Regular Savings Accounts: The Best Currently Available List!

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.

cricidmuslibale

The last day or two before Christmas seems to be a good time (for savings providers) to bury bad news! (the pulling of reasonable interest rate savings accounts). I suspect they (the savings providers doing this) hope not too many people will notice this is happening until the New Year.

castle96

Virgin Man U easy access down from 1.01 to 0.51 (yesterday)

dcs34

For Saffron, it says you can only open the regular saver issue 8 if you are a member (i.e. hold an account). But presumably you shouldn't open issue 8 until issue 7 has matured. So at that point are you still a member? Do you have to open the new one at the exact day of maturity? Or does it not really matter (seeing as you can actually open multiple issues at once, will they actually have a way of checking membership etc.)

RG2015

JamesRobinson48 said:

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.

Withdrawn today.

https://uk.virginmoney.com/savings/helpful-information/find-your-interest-rate/

Choose previously offered, then online, then e-saver and it's about 15 from the bottom of the list. Effective 18/12/20 withdrawn 23/12/20.