Regular Savings Accounts: The Best Currently Available List!

quirkydeptless

someone said:

1882 said:

My available savings have dwindled due to putting them in numerous RS accounts and I find that I need to reduce my monthly payments somewhat. It's not clear if some of these accounts require a monthly payment.
Virgin Money and Principality don't seem to but Monmouthshire BS and Coventry BS aren't so clear although I suspect none of them insist. Anybody know for sure?

I shall of course take into account the varying interest rates before deciding what to do as the ones I use each month vary from 1.25% to 2.00%.

btw, I usually just drop them down to min payment so if situation changes the amounts can be increased again on the same Standing Order in online banking without the uncertainty of "did I set it up right" etc.

That's what I do, I like to be able to dial up/down my monthly regular save amounts.
At the moment, I've got my Regulars that are 1.75%+ at max, and everything below at minimum, or £1-£5 for those no minimum, just to see my SOs ticking over.
So I've got a bunch of 1.00%-1.55% at the ready to step up a gear when the cashflow is available.
Even though the current rates are poor, I have the system in place to at least beat Easy Access and have RS maturing regularly, and hopefully the happy times will return and my magic money tree will be able to flourish again 

Speedster2

eskbanker said:

where_are_we said:

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.

What's the legislation that mandates so much stuff being posted in hardcopy form, rather than, say, being published online and/or sent by request only?  It would seem that many of First Direct's competitors must be in breach....

Exactly my thoughts. When I applied online there could have been a step for me to View terms and conditions, key features etc etc. Have a tickbox to accept relevant warnings, job done!

JamesRobinson48

Virgin Money appears to have pulled its e-Regular Saver Issue 20, which was only released on 19th December!   Or at least, I can no longer find it on their website.

polymaff

https://uk.virginmoney.com/savings/savings-404/

DragonQ

JamesRobinson48 said:

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.

The accounts I listed are the only ones over 1.2% as far as I know (excluding ones requiring you to live in specific regions, etc.) and I have an instant access account paying 1.2%, so no point going for any others.

cricidmuslibale

DragonQ said:

JamesRobinson48 said:

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.

The accounts I listed are the only ones over 1.2% as far as I know (excluding ones requiring you to live in specific regions, etc.) and I have an instant access account paying 1.2%, so no point going for any others.

If I were you I would not assume that instant access account paying 1.2% is going to maintain that interest rate for very long before it is significantly reduced! There are in fact several Regular Savers currently available no matter where you live that are paying more than 1.2%, e.g. those by Coventry Building Society, Principality Building Society and Furness Building Society to name just three of them.

DragonQ

cricidmuslibale said:

If I were you I would not assume that instant access account paying 1.2% is going to maintain that interest rate for very long before it is significantly reduced! There are in fact several Regular Savers currently available no matter where you live that are paying more than 1.2%, e.g. those by Coventry Building Society, Principality Building Society and Furness Building Society to name just three of them.

I already have Principality and Coventry but I didn't realise Coventry's current rate was still above 1.2%, thanks for that. As for Furness, I'm not sure I can be arsed doing it by post or putting money away for 3 years at such a paltry rate! 1 year is more reasonable, anything beyond that might as well go into S&S.

MDMD

cricidmuslibale said:

DragonQ said:

JamesRobinson48 said:

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.

The accounts I listed are the only ones over 1.2% as far as I know (excluding ones requiring you to live in specific regions, etc.) and I have an instant access account paying 1.2%, so no point going for any others.

If I were you I would not assume that instant access account paying 1.2% is going to maintain that interest rate for very long before it is significantly reduced! There are in fact several Regular Savers currently available no matter where you live that are paying more than 1.2%, e.g. those by Coventry Building Society, Principality Building Society and Furness Building Society to name just three of them.

Although the Coventry account is also variable and I don’t think the Furness account is available anymore (I can’t find it anyway)

cricidmuslibale

Sorry I didn't realise the Furness account had been pulled if that is indeed the case. Yes the Coventry account has a variable interest rate but Coventry tend only to reduce their interest rates on existing accounts following a Bank of England base rate reduction so it is still a reasonable option for now.

MDMD

I think they must have pulled the Furness 3 year account very recently - if you search on Google it comes up as a result but you get a page not found when you follow the link, and it’s not on the list of all accounts.

The link on page 1 of this thread also goes nowhere anymore.