Regular Savings Accounts: The Best Currently Available List!

Nick_C

colsten said:

Nick_C said

But it takes two working days to clear.  Which is why I suggest depositing in an instant access account, then transferring it across on the first of the month.

I've got an old IASA which is paying 0.3% on £1

Surely it takes 2 days to clear init your instant access account, too?

Yes. Of course.  But

1) some people struggle for ideas to meet the £500 monthly spend on a Debit Card to qualify for the monthly £5 Halifax Reward.

2) it takes a day for a debit card transaction to be applied to most current accounts, so you only lose one day's interest if you are feeding from a current account that pays interest. 

3)  my strategy has allowed me to fund my YBS LRS account today, instead of on Tuesday.  Would a FP into YBS have credited today?  I don't know. Others will be able to answer that.

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

- Nationwide BS Start to Save account entry updated as I made a typographical error (I had meant to type you could pay in £100 per month, not £1,000 per month!) - it would have been an amazing account if it had allowed that much to be paid in!

I cannot see anything else to change for this week.

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

typistretired

Faster payment today was showing as credited 1st May in YBS regular saver. 

soulsaver

My comment was for info. but my DC payment shows credited also on 1st. 

Nick_C

soulsaver said:

My comment was for info. but my DC payment shows credited also on 1st. 

It will show as credited on the first, but it won't start earning interest until Wednesday 5th, once two working days have passed and the credit has cleared.

A FP, or a transfer from another YBS account, should start earning interest from the date of deposit. 

colsten

typistretired said:

Faster payment today was showing as credited 1st May in YBS regular saver. 

FPs are indeed credited by YBS immediately on a 24x7 basis, and are earning interest from the same day. Standing orders are processed as faster payments but most banks only process outgoing SOs on working days. This shouldn't be a major issue as there are generally just 2 or 3 months a year where the 1st is not a working day.


From the YBS General T&Cs:

Special_Saver2

Hi Everybody,

Here is this weekend's update to this thread.

- Terms and conditions on Bath Homestart Regular Saver (for locals aged 18-34) account updated

I cannot see anything else to change for this week.

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

SA100

Was chucking out some paperwork from my Grandmothers house and found her 10% HSBC Reg Saver. It was mid-2000's.  Oh, how I wish I was saving then.  Currently nearing the end of my 2.75% HSBC/FD Saver.  Will be sticking everything in Premium bonds at renewal. 

colsten

SA100 said:

Was chucking out some paperwork from my Grandmothers house and found her 10% HSBC Reg Saver. It was mid-2000's.  Oh, how I wish I was saving then.  Currently nearing the end of my 2.75% HSBC/FD Saver.  Will be sticking everything in Premium bonds at renewal. 

What was inflation then, what is it now?

glider3560

Special_Saver2 said:

Bath BS Homestart Regular Saver

Interest rate: 1.15% gross p.a. variable
Monthly payment: £50-£250
Miss any payments: Yes, as long as you do not miss payments for two consecutive months
Penalty-free withdrawals: Yes, you can make two withdrawal per calendar year
Age of applicant: Aged 18-34
How to open account: Branch or post
Special conditions: Maximum balance £57,000. Payments from other Bath BS accounts are not allowed. You must be able to prove that you live, work or study in Bath.

For the Bath Homestart Regular Saver, there is no locality requirement (it's the only one of their RSs that don't have this).  I just opened one last week as a new member and don't live or work anywhere near Bath.