Regular Savings Accounts: The Best Currently Available List!

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.

Snapdragon

Notepad_Phil said:

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.

I think kaMelo is correctly basing that on the terms of the account which state:

• For balances eligible for the higher tier rate of interest, the higher rate applies to the whole balance

Daliah

Notepad_Phil said:

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.

You misunderstand. @kaMelo is right, as confirmed on the Principality website: For balances eligible for the higher rates of interest, the higher rate will apply to the total amount of money in the account when that day’s interest is accrued.

[Deleted User]

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.

It was posted but forgotten about. I posted it again in another thread as well. It is a good account. 

cosh25

For those near a Newcastle BS branch. They have launched an Issue 2 of their branch based reg saver. All the same terms as Issue 1, just with a new maturity date in Nov 2022. Had a quick glance and can’t see anything indicating you can’t hold one of each issue, but haven’t had a chance to read the full T&C’s yet.
https://www.newcastle.co.uk/savings/regular-saver/newcastle-fixed-regular-saver-(issue-2)/

creditavenger

I've just checked the Newcastle BS Product Special Conditions for their branch based regular saver and they state
"You may only hold one Newcastle Fixed Regular Saver account per customer."

https://www.newcastle.co.uk/NewcastleBuildingSociety/media/Documents/Savings - product terms/September 2021/Newcastle-Fixed-Regular-Saver-(Issue-2).pdf

So sadly it looks as if opening an issue 2 when you already hold an issue 1 may not be allowed.

castle96

try it !,,,,,,,

Every_Penny_Counts

Re Leek RS. 

Has anyone managed a 13th payment into it? Mine matures mid November so I could make another payment on Nov 1st. 

Cheers
EPC

where_are_we

Deleted_User 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.

It was posted but forgotten about. I posted it again in another thread as well. It is a good account. 

Remember you are not eligible for this account if you are a home owner or have owned a home previously. 

Every_Penny_Counts

Excellent!  Thank you.