Regular Savings Accounts: The Best Currently Available List!

dekkard

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.

• "Open in branch or at an agency"
  

What is an agency?

10_66

dekkard 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.

• "Open in branch or at an agency"
  

What is an agency?

Typically, it used to be places like an insurance broker (or business like that) that would have a member of staff there to operate within its premises on a building society's behalf.

Purpleheart

creditavenger said:

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.

I've got more than one RS with Newcastle BS and an appointment to open Issue 2, I think it may just be badly worded. (I hope so anyway!)

apt

It is specifically the fixed regular saver that you can't have more than one of. Nothing to stop you having different Newcastle BS regular savers in addition.

Purpleheart

apt said:

It is specifically the fixed regular saver that you can't have more than one of. Nothing to stop you having different Newcastle BS regular savers in addition.

I have Issue 1 of the fixed RS, I'm hoping I can open an Issue 2, appointment is next week so I will find out then. 

schiff

Principality BS
Letter came today about the Issue 23 RS maturing later this month. Covering letter was encouraging 'Exclusive maturity accounts for our Members' but it turned out to be the same old, same old 1.00% fixed. £250 per month, no withdrawals.
I found it disappointing.   

schiff

Principality BS

There is an offer of an account entitled 'First Home Steps Online'. £1500 per calendar month; three withdrawals per calendar year (so there seems to be no tie-in to the property purchase); maximum term 5 years; closure permitted. Interest rate (all variable) increases as the balance increases (I assume on the Club Lloyds current account principle):  

Up to £2500 - 0.80%
£2500-£7500 - 1.00%
£7500-£25000 (max) - 1.50%

So it takes five months to get to the 1.50% and you're stuck with £2500 at 0.80% and £5000 at 1.00% for as long as it lasts, which reduces the attraction a bit.

The highlighted bit is not correct 

castle96

"

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

P3

Is this rule new??????


Opening your account

To open your account you must be 16 or over and a permanent resident in the UK. The regular saver can only be opened as a single account. This product is limited to one account per person. Any additional accounts will be closed, with the original account remaining open.



Furness BS 1 Year Regular Saver

Interest rate: 1% gross p.a. variable

Monthly payment: £1-£250 (£4 - £1,000 if you open 4 accounts)

Miss any payments: Must not miss any monthly payments

Penalty-free withdrawals: Yes, one per year.

Age of applicant: Age 16 and over

How to open account: Branch and post

Special conditions: The terms and conditions say there is no limit to the number of accounts you can open but in practice forum users on page 289 of this forum report you can open up to 4 accounts

[Deleted User]

Loughborough Building Society Flexible Save to Buy account: Interim report

I opened this in May 2019 when the rate was 3% pa. This reduced to 1.5% in September 2020. I've been paying in the maximum of £500 each month since opening.  Balance (net of interest added) now stands at £15,000. Last interest added (23 Sep 2021) was £177 (year to then). I can carry on saving until the balance reaches £24,000 (net of interest, I think) which might be May 2023. Account still available to open. You don't need to be a first-time buyer or promise to use the funds for a house deposit. Main drawback is that there is no online access to see your account. You have to trust that your SO's are reaching the account (but very easy to get a balance by phoning Loughborough and can post in passbook for updating anytime: very quickly returned). I'm happy so far.

Edited to add: I should have checked first: account no longer available. But they do have a Regular saver paying 0.85% on £500 max per months.