Regular Savings Accounts: The Best Currently Available List!

cricidmuslibale

someone said:

P3 said:

Use this as a example to see who's right

£18,137.23 (based on 12 monthly deposits of £1,500, the first being made at account opening and the remaining 11 on the same day each calendar month).

Month 1 - Pay In £1,500 - Balance £1,500 - Rate 0.80% - Interest (1/12) £1.00
Month 2 - Pay In £1,500 - Balance £3,000 - Rate 1.00% - Interest (1/12) £2.50
Month 3 - Pay In £1,500 - Balance £4,500 - Rate 1.00% - Interest (1/12) £3.75
Month 4 - Pay In £1,500 - Balance £6,000 - Rate 1.00% - Interest (1/12) £5.00
Month 5 - Pay In £1,500 - Balance £7,500 - Rate 1.00% - Interest (1/12) £6.25
Month 6 - Pay In £1,500 - Balance £9,000 - Rate 1.50% - Interest (1/12) £11.25
Month 7 - Pay In £1,500 - Balance £10,500 - Rate 1.50% - Interest (1/12) £13.13
Month 8 - Pay In £1,500 - Balance £12,000 - Rate 1.50% - Interest (1/12) £15.00
Month 9 - Pay In £1,500 - Balance £13,500 - Rate 1.50% - Interest (1/12) £16.88
Month 10 - Pay In £1,500 - Balance £15,000 - Rate 1.50% - Interest (1/12) £18.75
Month 11 - Pay In £1,500 - Balance £16,500 - Rate 1.50% - Interest (1/12) £20.63
Month 12 - Pay In £1,500 - Balance £18,000 - Rate 1.50% - Interest (1/12) £22.50

Total for Year 1 = £136.64 (£0.59 less than advertised, I assume because I've done the rate at 1/12 monthly but not worth the time finding out why)

The interest amounts earned each month above are approx. correct but not exactly so. The exact amount will depend on the no. of days in that particular month i.e. after the 1st month with interest at (no. of days in that month/365 x 0.8%) you get a day's extra interest for a 31 day month (31/365 x 1% or 1.5%) compared to that earned in a 30 day month (30/365 x 1% or 1.5%) and obviously for February each year other than a leap year you will earn 28/365 x 1% or 1.5%. 

where_are_we

I successfully opened the first VHCBRS direct via a search link without using the app and it seems to be OK so far (Verdict - easy). For the VHCBRS3 I decided to use the app, going through numerous links, getting 100 points, viewing my free experian credit score and I viewing the Virgin savings accounts (Verdict - a pain) . I thought there would be a link to or mention of the VHCBRS3 but bizarrely I found nothing. Do I now just go to a search link for the VHCBRS3 like I did the first time?

Gers

where_are_we said:

Do I now just go to a search link for the VHCBRS3 like I did the first time?

https://uk.virginmoney.com/savings/products/home_buying_coach_regular_saver

MDMD

where_are_we said:

Do I now just go to a search link for the VHCBRS3 like I did the first time?

If you want to do it 100% properly, click on this button in the app:

Then on this:

Then finally on “Great, let’s go” (if you have 100 or more credits)

Nuggy96

Any ideas if you can have a sole and joint home buyer reg saver?

where_are_we

MDMD said:

where_are_we said:

Do I now just go to a search link for the VHCBRS3 like I did the first time?

If you want to do it 100% properly, click on this button in the app:

Then on this:

Then finally on “Great, let’s go” (if you have 100 or more credits)

Eventually got to 285 credits, 100%, you are all done! Got it! You have to tap on this "picture" then follow the links to open the savings account. Having reached the "apply now" page does it matter if I do it on the phone or on my computer via the search link? Do you get contacted about anything after inputting lots of "data"?

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

Many thanks to all the people who contributed useful posts on regular savings account changes on this thread. For anybody who wants information on regular saver accounts that do not meet the criteria for inclusion on this thread, they are welcome to use the links in my introductory posts to some comparison website pages that have even more accounts.

Here are the changes for this thread this week.

• Bucks BS Regular Saver Locals interest rate dropping from 1.2% to 1% from 1st February

• Virgin Money Home Buying Coach Regular Saver issue 2 replaced with issue 3 still paying 1.75% on up to £250 per month, now expiring 20th February 2022 (issue 2 expires 20th December 2021) but you can only hold one of these accounts (not one account per issue) – like all the other entries on page 1 of this thread, the title includes a link that takes you to the right website page as I understand it is difficult to find on their website

• Monmouthshire BS Christmas Saver withdrawn

• Principality BS Thank You Saver interest rate reduced from 1.65% to 1.4%

• Principality BS 1 Year Regular Saver issue 23 replaced with issue 24 paying 1% on up to £250 for 1 year

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
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

cricidmuslibale

With the recent release of Principality's Regular Saver Bond Issue 24 we now have yet another regular savings account offering 1% interest for 1 year!  A quick trawl through all the regular savers currently listed on Moneyfacts clearly shows that 1% for 1 year is now by far the most common return available and, for me at least, the concerning thing is that nearly all generally available (i.e. those not with restricted access) regular savers will soon be offering at most a return of 1% for 1 year and in some cases considerably less than this!  Am I right to be concerned about this, and do you think that we are about to reach the low point for regular savings interest rates or, worse still, are these interest rates likely to slide further downwards towards 0.5% for 1 year or, heaven forbid, even lower than this!?  

P3

I certainly believe 1% are now the norm for RS.
Pretty much all the best RS bank who were offering 2%+ before are now only offering 1%.
I got the list written down. if(hopefully never)/when my easy access drop below 1%, I will open them
FD, HALIFAX, BOS, HSBC, TSB, LLOYDS, NATIONWIDE. 

veryintrigued

Special_Saver2 said:

Hi Folks,

Here is this weekend's update to this thread.

Many thanks to all the people who contributed useful posts on regular savings account changes on this thread. For anybody who wants information on regular saver accounts that do not meet the criteria for inclusion on this thread, they are welcome to use the links in my introductory posts to some comparison website pages that have even more accounts.

Here are the changes for this thread this week.

• Bucks BS Regular Saver Locals interest rate dropping from 1.2% to 1% from 1st February

• Virgin Money Home Buying Coach Regular Saver issue 2 replaced with issue 3 still paying 1.75% on up to £250 per month, now expiring 20th February 2022 (issue 2 expires 20th December 2021) but you can only hold one of these accounts (not one account per issue) – like all the other entries on page 1 of this thread, the title includes a link that takes you to the right website page as I understand it is difficult to find on their website

• Monmouthshire BS Christmas Saver withdrawn

• Principality BS Thank You Saver interest rate reduced from 1.65% to 1.4%

• Principality BS 1 Year Regular Saver issue 23 replaced with issue 24 paying 1% on up to £250 for 1 year

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
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Hi SS2 

I think:

The Principality Thank You are two new RS accounts (ver 2 & 3) both with a postcode restriction.

With the original rate on ver 1 remaining the same as previously (but withdrawn).

Thanks for your hard work and patience with this thread.

I can't tell you how much I appreciate it.