Regular Savings Accounts: The Best Currently Available List!

schiff

cricidmuslibale said:

I hope the new Coventry Regular Saver is still available in mid December; I'm not going to open one before then simply because I won't be able to make the maximum monthly deposit allowed on the day of opening if I do.

I've opened mine today and I have till 26/12 to make my first deposit. I'm aiming to deposit next week. Suggest you take action today, at the rate these new accounts are being withdrawn it pays to act fast.

polymaff

surreysaver said:

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
This is a limited issue account and you can only have one version of a Regular Saver at a time.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

With regards to Coventry - One version of a Regular Saver at a time.  Seems a bit sloppily worded, as I reads to me that one of an Issue 3, and one of an Issue 4 is perfectly acceptable, but its not clear, as I can see others interpreting it as one version of any Regular Saver.

"you can only have one version of a Regular Saver"

If only they'd used the word "issue" where they've used the word "version". ...

cricidmuslibale

schiff said:

cricidmuslibale said:

I hope the new Coventry Regular Saver is still available in mid December; I'm not going to open one before then simply because I won't be able to make the maximum monthly deposit allowed on the day of opening if I do.

I've opened mine today and I have till 26/12 to make my first deposit. I'm aiming to deposit next week. Suggest you take action today, at the rate these new accounts are being withdrawn it pays to act fast.

Thank you for your clearly well-meant advice to act now rather than a little later on!  I'm going by Coventry's past history that all 3 previous Regular Savers have been available for at least a couple of months before being withdrawn. Having only just launched version 4 on a Friday at the end of November so that many who may be interested in this account will not find out about it until the very end of this month / start of December, and with the 1.3% variable interest rate not being particularly high (for a variable rate esp.), I wouldn't expect there to be such a mad rush for this Regular Saver that Coventry would have to withdraw it before Christmas. After all that would come across as rather mean and Scrooge-like in this coming season of goodwill to all men!

typistretired

Not these days could be withdrawn by Monday if they receive the amount of applications they want

cricidmuslibale

typistretired said:

Not these days could be withdrawn by Monday if they receive the amount of applications they want

I'm going to have to take my chances that it won't be. Ironically if I hadn't just deposited more than the max. monthly deposit (£500) for this Regular Saver only two days ago into a version of Coventry's now withdrawn Double Access Saver then I would definitely be applying for this new version of the Regular Saver today! I'm now a little cross with myself for depositing my very recently withdrawn NS&I money in the Coventry Double Access Saver on the first day possible for this (25th Nov) rather than keeping it in my current account for a few days to await developments on the saving front! Ideally I would like to keep my two possible withdrawals (without being charged) from the Double Access Saver in hand for the time being because the present interest rate I'm getting (1.09% monthly) is not going to last forever; it will almost certainly be reduced if the B of E cuts its base rate again soon.

arsenalboy

tired said:

Not these days could be withdrawn by Monday if they receive the amount of applications they want

I'm going to have to take my chances that it won't be. Ironically if I hadn't just deposited more than the max. monthly deposit (£500) for this Regular Saver only two days ago into a version of Coventry's now withdrawn Double Access Saver then I would definitely be applying for this new version of the Regular Saver today! I'm now a little cross with myself for depositing my very recently withdrawn NS&I money in the Coventry Double Access Saver on the first day possible for this (25th Nov) rather than keeping it in my current account for a few days to await developments on the saving front! Ideally I would like to keep my two possible withdrawals (without being charged) from the Double Access Saver in hand for the time being because the present interest rate I'm getting (1.09% monthly) is not going to last forever; it will almost certainly be reduced if the B of E cuts its base rate again soon.

Why don't you just accept the advice rather than arguing against it?
You can open it now with a minimum deposit.
It might be withdrawn as people chase dwindling rates.

cricidmuslibale

arsenalboy said:

tired said:

Not these days could be withdrawn by Monday if they receive the amount of applications they want

I'm going to have to take my chances that it won't be. Ironically if I hadn't just deposited more than the max. monthly deposit (£500) for this Regular Saver only two days ago into a version of Coventry's now withdrawn Double Access Saver then I would definitely be applying for this new version of the Regular Saver today! I'm now a little cross with myself for depositing my very recently withdrawn NS&I money in the Coventry Double Access Saver on the first day possible for this (25th Nov) rather than keeping it in my current account for a few days to await developments on the saving front! Ideally I would like to keep my two possible withdrawals (without being charged) from the Double Access Saver in hand for the time being because the present interest rate I'm getting (1.09% monthly) is not going to last forever; it will almost certainly be reduced if the B of E cuts its base rate again soon.

Why don't you just accept the advice rather than arguing against it?
You can open it now with a minimum deposit.
It might be withdrawn as people chase dwindling rates.

It's very good advice for most and I'm not actually arguing against it but my post above (if read carefully enough) explains why I'm taking a different approach. Also I always prefer to deposit the maximum monthly amount permitted for a particular Regular Saver on the very day I open it and then to fund it similarly exactly a month later and then the month after that and so on. That is until I run out of available funds of course; then I will probably just deposit the minimum amount required each month to keep that particular Regular saver open. 

isasmurf

surreysaver said:

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
This is a limited issue account and you can only have one version of a Regular Saver at a time.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

With regards to Coventry - One version of a Regular Saver at a time.  Seems a bit sloppily worded, as I reads to me that one of an Issue 3, and one of an Issue 4 is perfectly acceptable, but its not clear, as I can see others interpreting it as one version of any Regular Saver.

The wording seems different to previous regular savers referring only to holding one issue 4, implying you can hold it with other issues

"This is a limited issue account and you can only have one Regular Saver (4) at a time."

margaretx9

isasmurf said:

surreysaver said:

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
This is a limited issue account and you can only have one version of a Regular Saver at a time.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

With regards to Coventry - One version of a Regular Saver at a time.  Seems a bit sloppily worded, as I reads to me that one of an Issue 3, and one of an Issue 4 is perfectly acceptable, but its not clear, as I can see others interpreting it as one version of any Regular Saver.

The wording seems different to previous regular savers referring only to holding one issue 4, implying you can hold it with other issues

"This is a limited issue account and you can only have one Regular Saver (4) at a time."

When you click the apply online button it brings you to a page which contains the specific regular saver (4) terms and conditions.
Para 1.5 states "You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."

So seems you cannot open this new regular saver if you already have an exisiting open Coventry regular saver.

schiff

Well they've not been operating that condition when people have opened two or three RSs with the Coventry, as many of us can attest.