Regular Savings Accounts: The Best Currently Available List!

GreenBitterfly

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

Aceace

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

To put it in perspective, you've only missed out on fifty-odd quid profit for the price of tying up to £7k of capital up for over a year. 

Fingerbobs

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

I don't see how they would be able to tell exactly when the application form was completed and posted, as long as it arrives with them within the next few days...

London7766551

cricidmuslibale said:

London7766551 said:

eastofeden said:

Only once a day?😂😂😂

Several times if I happen to be having a discussion elsewhere on the site! I need at least one more account to keep my money growing! Most of the accounts mature next year!

I have opened a couple of new ones (Tipton 1.35% £500 a month and the coventry saver 1.55% £500 a month, also the principality xmas saver 1.50%/£125 a month) RBS digital too, Could do with a few other accounts with a higher interest instead of the xmas and digital low value accounts.

This is very similar to what I've been doing in the last few days. In fact if it were not for this thread I may not have realised that Principality in particular has been issuing regular savers for quite some time now, usually with at least reasonable interest rates, and I also learnt from this thread, just as importantly to me, that they are usually pretty good with both customer service and their online system. All that encouraged me enough to start saving with them for the very first time two weeks ago and only I wish I'd done so long before.

I forgot the Virgin house builder account £250 per month, 1.75%. This is still open as far as I know.

London7766551

Aceace said:

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

To put it in perspective, you've only missed out on fifty-odd quid profit for the price of tying up to £7k of capital up for over a year. 

£50 for pretty much doing nothing!

Aceace

London7766551 said:

Aceace said:

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

To put it in perspective, you've only missed out on fifty-odd quid profit for the price of tying up to £7k of capital up for over a year. 

£50 for pretty much doing nothing!

Fair enough. I wasn't suggesting that you shouldn't do it if it's your bag. Just that I was surprised that missing out on it was such a disappointment. It seems to me that regular savers pay such poor returns now that by the time you've accounted for arranging for the regular payments to be in a lower paying easy access account so that they are available for the monthly payments, you would probably be better off with a term account. Sticking £7k in a 1 year account would pay £70 with much less hassle,  and you would be able to save larger sums, reducing the need to manage so many RS accounts. Personally I'd now rather take a small risk on the capital for better returns, but that's obviously not suitable for all. Each to his own. 

bristolleedsfan

London7766551 said:

Aceace said:

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

To put it in perspective, you've only missed out on fifty-odd quid profit for the price of tying up to £7k of capital up for over a year. 

£50 for pretty much doing nothing!

£50 less what it could be earning in whatever other accounts people hold, for most people who have 1.2% Skipton Instant Access account or an account paying similar %, 1.35% regular saver was probably no big deal / hardly any gain for those who are moving £500 a month for so little % difference

P3

I think us lot are chasing the best possible interest rate rather than look at the £ gain. You are right, drip feeding from £6k in 1.2% vs £500 for 12 months at 1.35% RS, gets you £5 more lol (£77 Vs £72)

schiff

bristolleedsfan said:

London7766551 said:

Aceace said:

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

To put it in perspective, you've only missed out on fifty-odd quid profit for the price of tying up to £7k of capital up for over a year. 

£50 for pretty much doing nothing!

£50 less what it could be earning in whatever other accounts people hold, for most people who have 1.2% Skipton Instant Access account or an account paying similar %, 1.35% regular saver was probably no big deal / hardly any gain for those who are moving £500 a month for so little % difference

The difference is 0.15%, admittedly not a lot, but the 1.35% is fixed, the Skipton isn't (not entirely anyway). And you know about oak trees and little acorns! 

Frogletina

bristolleedsfan said:

London7766551 said:

Aceace said:

GreenBitterfly said:

I think I might have to check the thread daily, so annoyed I missed out on the Tipton Building society Regular saver!

To put it in perspective, you've only missed out on fifty-odd quid profit for the price of tying up to £7k of capital up for over a year. 

£50 for pretty much doing nothing!

£50 less what it could be earning in whatever other accounts people hold, for most people who have 1.2% Skipton Instant Access account or an account paying similar %, 1.35% regular saver was probably no big deal / hardly any gain for those who are moving £500 a month for so little % difference

How long is that instant access going to remain at 1.2%? I was thinking of not renewing regular savers at 1% but even they are higher now than my highest instant access with Marcus. I'll always need some money on instant access, but regular savers spread out over the year mean I don't need as much. If I had that Skipton account I'd probably still open regular savers and put the minimum money in so I had somewhere to transfer the rest if it reduced. I had my Marcus account open with very little in it for months, now it's very useful.