Regular Savings Accounts: The Best Currently Available List!

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where_are_we said:

MHBS RS Issue 2 - So they are not enforcing their T&C`s?

"Customers may only have two Fixed Term Regular Saver accounts open at a time, either solely or jointly, with a combined maximum deposit of £250 per month not exceeding the maximum balance of £3,750.00"

My reading of the above implies you cannot pay in two lots of £250 each month.

Those are indeed the T&C as published.

I think it's very hit n miss to follow in the footsteps of those people who report having 'got away' with funding more than £250 in total. Their experience could be due to the building society computerised system simply not picking it up; perhaps the customer has more than a single customer record, perhaps there is manual involvement in checking and personnel are deployed on other duties, perhaps they don't allocate time to look at more than a few such discrepancies per month. Perhaps their newly-launched amended website goes alongside increased computer programming in the background to pick up such discrepancies earlier in future.
  So perhaps the building society will attempt to 'undo' the extra funded accounts at some indeterminate time, with the risk of interest paid being reduced to their flexible-access rate. Who knows!

There are other firms offering good rates, so personally I just keep to their T&Cs for a simpler life, split 'spare' money across them, nab any new accounts as they appear from other firms, whilst of course keeping 6 months as easy-ish access as per always advised, and mixing with some cash ISAs & other things. Where there is a willing spouse in a trusting relationship, money can be shared between you; we open an account each to 'double' the money in good rate accounts. We're both saving aggressively because we want to move home, so both of us are on the same page as regards saving.

Bob2000

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second deposit on the first January?

Bridlington1

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I'd be inclined to open and fund it on 31/12/24 and make your second deposit on 1/1/25 to give you the highest average balance over the account term and thus the most interest overall. Plus it means the account matures at the end of a month, which is more convenient if you have other regular savers that need funding on 1st of the month.

allegro120

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I’d fund it today and again on 1st January.

Bob2000

Bridlington1 said:

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I'd be inclined to open and fund it on 31/12/24 and make your second deposit on 1/1/25 to give you the highest average balance over the account term and thus the most interest overall. Plus it means the account matures at the end of a month, which is more convenient if you have other regular savers that need funding on 1st of the month.

Thanks for quick reply.
Another question, please.
If l do open the account today I'll still be OK under the terms to fund it on 31st?

Bob2000

allegro120 said:

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I’d fund it today and again on 1st January.

So no real advantage then to open and fund on the 31st?

Bridlington1

Bob2000 said:

Bridlington1 said:

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I'd be inclined to open and fund it on 31/12/24 and make your second deposit on 1/1/25 to give you the highest average balance over the account term and thus the most interest overall. Plus it means the account matures at the end of a month, which is more convenient if you have other regular savers that need funding on 1st of the month.

Thanks for quick reply.
Another question, please.
If l do open the account today I'll still be OK under the terms to fund it on 31st?

You have 5 days from the day the account is opened to fund the account, otherwise the account gets closed, if you open the account today you'll have till 31/12/24 to fund it.

Bob2000 said:

allegro120 said:

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I’d fund it today and again on 1st January.

So no real advantage then to open and fund on the 31st?

The advantage of opening and funding it on 31st rather than today would be that you'd be effectively swapping having 5 days of the account sitting with a £200 balance earning 8% in December for an extra 5 days of having the account sat at a £1.2k balance earning 8% in June. In other words you get more interest opening/funding the account on 31/12/24 as opposed to opening/funding the account today.

simonsmithsays

Bridlington1 said:

simonsmithsays said:

Bobblehat said:

dcs34 said:

Market Harborough Fixed Term Regular Saver (31.03.2026)
For those that have applied online, would you mind confirming the process? I've logged in and gone to 'Apply' > 'Regular' and then checked all the other types, but can't see it on the system at all.

Possible that MHBS have spotted some issues (i.e. people opening both issues and funding, it was supposed to remain branch only, etc.) and have withdrawn from the online system?

Yep! Not visible for me when logged in! Watch this space I suppose!

It was visible three hours ago under Regular Savers.

It's now, no longer, an option.

They've simply removed it from online applications.

The application link still seems to be live
https://mhbsonline.co.uk/bankfastApply/apply?code=1yr02

Looks like the MHBS RS link has been taken down

masonic

simonsmithsays said:

Bridlington1 said:

simonsmithsays said:

Bobblehat said:

dcs34 said:

Market Harborough Fixed Term Regular Saver (31.03.2026)
For those that have applied online, would you mind confirming the process? I've logged in and gone to 'Apply' > 'Regular' and then checked all the other types, but can't see it on the system at all.

Possible that MHBS have spotted some issues (i.e. people opening both issues and funding, it was supposed to remain branch only, etc.) and have withdrawn from the online system?

Yep! Not visible for me when logged in! Watch this space I suppose!

It was visible three hours ago under Regular Savers.

It's now, no longer, an option.

They've simply removed it from online applications.

The application link still seems to be live
https://mhbsonline.co.uk/bankfastApply/apply?code=1yr02

Looks like the MHBS RS link has been taken down

Yes, discussed here: https://forums.moneysavingexpert.com/discussion/comment/81183275/#Comment_81183275

Bobblehat

Bob2000 said:

allegro120 said:

Bob2000 said:

Re: Principality 6 month RS

So if l opened this account today, if possible, being boxing day. Does anyone suggest  funding today or leaving until Tuesday 31st then second on the first January?

I’d fund it today and again on 1st January.

So no real advantage then to open and fund on the 31st?

Advantage of around £1 .... ~£34 instead of ~£33.