Regular Savings Accounts: The Best Currently Available List!

Growingold

P3 said:

Disappointed Monmouthshire BS Xmas 1.1% did not make the front page, 
Imo any RS interest rate higher than the current highest easy access saving account should be on here. 
By drip feeding, it is making profit no matter how small

Maybe if it had been a fixed rate of 1.1% instead of variable.  Notwithstanding the bonus that you can deposit up to £1,00 a month the problem with this account as I see it is the interest rate could be reduced during the term and in their terms it says:-
If you close your account before maturity, the account will not qualify for the 1.10% AER/Gross variable interest rate.  Any interest you have earned will be calculated at the variable rate of our Easy Saver account

liamcov

What have people's experience been of closing down their Notts BS regular savers now the rates have dropped - haven't done so yet myself so not sure if they will credit the correct interest etc?

Also, on the Reg Saver (issue 2) have people closed it down completely or left some in?

veryintrigued

liamcov said:

What have people's experience been of closing down their Notts BS regular savers now the rates have dropped - haven't done so yet myself so not sure if they will credit the correct interest etc?

Also, on the Reg Saver (issue 2) have people closed it down completely or left some in?

Probably worth you scrolling back on here but personally had a great experience in branch with zero penalty withdrawals made leaving a small amount and amending November's standing orders for multiple RS.

someone

Deleted_User said:

Be careful with Triodos Bank. You have to give 33 days notice in advance of the 1 year anniversary of the "fixed regular saver" to get access to your money on the anniversary. The account automatically becomes a "regular saver" on the anniversary, and your accumulated cash is tied in to a derisory rate of interest for at least another 33 days. No other RS works like this.

Deleted_User said:

I had experience of the Triodos fixed regular saver in 2016/17. I got caught out on the notice period (see my above post) which was a novel concept to me in respect of regular savers. Usually a regular saver matures at the maturity date into an instant access account or savings plus interest are paid out at maturity into a nominated account selected by you. With Triodos you have to give 33 days notice prior to maturity in order to withdraw your money at maturity, otherwise the money morphs into a very low paying notice account which you cannot quickly escape from. You don't receive a reminder in advance of maturity to give notice. It is very sneeky and far from fair or ethical.

(Firstly this account is no-longer open for new customers)

FYI holding a Triodos Fixed Regular Saver (1.25% £500/month) I got this email about the account

We have also made changes to the following sections:

...

27.5 Triodos Fixed Regular Saver    
We have updated the description of the account that the Triodos Fixed Regular Saver will change to at the end of the one year term: After one year, the Account will be changed to a variable rate savings account and the relevant terms and interest rates will apply.

And term now reads

27.5 Maturity

After one year, the Account will be changed to a variable rate savings account and the relevant terms and interest rates will apply. Within 30 Calendar Days of the end of the fixed interest rate we will contact you to confirm these details and the new interest rate.

To me it *sounds like* the catch Hattie625 pointed out in the past about this account probably still exist. Also just to point out the terms here might be ... vague e.g. "Within 30 Calendar Days of the end" - is that before or after it ends.

veryintrigued

someone said:

Deleted_User said:

Be careful with Triodos Bank. You have to give 33 days notice in advance of the 1 year anniversary of the "fixed regular saver" to get access to your money on the anniversary. The account automatically becomes a "regular saver" on the anniversary, and your accumulated cash is tied in to a derisory rate of interest for at least another 33 days. No other RS works like this.

Deleted_User said:

I had experience of the Triodos fixed regular saver in 2016/17. I got caught out on the notice period (see my above post) which was a novel concept to me in respect of regular savers. Usually a regular saver matures at the maturity date into an instant access account or savings plus interest are paid out at maturity into a nominated account selected by you. With Triodos you have to give 33 days notice prior to maturity in order to withdraw your money at maturity, otherwise the money morphs into a very low paying notice account which you cannot quickly escape from. You don't receive a reminder in advance of maturity to give notice. It is very sneeky and far from fair or ethical.

(Firstly this account is no-longer open for new customers)

FYI holding a Triodos Fixed Regular Saver (1.25% £500/month) I got this email about the account

We have also made changes to the following sections:

...

27.5 Triodos Fixed Regular Saver    
We have updated the description of the account that the Triodos Fixed Regular Saver will change to at the end of the one year term: After one year, the Account will be changed to a variable rate savings account and the relevant terms and interest rates will apply.

And term now reads

27.5 Maturity

After one year, the Account will be changed to a variable rate savings account and the relevant terms and interest rates will apply. Within 30 Calendar Days of the end of the fixed interest rate we will contact you to confirm these details and the new interest rate.

To me it *sounds like* the catch Hattie625 pointed out in the past about this account probably still exist. Also just to point out the terms here might be ... vague e.g. "Within 30 Calendar Days of the end" - is that before or after it ends.

Tridos new T&C
Also struck me that the new T&C in their entirety were applicable from the 7th October and yet we received the email today! 

Ed-1

Martin's just hinted at a warning for HSBC/First Direct/M&S regular saver rates in previewing his show tonight. So he's obviously heard on the grapevine that these rates may be dropping from 2.75% soon.

schiff

Triodos
In my chronological list of RS maturities I've set the maturity date 40 days before the anniversary as a reminder.

Gers

Ed-1 said:

Martin's just hinted at a warning for HSBC/First Direct/M&S regular saver rates in previewing his show tonight. So he's obviously heard on the grapevine that these rates may be dropping from 2.75% soon.

Had to come, unfortunately.

veryintrigued

Gers said:

Ed-1 said:

Martin's just hinted at a warning for HSBC/First Direct/M&S regular saver rates in previewing his show tonight. So he's obviously heard on the grapevine that these rates may be dropping from 2.75% soon.

Had to come, unfortunately.

Demise of M&S and possibly FD & HSBC RS
 https://www.google.com/amp/s/www.moneysavingexpert.com/news/2020/11/m-s-bank-to-close-regular-saver-to-new-customers-/amp/

quirkydeptless

Gers said:

Ed-1 said:

Martin's just hinted at a warning for HSBC/First Direct/M&S regular saver rates in previewing his show tonight. So he's obviously heard on the grapevine that these rates may be dropping from 2.75% soon.

Had to come, unfortunately.

I was expecting a rate drop, but stopping them completely is sad news indeed 
My First Direct RS matured on the 31st October, but I can't open an new one as the old one still hasn't closed. Hopefully I can still make it before FD end it.
My HSBC and M&S ones have a few months left.
My Magic Money tree is looking very grim now