Regular Savings Accounts: The Best Currently Available List!

polymaff

I also, where possible, use the 13th payment approach.  The auto-rollover approach is a good idea for many, though.

When describing this to HSBC, btw, I was so reminded of those Homer Simpson moments where someone is telling him something important:

wmb194

polymaff said:

MDMD said:

This is the anomaly compared to all the other LBG Regular Savers.

Over recent years, I've lobbied Halifax, Santander and HSBC to introduce the option of an auto-rollover mode. Only Santander understood the benefit it would deliver to both parties.  Halifax was (not invented here)  luke-warm, HSBC - glass-eyed. 

As you'd expect.

As regards LBG - just another example of how un-integrated NBG still is. ...

You'll be interested to know that for the first time in my experience Halifax's Kids' Regular Saver automatically rolled over this year. I assumed it was due to Covid and Halifax wanting to keep people away from its branches but another possibility is that it is a test. It'll be interesting too see whether it rolls again next year.

kaMelo

wmb194 said:

polymaff said:

MDMD said:

This is the anomaly compared to all the other LBG Regular Savers.

Over recent years, I've lobbied Halifax, Santander and HSBC to introduce the option of an auto-rollover mode. Only Santander understood the benefit it would deliver to both parties.  Halifax was (not invented here)  luke-warm, HSBC - glass-eyed. 

As you'd expect.

As regards LBG - just another example of how un-integrated NBG still is. ...

You'll be interested to know that for the first time in my experience Halifax's Kids' Regular Saver automatically rolled over this year. I assumed it was due to Covid and Halifax wanting to keep people away from its branches but another possibility is that it is a test. It'll be interesting too see whether it rolls again next year.

It always has rolled over, or at least it rolled over when we were using the children's regular saver around a decade ago.
Around a month before maturity a letter was sent asking what to do upon maturity. Upon maturity the funds were transferred from the regular saver into a new young saver account and the standing order continued sending money to a new regular saver for another year using the same account no and sort code 

karlie88

Re: Furness BS reg saver (closed issue, due to mature in Jan, paying 2.5%).
Due to the pandemic there will be an option of rolling it over (with full balance) into a new 12 month reg saver paying between 1.5%-1.7% (rate not confirmed yet). It will remain easy access and continue to allow £500/month pay-ins. Information obtained from Preston branch, probably best not to phone because they're busy. Letters to be sent out within the next 10 days. Very impressive.

schiff

Saffron
The maturity options are being sent out by e-mail apptly, I've had mine. The new one is 1.5% fixed! Max £500pm.

Archie_Duke

Daft amount of leaflets sent out for me to restart a RS, just for the sake of FD rolling over the details from the one they wrapped up in the same working week! Returning customers should be familiar with the basics of the account and just sent a link to read/ignore as they see fit. These are all going straight into the recycling. Hardly worth the effort of all of it really, for a maximum interest gain of £19.50.

where_are_we

Legally they have to send this stuff. It is one aspect of this "game" that I am unhappy with. Not good for the planet but keeps the postman in a job.

Bobblehat

karlie88 said:

Re: Furness BS reg saver (closed issue, due to mature in Jan, paying 2.5%).
Due to the pandemic there will be an option of rolling it over (with full balance) into a new 12 month reg saver paying between 1.5%-1.7% (rate not confirmed yet). It will remain easy access and continue to allow £500/month pay-ins. Information obtained from Preston branch, probably best not to phone because they're busy. Letters to be sent out within the next 10 days. Very impressive.

Got the letter this lunchtime. 1.6% is the rate, and you can even make a partial withdrawal on the rollover amount by phone. Closure forms included for those that do not want to take up their offer ...... I'll be recycling those!

What is not clear, is that an advert included with the letter, promoting the new 1.6% 1 Year Regular Saver (Issue 3), does not mention if the offer is only open to people who took out the branch-only RS last January. The website does not (yet?) mention the Issue 3 RS, so anyone interested could inquire if it's open to all or not. Of course, the really attractive part of the offer is that the 1.6% should be applied to the rollover amount plus any new monthly savings .... a nice earner for those who had the branch-only RS, but still OK if new savers are allowed to open it too. 

DragonQ

I have a whole raft of regular savers coming to an end over the next 3 months. Currently the only one worth renewing is Club Lloyds @ 1.5%. I have some others that last a bit longer (Virgin Money @ 2%, Principality Christmas Bond @ 1.5% and NatWest Digital Saver @ 3.04%) but otherwise the outlook is bleak. Even Moneyfarm have reneged on their promise to not charge me fees for the first £12k invested so I'll have to find a new home for that investment soon too.

Maybe we should all just be buying property....but I thought the government wanted to help the housing crisis, not make it worse? Hmm...

JamesRobinson48

DragonQ said:

I have a whole raft of regular savers coming to an end over the next 3 months. Currently the only one worth renewing is Club Lloyds @ 1.5%. I have some others that last a bit longer (Virgin Money @ 2%, Principality Christmas Bond @ 1.5% and NatWest Digital Saver @ 3.04%) but otherwise the outlook is bleak. 

Clearly the Regular Saver rates on offer today are lower than those on your maturing RS accounts. But let's remember that inflation is currently below 1%, and that there are still many available RS paying in the 1.0-1.5% range.  

Of course diversification is important, and RS never made anyone rich. But IMHO (even at current market rates) having as part of one's portfolio a batch of RS accounts, ideally maturing evenly over the next year or more, provides a tolerable balance between liquidity, predictability and competitive financial return.