring funding targets at society level with staff on holiday)

Of course, nobody holds a crystal ball on developments but I expect rates to still fall due to growing recession threads, potential trade restrictions due to US tariffs, softening UK labour market, debt crisis, etc. Generally a rather unpredictable macro-economic environment globally.

Hope it helps with your decision making process.

cricidmuslibale

pecunianonolet said:

cricidmuslibale said:

JamesRobinson48 said:

Principality BS 6 Month RS Issue 2:  the full application details including T&Cs are now available on the Principality website. As expected, it is permitted to hold both issues concurrently.

https://www.principality.co.uk/getmedia/d851a82b-09b3-437f-9d19-578e21c1afaf/6-Month-Regular-Saver-Issue-2.pdf

Thank you very much @JamesRobinson48 for this application link for the Principality Building Society 6 Month Regular Saver Issue 2 that you posted earlier today!

However there is now an important decision to be made. Is it advisable / better to open and fund this new issue of the 6 Month Regular Saver in the next day or two i.e. during these early December days, when one can be pretty sure that it will still be available with it having only just been released? Or would it in fact be better to delay opening it until later this month so that one can make the 2nd £200 payment at the start of January only a few days after the 1st deposit in late December, thus enabling £400 rather than £200 to be earning the 7.85% interest within a matter of days? This latter approach would also enable the maximum balance of £1200 to be earning the 7.85% interest for nearly two months rather than just over one month in May / June 2025. Any thoughts, please?

I would normally favour delaying the opening of any new Regular Saver that operates on a calendar month basis like this one does, until close to the end of the month in which it is released. However something inside me is telling me that on this occasion I might be risking this account being pulled well before the end of December. I think it's because of what's very recently happened with the Cahoot Sunny Day Saver, where its Issue 1 paying 5.20% annual interest was available for about a year, but then its Issue 2 paying 5.00% annually was only available for about a month before it was pulled and replaced by Issue 3 paying 4.75% annually. Thus I'm more than a little worried that Principality may be planning this 6 Month Regular Saver Issue 2 only to be available for a couple of weeks or so at the most before replacing it with Issue 3 paying significantly less than 7.85% (8% AER). If only we could hear from an insider at Principality who could give us some clues as to what they are planning to do in this respect!!

I usually follow your approach opening and funding end of the month because of the above procedure and did so for issue 1 in October. 

Reasons why I opened and funded issue 2 today:

- Access to funds only by closure of account
- Need interest to be available as early as possible in the next financial year (personal reasons and tax planning)
- Access to funds as early as possible next financial year to stick into an ISA as early as possible in a rate reducing environment 
- Diverting monthly available funds from lower paying accounts to higher paying
- Risk of account pull before Christmas (difficulty monitoring funding targets at society level with staff on holiday)

Of course, nobody holds a crystal ball on developments but I expect rates to still fall due to growing recession threads, potential trade restrictions due to US tariffs, softening UK labour market, debt crisis, etc. Generally a rather unpredictable macro-economic environment globally.

Hope it helps with your decision making process.

Thank you very much for this swift and very well thought out response to my earlier post!

I really do appreciate how you've so neatly summed up the advantages in opening and funding Issue 2 either today itself or certainly within the next few days rather than leaving it until considerably later in December! 

It certainly does help with my decision making process and I'm very grateful for your input in this regard!

Bridlington1

cricidmuslibale said:

pecunianonolet said:

cricidmuslibale said:

JamesRobinson48 said:

Principality BS 6 Month RS Issue 2:  the full application details including T&Cs are now available on the Principality website. As expected, it is permitted to hold both issues concurrently.

https://www.principality.co.uk/getmedia/d851a82b-09b3-437f-9d19-578e21c1afaf/6-Month-Regular-Saver-Issue-2.pdf

Thank you very much @JamesRobinson48 for this application link for the Principality Building Society 6 Month Regular Saver Issue 2 that you posted earlier today!

However there is now an important decision to be made. Is it advisable / better to open and fund this new issue of the 6 Month Regular Saver in the next day or two i.e. during these early December days, when one can be pretty sure that it will still be available with it having only just been released? Or would it in fact be better to delay opening it until later this month so that one can make the 2nd £200 payment at the start of January only a few days after the 1st deposit in late December, thus enabling £400 rather than £200 to be earning the 7.85% interest within a matter of days? This latter approach would also enable the maximum balance of £1200 to be earning the 7.85% interest for nearly two months rather than just over one month in May / June 2025. Any thoughts, please?

I would normally favour delaying the opening of any new Regular Saver that operates on a calendar month basis like this one does, until close to the end of the month in which it is released. However something inside me is telling me that on this occasion I might be risking this account being pulled well before the end of December. I think it's because of what's very recently happened with the Cahoot Sunny Day Saver, where its Issue 1 paying 5.20% annual interest was available for about a year, but then its Issue 2 paying 5.00% annually was only available for about a month before it was pulled and replaced by Issue 3 paying 4.75% annually. Thus I'm more than a little worried that Principality may be planning this 6 Month Regular Saver Issue 2 only to be available for a couple of weeks or so at the most before replacing it with Issue 3 paying significantly less than 7.85% (8% AER). If only we could hear from an insider at Principality who could give us some clues as to what they are planning to do in this respect!!

I usually follow your approach opening and funding end of the month because of the above procedure and did so for issue 1 in October. 

Reasons why I opened and funded issue 2 today:

- Access to funds only by closure of account
- Need interest to be available as early as possible in the next financial year (personal reasons and tax planning)
- Access to funds as early as possible next financial year to stick into an ISA as early as possible in a rate reducing environment 
- Diverting monthly available funds from lower paying accounts to higher paying
- Risk of account pull before Christmas (difficulty monitoring funding targets at society level with staff on holiday)

Of course, nobody holds a crystal ball on developments but I expect rates to still fall due to growing recession threads, potential trade restrictions due to US tariffs, softening UK labour market, debt crisis, etc. Generally a rather unpredictable macro-economic environment globally.

Hope it helps with your decision making process.

Thank you very much for this swift and very well thought out response to my earlier post!

I really do appreciate how you've so neatly summed up the advantages in opening and funding Issue 2 either today itself or certainly within the next few days rather than leaving it until considerably later in December! 

It certainly does help with my decision making process and I'm very grateful for your input in this regard!

I'm taking a half and half approach. I've opened and funded the account today and intend to close and reopen the account at the end of the month to get the full benefit of the regular saver. 

surreysaver

Bridlington1 said:

cricidmuslibale said:

pecunianonolet said:

cricidmuslibale said:

JamesRobinson48 said:

Principality BS 6 Month RS Issue 2:  the full application details including T&Cs are now available on the Principality website. As expected, it is permitted to hold both issues concurrently.

https://www.principality.co.uk/getmedia/d851a82b-09b3-437f-9d19-578e21c1afaf/6-Month-Regular-Saver-Issue-2.pdf

Thank you very much @JamesRobinson48 for this application link for the Principality Building Society 6 Month Regular Saver Issue 2 that you posted earlier today!

However there is now an important decision to be made. Is it advisable / better to open and fund this new issue of the 6 Month Regular Saver in the next day or two i.e. during these early December days, when one can be pretty sure that it will still be available with it having only just been released? Or would it in fact be better to delay opening it until later this month so that one can make the 2nd £200 payment at the start of January only a few days after the 1st deposit in late December, thus enabling £400 rather than £200 to be earning the 7.85% interest within a matter of days? This latter approach would also enable the maximum balance of £1200 to be earning the 7.85% interest for nearly two months rather than just over one month in May / June 2025. Any thoughts, please?

I would normally favour delaying the opening of any new Regular Saver that operates on a calendar month basis like this one does, until close to the end of the month in which it is released. However something inside me is telling me that on this occasion I might be risking this account being pulled well before the end of December. I think it's because of what's very recently happened with the Cahoot Sunny Day Saver, where its Issue 1 paying 5.20% annual interest was available for about a year, but then its Issue 2 paying 5.00% annually was only available for about a month before it was pulled and replaced by Issue 3 paying 4.75% annually. Thus I'm more than a little worried that Principality may be planning this 6 Month Regular Saver Issue 2 only to be available for a couple of weeks or so at the most before replacing it with Issue 3 paying significantly less than 7.85% (8% AER). If only we could hear from an insider at Principality who could give us some clues as to what they are planning to do in this respect!!

I usually follow your approach opening and funding end of the month because of the above procedure and did so for issue 1 in October. 

Reasons why I opened and funded issue 2 today:

- Access to funds only by closure of account
- Need interest to be available as early as possible in the next financial year (personal reasons and tax planning)
- Access to funds as early as possible next financial year to stick into an ISA as early as possible in a rate reducing environment 
- Diverting monthly available funds from lower paying accounts to higher paying
- Risk of account pull before Christmas (difficulty monitoring funding targets at society level with staff on holiday)

Of course, nobody holds a crystal ball on developments but I expect rates to still fall due to growing recession threads, potential trade restrictions due to US tariffs, softening UK labour market, debt crisis, etc. Generally a rather unpredictable macro-economic environment globally.

Hope it helps with your decision making process.

Thank you very much for this swift and very well thought out response to my earlier post!

I really do appreciate how you've so neatly summed up the advantages in opening and funding Issue 2 either today itself or certainly within the next few days rather than leaving it until considerably later in December! 

It certainly does help with my decision making process and I'm very grateful for your input in this regard!

I'm taking a half and half approach. I've opened and funded the account today and intend to close and reopen the account at the end of the month to get the full benefit of the regular saver. 

     I wonder if it costs you more in electricity to do that than it earns you in interest? Or are you getting free electricity from somewhere?