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Regular Savings Accounts: The Best Currently Available List!
Comments
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GetRichOrDieSaving said:Bridlington1 said:GetRichOrDieSaving said:For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice?
Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA.
If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.Many thanks & Merry Christmas!
The difference in the loss of interest from this account as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 21 -
Stargunner said:GetRichOrDieSaving said: I’mBridlington1 said:GetRichOrDieSaving said:For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice?
Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA.
If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.Many thanks & Merry Christmas!
The difference in the loss of interest from this account as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 2
fund on the 1st just to be on the safe side. Happy to sacrifice a couple quid return. After all I have about 25+ RS on the go currently, so just a little more managed to my existing portfolio.
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Special_Saver2 said:I have updated the thresholds in the introduction (post 1 of this thread) as we have now seen the effects of the November Bank of England interest rate change. The introduction now states the following: "I am only adding accounts where the interest rate is 5% or better, or 4.5% if the account has favourable conditions (e.g. you can pay in £500 per month or more, the interest rate is fixed, or if the account matures after at least 2 years)."
With the new criteria for eligibility on your list of regular savers, the following would be eligible for inclusion on the first page of this thread if I'm not mistaken:
Cumberland BS Cumberland Regular Saver at 5.2% (var) (reducing to 5% on 7/1/25), £250/mth max.
Chorley BS Regular Saver (30.11.2025) at 5.15% (var), £300/mth max.
Darlington BS 12 Month Regular Saver at 5.1% (var), £250/mth max.
Suffolk BS Online 1 Year Variable Rate Regular Saver (31.03.2026) at 5% (var), £500/mth max.
Suffolk BS 1 Year Variable Rate Regular Saver (31.03.2026) at 5% (var), £500/mth max.
Ford Money Step Up Saver at 4.75%, £200/mth max. The account pays a fixed rate of interest during its 12 month term though.
Saffron BS 12 Month Members' Regular Saver at 4.75% (var), account has a max monthly deposit of £500/mth.
Bath BS Homestart Regular Saver at 4.74% (reduces to 4.54% from 3/1/25), allows deposits of up to £250/mth but the account matures on the account holder's 35th birthday, which potentially makes the account term over a decade depending on the age of the account holder.
Additionally the Coventry BS Loyalty Mortgage Saver has gone NLA, apologies I think I forgot to mention this earlier.7 -
GetRichOrDieSaving said:Stargunner said:GetRichOrDieSaving said: I’mBridlington1 said:GetRichOrDieSaving said:For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice?
Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA.
If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.Many thanks & Merry Christmas!
The difference in the loss of interest from this account as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 2
fund on the 1st just to be on the safe side. Happy to sacrifice a couple quid return. After all I have about 25+ RS on the go currently, so just a little more managed to my existing portfolio.
The point I'm making is that if you open the account now you secure the account in case it goes NLA quickly. If you don't fund the account now and the account is still available on 1st there is nothing to stop you from closing the account on 1st and immediately reopening it and fully funding it that day at no cost to yourself.
By doing this the term of the account you're actually funding begins on 1/1/25, maturing 12 months from this date.3 -
Bridlington1 said:GetRichOrDieSaving said:Stargunner said:GetRichOrDieSaving said: I’mBridlington1 said:GetRichOrDieSaving said:For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice?
Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA.
If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.Many thanks & Merry Christmas!
The difference in the loss of interest from this account as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 2
fund on the 1st just to be on the safe side. Happy to sacrifice a couple quid return. After all I have about 25+ RS on the go currently, so just a little more managed to my existing portfolio.
The point I'm making is that if you open the account now you secure the account in case it goes NLA quickly. If you don't fund the account now and the account is still available on 1st there is nothing to stop you from closing the account on 1st and immediately reopening it and fully funding it that day at no cost to yourself.
By doing this the term of the account you're actually funding begins on 1/1/25, maturing 12 months from this date.
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Bridlington1 said:GetRichOrDieSaving said:Stargunner said:GetRichOrDieSaving said: I’mBridlington1 said:GetRichOrDieSaving said:For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice?
Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA.
If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.Many thanks & Merry Christmas!
The difference in the loss of interest from this account as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 2
fund on the 1st just to be on the safe side. Happy to sacrifice a couple quid return. After all I have about 25+ RS on the go currently, so just a little more managed to my existing portfolio.
The point I'm making is that if you open the account now you secure the account in case it goes NLA quickly. If you don't fund the account now and the account is still available on 1st there is nothing to stop you from closing the account on 1st and immediately reopening it and fully funding it that day at no cost to yourself.
By doing this the term of the account you're actually funding begins on 1/1/25, maturing 12 months from this date.2 -
Reading through the posts, I opened and funded the new Coventry seasonal saver today.
Can I put another £250 in early Jan or do I need to wait till the 20th?
Its no issue, I fund the highest payers first so its down the list but just wondered.0 -
[Deleted User] said:Reading through the posts, I opened and funded the new Coventry seasonal saver today.
Can I put another £250 in early Jan or do I need to wait till the 20th?
Its no issue, I fund the highest payers first so its down the list but just wondered.3 -
simonsmithsays said:simonsmithsays said:allegro120 said:flaneurs_lobster said:allegro120 said:
I am tempted to leave it as is and see if I can get away with two Christmas 2025s. Or the other option is to call Principality and tell them I've made a mistake. Any thoughts?
How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.
I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January. I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.
Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).
Principality BS
Six month RS matured into (another) Christmas 25 with £125 in it
Let's see what tomorrow brings when my Maturity Winter also matures.
That's three in total.
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simonsmithsays said:simonsmithsays said:simonsmithsays said:allegro120 said:flaneurs_lobster said:allegro120 said:
I am tempted to leave it as is and see if I can get away with two Christmas 2025s. Or the other option is to call Principality and tell them I've made a mistake. Any thoughts?
How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.
I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January. I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.
Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).
Principality BS
Six month RS matured into (another) Christmas 25 with £125 in it
Let's see what tomorrow brings when my Maturity Winter also matures.
That's three in total.0
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