Regular Savings Accounts: The Best Currently Available List!

typistretired

London7766551 said:

Has anyone heard more about the Chase UK bank that was coming? It was speculated they would offer a good savings rate account.

JPMorgan Chase is set to launch its UK digital challenger, which includes a range of savings and loan products under its Chase brand in the UK, in the first quarter of 2021

typistretired

Virgin do not stipulate that you have to use the funds for home buying.  There were several boxes you could tick why you were opening the regular saver even "Rainy Day".

wiseonesomeofthetime

snow62 said:

E-mail from HSBC this morning re Regular Saver.  'Enjoy our highest savings rate' of.... 1%.  'Rates correct as at 24 November 2020.'  Inevitable, but gives people a few more days to apply - fortunately mine expired/renewed at the start of the month.

Looks like another current account I shall have no need for in 2021 🤷‍♂️

Gray001

Ah gr8 HSBC and First Direct.... the best reg saver rate is like 1.5% and easy access saver 0.75%. I've had a few accounts maturing and am wondering with the best rates so cut is it worth opening and maintaining them? I at least thought the HSBC /FD would have stayed at 2.75 or competitive as it was always best on the market!
Things for savers gonna get a lot worse 

vernall

snow62 said:

E-mail from HSBC this morning re Regular Saver.  'Enjoy our highest savings rate' of.... 1%.  'Rates correct as at 24 November 2020.'  Inevitable, but gives people a few more days to apply - fortunately mine expired/renewed at the start of the month.

My current one matures on 22/11. What’s the chances of me being able to open one on 23/11? If I remember right , HSBC are pretty slow at closing previous maturing one and allowing you to open another 

polymaff

Gray001 said:

Ah gr8 HSBC and First Direct.... the best reg saver rate is like 1.5% and easy access saver 0.75%. I've had a few accounts maturing and am wondering with the best rates so cut is it worth opening and maintaining them? I at least thought the HSBC /FD would have stayed at 2.75 or competitive as it was always best on the market!
Things for savers gonna get a lot worse 

HSBC made a decision to get out of interest earning and charging and concentrate on services a month or two ago.

polymaff

vernall said:

snow62 said:

E-mail from HSBC this morning re Regular Saver.  'Enjoy our highest savings rate' of.... 1%.  'Rates correct as at 24 November 2020.'  Inevitable, but gives people a few more days to apply - fortunately mine expired/renewed at the start of the month.

My current one matures on 22/11. What’s the chances of me being able to open one on 23/11? If I remember right , HSBC are pretty slow at closing previous maturing one and allowing you to open another 

Looked on their website? They are apologising for the lengthy delays in opening Regular Savers.

NS&I, Mark II ...

snow62

vernall said:

snow62 said:

E-mail from HSBC this morning re Regular Saver.  'Enjoy our highest savings rate' of.... 1%.  'Rates correct as at 24 November 2020.'  Inevitable, but gives people a few more days to apply - fortunately mine expired/renewed at the start of the month.

My current one matures on 22/11. What’s the chances of me being able to open one on 23/11? If I remember right , HSBC are pretty slow at closing previous maturing one and allowing you to open another 

Mine took a few days to process.  However, I think that may be because I didn't then have a Flexible Saver for it to go into, so they had to set it up.  If you have a FS it might transfer immediately on maturity (anyone?).  Worth a try.

JezR

Yes I do keep a Flexible Saver open with a minimum balance and the RS balance was transferred there on maturity last week and I could open up a new RS the same day. So tight but not impossible.

Fingerbobs

snow62 said:

vernall said:

snow62 said:

E-mail from HSBC this morning re Regular Saver.  'Enjoy our highest savings rate' of.... 1%.  'Rates correct as at 24 November 2020.'  Inevitable, but gives people a few more days to apply - fortunately mine expired/renewed at the start of the month.

My current one matures on 22/11. What’s the chances of me being able to open one on 23/11? If I remember right , HSBC are pretty slow at closing previous maturing one and allowing you to open another 

Mine took a few days to process.  However, I think that may be because I didn't then have a Flexible Saver for it to go into, so they had to set it up.  If you have a FS it might transfer immediately on maturity (anyone?).  Worth a try.

People's experiences seem to vary on this, but I've had both an HSBC and First Direct mature within the last year, and in both cases I was able to apply for a new RS account on the same day the original account disappeared from online banking, which was the day after the anniversary of original account opening. I already had the respective easy-access savings accounts open, but still had to wait a few days for the matured funds to appear.