Regular Savings Accounts: The Best Currently Available List!

progressive_uk

dcs34 said:

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.)

See Pg 218 of this thread - Over62 reports that he had no open accounts for some months and was able to open Issue 8 of the RS.  If you are concerned, you could open an easy access account and fund with a nominal amount to maintain an open account at all times.

wiseonesomeofthetime

progressive_uk said:

 If you are concerned, you could open an easy access account and fund with a nominal amount to maintain an open account at all times.

This is exactly what I have done in possible preparation for next year.

The Loyalty RS, I believe, requires a membership of at least 12 months.

If I don't need it, no issue, my tenner is still currently earning 0.50% 😁

Fingerbobs

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.

Annoying. I'm not too fussed over 1%, but it was fixed, instant-access and handily ticked off January 2022 (I like to have at least one RS account maturing every calendar month).

schiff

dcs34 said:

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.)

Per CS today, you can phone, give instructions to start a new RS with up to £500 from the maturing RS and have the balance sent to your nominated account. There isn't at the moment a facility online to open the new RS at the same time as closure, which is a pity as it was always seamless with the same pass-book etc in the past; only to withdraw to the nominated account - which would involve starting the new one from scratch.
Incidentally if you take an easy way out and let the matured funds go into the EA account, be warned - they they don't do FPs from the EA account! So not as 'easy' as all that!
There is an irony in their e-mail which they describe as helping them 'to reduce paper waste'. When I went to print off the four (out of 19!) pages in the instructions that were all I needed, I was faced with printing the lot - reducing my waste by minus 15 pages. (It may be a fault with my printer though).

P3

RG2015 said:

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.

I think it's fair to say since they withdraw this after a few day compare to previous issue, the next issue will not be 1%

Hexane

DragonQ said:

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.

Surely not - I heard reliable rumours that investing in stocks and shares is a bad idea unless one can wait for at least 10 to 15 years. Not 3!

MDMD

P3 said:

RG2015 said:

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.

I think it's fair to say since they withdraw this after a few day compare to previous issue, the next issue will not be 1%

I just wonder why they didn’t make this decision before they released issue 20. Would have saved them a load of admin time as presumably someone has to sign off on the release of each issue.

Maybe it will come back at a higher rate!  

DragonQ

Hexane said:

Surely not - I heard reliable rumours that investing in stocks and shares is a bad idea unless one can wait for at least 10 to 15 years. Not 3!

Heh, depends what the competition is I suppose. When there were plenty of regular savers at 5+% and bank accounts at 3+% there was less point going for S&S for shorter terms. Now things are different.

I have a 3-year P2P loan maturing next year which is at 6.1%. Not a good idea to put all money in one place though so spreading between pension, S&S, savings accounts, property/physical assets, and P2P is the best idea IMO.

Eco_Miser

DragonQ said:

Hexane said:

Surely not - I heard reliable rumours that investing in stocks and shares is a bad idea unless one can wait for at least 10 to 15 years. Not 3!

Heh, depends what the competition is I suppose. When there were plenty of regular savers at 5+% and bank accounts at 3+% there was less point going for S&S for shorter terms. Now things are different.

Yes, but you can't lose (nominally) in deposit accounts (up to £85k), while S&S can and does go down as well as up. Over just three years the downs may be greater than the ups.

Special_Saver2

Hi Everybody,

Here is this weekend's update to this thread.

- Furness BS 3 Year Regular Saver withdrawn - Virgin Money Regular E-Saver (Issue 20) withdrawn

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1