Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

I have just done this weekend's update. 

- Principality BS First Home Steps Savings (Issue 2) added paying 0.8% - 1.5% pa variable interest depending on your balance on a maximum balance of £25,000 with a maximum payment of £1,500 per month, open in branch or agency only

- Newcastle Fixed Regular Saver (Issue 1) replaced with issue 2 - still paying 2% but the maturity date changed from 23rd September 2022 to 7th November 2022

- Furness BS 1 Year Regular Saver account removed from the list as the terms and conditions have changed again so now you can only open one account (rather than 4 accounts) paying in £250 per month (rather than £1,000 per month in total) and so it no longer qualifies to be good enough according to the criteria in page 1 in order to make it on to the list on page 1 of this thread

- Darlington BS Teen Goal Saver added paying 2% variable until the child's 18th birthday on up to £600 per month (assuming you open 3 accounts, which the terms and conditions say you can), locals or existing customers only, they can stop further deposits being made to this account if the account is withdrawn

- Darlington BS Darly Young Saver added paying 1.5% variable until the child's 18th birthday on up to £100 per month (you can only open one account per person), locals or existing customers only, they can stop further deposits being made to this account if the account is withdrawn

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

Chadsman

Re Newcastle BSoc Fixed Regular Saver
I had an appointment this morning to open issue 2 already holding issue 1 of the account.
No dice
You can only have a grand total of one Fixed Regular Saver account across all issues at any one time.

JamesRobinson48

There's a new RS out from TSB today. The interest rate is 2.00% fixed, but the max monthly contribution is only £125.

https://www.tsb.co.uk/savings/monthly-saver/?WT.ac=A00428

trickydicky14

TSB monthly saver, max £125 @ 2%
Is this new news?
First time I have seen it.
What happens if you have one currently running at only 1%.

RG2015

trickydicky14 said:

TSB monthly saver, max £125 @ 2%
Is this new news?
First time I have seen it.
What happens if you have one currently running at only 1%.

You cannot hold more than one monthly saver. I guess TSB need some new customers as well as new money.


https://www.tsb.co.uk/savings/monthly-saver-terms-and-conditions.pdf

ps. Their example shows interest of £14, although paying in on the first of the month should get you £16.

I have not taken out new HSBC, First Direct or Coventry RS accounts in the hope of an increase in the rate.

[Deleted User]

where_are_we said:

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. 

I am aware of that, however no check has been made. I don't own a home. (this is in regards to the principality building society home saver account.

Wow that TSB account above brings £14 in total! of interest!

principality still available online 

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-Online

First Home Steps Online (Annual - Tier 1)	£1 - £2,500	0.80%	0.80% (variable)
	First Home Steps Online (Annual - Tier 2)	£2,501 - £7,500	1.00%	1.00% (variable)
	First Home Steps Online (Annual - Tier 3)	£7,501 - £25,000	1.50%	1.50% (variable)

trickydicky14

T&C say you can close an account at any time, so if I closed my current RS I could then open a new one?
The thing is, would I get interest on the six months the old one has been running?

takke

trickydicky14 said:

T&C say you can close an account at any time, so if I closed my current RS I could then open a new one?
The thing is, would I get interest on the six months the old one has been running?

From the terms on TSB’s website:

• If you close your Monthly Saver before the end of the 12 month term, you won't be able to open another account before the first anniversary of this account

This term was there on the old version too. 

Nick_C

TSB Monthly Saver - 

Please note - you need to have a TSB current account to apply for a Monthly Saver

milton1970

Not sure it is worth the effort for £16.10 pa