Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Everybody,

I have just done this weekend's update. 

I cannot see anything that has changed in the last 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

Daliah

@Special_Saver2, did you overlook the two Darlington young people accounts? 

schiff

Leek BS RS
Some news about the pending maturity of their 1.10% variable RS (mine matures 4/11).
There is no new RS available per the website but from a conversation with a MOS this morning - Provided you withdraw the balance at maturity, you can continue saving under the same conditions. The downside with the Leek is that you have to see it through to maturity, no withdrawals. 1.10% is a bit basic for a RS, though hopefully someone at Leek may come up with a members only type continuation at a higher rate before the letters are issued. 
I am expecting RS interest rates to move up slightly and having several thou stuck in a no withdrawal account is not enticing. Maybe smaller monthly deposits to keep it ticking over?

schiff

Leek BS
I've emailed my suggestion for the follow on RS for the attention of the board. 

refluxer

schiff said:

Leek BS RS
Some news about the pending maturity of their 1.10% variable RS (mine matures 4/11).
There is no new RS available per the website but from a conversation with a MOS this morning - Provided you withdraw the balance at maturity, you can continue saving under the same conditions. The downside with the Leek is that you have to see it through to maturity, no withdrawals. 1.10% is a bit basic for a RS, though hopefully someone at Leek may come up with a members only type continuation at a higher rate before the letters are issued. 
I am expecting RS interest rates to move up slightly and having several thou stuck in a no withdrawal account is not enticing. Maybe smaller monthly deposits to keep it ticking over?

I was told the same while at a branch updating my passbook, recently. The draw for me for that account was the £1000 upper limit which was (and still is) quite rare, I think. The rate was actually a little higher than that prior to you opening yours - somewhere around 1.3%, IIRC. The rate dropped while I was mulling it over !

Mine was taken out around the same time - when interest rates were only heading downwards - so a fixed rate was desirable. With them starting to creep back up, I guess we'll have to see what the new rate is but there is always the option of a lower monthly contribution as a form of damage limitation if needed, as you say. It doesn't seem that long ago that a fixed rate RS was considered an advantage, not a (potential) disadvantage 

schiff

Leek BS
I managed £1000 before the reduction from 1.35% (from 2.12.20) so I moved to several months depositing nothing.

dcs34

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/first-home-steps-account

Apologies if already posted, could not locate it on the front page.

1.5% on £1,500 per month, but note balance will need to be in excess of £7,500 to earn the full interest rate.

kaMelo

dcs34 said:

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/first-home-steps-account

Apologies if already posted, could not locate it on the front page.

1.5% on £1,500 per month, but note balance will need to be in excess of £7,500 to earn the full interest rate.

And best if opened near the end of the month as you can then pay in the next months payment a couple of days later. You only have a couple of days at 0,8%.  Then, assuming you've paid in £2,500,  it's 1% on the entire balance up until you breach £7,500 when it becomes 1.5%.

P3

Not new at all, I opened online version beginning of the year (not allowed to have branch once I have online)

Notepad_Phil

kaMelo said:

dcs34 said:

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/first-home-steps-account

Apologies if already posted, could not locate it on the front page.

1.5% on £1,500 per month, but note balance will need to be in excess of £7,500 to earn the full interest rate.

And best if opened near the end of the month as you can then pay in the next months payment a couple of days later. You only have a couple of days at 0,8%.  Then, assuming you've paid in £2,500,  it's 1% on the entire balance up until you breach £7,500 when it becomes 1.5%.

I don't have the First Home Steps account myself, but I thought the interest rates were tiered, so on £7,500 you'd only get 0.8% on the first £2,500 with the 1% on the next £5,000 rather than 1% on the full £7,500.