Regular Savings Accounts: The Best Currently Available List!

Every_Penny_Counts

That section is a little confusing but the first part is clearer...

”  Your month starts on the day you opened the account. For example, if you opened the account on 25 January you’d have from 25 January to 24 February to pay in your first month’s allowance. Your second month would start on 25 February.”

So basically, you can pay in each month on the same date that you opened it.  In your case the 3rd. 

EPC

kaMelo

You can add multiple deposits within the monthly anniversary as long as it doesn't go over £500.
Any deposit that takes you over £500 within that monthly anniversary will bounce back. 
As you have already reached £500 for the current month the earliest you can add to it is the anniversary date which in your case is the 3rd.

rhodesmjr

Great! I thought it was the 3rd. Getting in a muddle over such a basic statement, doh. Thankyou for your reply!

dcs34

Essentially its saying that, as it may take a few days for payments to go through, if you pay it in on the 1st for Month 1 it might not actually appear until the 3rd, i.e. Month 2, and you'll have missed the boat on Month 1.

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

The following regular savings accounts have been withdrawn:
- Scottish BS Regular Saver
- Mansfield BS Regular Savings (Issue 4)
- Saffron BS 12 Month Fixed Rate Regular Saver (Issue 5) 

I will do the next update next weekend.
SS2

---

For those new to this thread, the first few posts are constantly updated and are on the first page

typistretired

Coventry Building Society I have just seen this on their web site

Closed products.pdf

Rate Change Notice

In Summary On Wednesday 11 March 2020, the Bank of England announced that the Bank Base Rate (BBR) was reducing by 0.50%, from 0.75% down to 0.25%. Then, on Thursday 19 March 2020, there was a second announcement that the BBR was being reduced again by a further 0.15%, down to 0.10%. Savings In response to the first BBR announcement on Wednesday 11 March 2020, we’re reducing some of our variable rate savings accounts effective either 10 April 2020 or 26 May 2020 (changes detailed below). We continue to review the rates paid on all variable rate savings accounts in response to the overall 0.65% reduction in BBR.

I am just showing the regular saver.

Current rate                                                       New rate effective 10 April 2020

Regular Savings Account 2.20%                   2.05%

But I have not been informed of the reduction from 2.50% to 2.20% yet never mind the reduction to 2.05% on 10th April 2020.
Any other member been informed?

dcs34

typistretired said:

Coventry Building Society I have just seen this on their web site

Closed products.pdf

Rate Change Notice

In Summary On Wednesday 11 March 2020, the Bank of England announced that the Bank Base Rate (BBR) was reducing by 0.50%, from 0.75% down to 0.25%. Then, on Thursday 19 March 2020, there was a second announcement that the BBR was being reduced again by a further 0.15%, down to 0.10%. Savings In response to the first BBR announcement on Wednesday 11 March 2020, we’re reducing some of our variable rate savings accounts effective either 10 April 2020 or 26 May 2020 (changes detailed below). We continue to review the rates paid on all variable rate savings accounts in response to the overall 0.65% reduction in BBR.

I am just showing the regular saver.

Current rate                                                       New rate effective 10 April 2020

Regular Savings Account 2.20%                   2.05%

But I have not been informed of the reduction from 2.50% to 2.20% yet never mind the reduction to 2.05% on 10th April 2020.
Any other member been informed?

Going direct for Issue 2 still shows a rate of 2.5%:

https://www.coventrybuildingsociety.co.uk/consumer/savings-accounts/Regular-Saver.html

Also, my paperwork shows the 2.5% account as a 'Regular Saver' rather than a 'Regular savings' account, perhaps they're talking about two different accounts?

Moreover, their FAQ on it says all customers affected will be told no later than 27th March 2020. I haven't had an email, I'm sure they'll be sending letters out dated with Friday's date on them but still, bit iffy. The PDF that opens is titled 'closed products' so perhaps it is only these products that are affected?

typistretired

Yes I know and my accounts are still showing at 2.50%.  I received letter from them yesterday about another account with them being reduced but nothing about the regular savers.  

afis1904

Coventry do love sending out letters so we'll probably all find out next week

colsten

AFAIK, the Coventry Regular Savings Account is an old account that has been going for years (no maturity), and has been closed for new applications for a long time, probably years. It is not to be confused with the Regular Saver (Issue 1) or Regular Saver (Issue 2). Fingers xed they won't cut these just yet, as HSBC, M&S, FD and Lloyds have fixed rate RS accounts paying at least 2.5%