Regular Savings Accounts: The Best Currently Available List!

typistretired

My Virgin Regular Saver 20 matures Thursday last one of this type now only Home Buying Coach Regular Saver

veryintrigued

JamesRobinson48 said:

SFindlay said:

They do say you  can only hold 1 RS at a time and issue 23 runs until  December 2023 so that may prevent a few but the fact 23 couldn't be opened online probably put a lot of people off that may be attracted to this issue.

Well spotted about the new RS 24 from Leeds BS.  On a point of detail, I was able to open their RS 23 online, and did so on 9 December. 

Thanks for the info SFindlay.

I opened the 23 on the 9/12/21 too and going through the T&Cs you're spot on regarding the one RS restriction.

Absolutely zero room for misinterpretation here:

The account is limited to one account per customer (including joint accounts), and you may only hold one Leeds Building Society Regular Saver product at a time. If a second Regular Saver account is opened all funds in the second account will be transferred to the current instant access account available to new customers

where_are_we

typistretired said:

My Virgin Regular Saver 20 matures Thursday last one of this type now only Home Buying Coach Regular Saver

Thursday 20th January. End of an era. We must have had all of them. Every 2 months a new one, 14 payments possible and easy access. Question is, have Virgin finished with plain Regular Savers? Home Buying Coach Regular Saver is a niche product - it is not mentioned under it`s savings products.

bambilegs

SFindlay said:

Leeds BS have released issue 24 of their Regular saver and although may not immediately appear to fulfill criteria for your list SS2 it does have some interesting features that may appeal to those wanting to keep a few lower rates RS on back-burner with small monthly deposits to see where interest rates go.

It only pays 1% variable however runs for 2 years until January 2024, allows £250 per month (maximum £6000 over the term) but importantly allows 1 withdrawal (including closure) per year without notice or loss of interest so if rates do improve you can easily close the account. Also if they reduce the interest rate closure without loss of interest is also allowed even if already made the yearly deposit.

It's open to all UK residents and takes 5 minutes to open online (as opposed to issue 23 that was in branch or by post) so no harm in opening one. 

They do say you  can only hold 1 RS at a time and issue 23 runs until  December 2023 so that may prevent a few but the fact 23 couldn't be opened online probably put a lot of people off that may be attracted to this issue.

What are people’s thoughts on this account? Will many be opening one?

where_are_we

Leeds RS24 @1% is at the bottom range of RS interest rates and it is not easy access although you can close it without loss of interest. Interest rate is variable which means it could go up or down, although with BOE base rates likely to rise in 2022 I would be very surprised if it went down and it has a chance of going up. Its 2 year life could be useful as it allows up to £6000 deposits at the end of year 2 such that at the end of year 1 you could have a  £3000 balance for a year earning the interest rate prevalent in the second year. However there are better RS interest rates out there so fill those first.

Special_Saver2

Hi Folks,

I have carried out this weekend's update.

- Leeds BS Regular Saver issue 23 replaced with issue 24 (still 1% variable on up to £250 for almost 2 years as issue 23 but can now be opened online and matures 2nd January 2024)

- Principality BS Regular Saver Bond issue 24 replaced with issue 25 (interest rate increased from 1% with issue 24 to 1.05% with issue 25, still for 1 year on up to £250 per month)

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

johnmoney05

Special_Saver2 said:

Hi Folks,

I have carried out this weekend's update.

- Leeds BS Regular Saver issue 23 replaced with issue 24 (still 1% variable on up to £250 for almost 2 years as issue 23 but can now be opened online and matures 2nd January 2024)

- Principality BS Regular Saver Bond issue 24 replaced with issue 25 (interest rate increased from 1% with issue 24 to 1.05% with issue 25, still for 1 year on up to £250 per month)

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

SS2, I think you missed the updated for the two new accounts for Suffolk BS?

Special_Saver2

Hi Everybody,

I have carried out this weekend's update.

- Suffolk BS 1 Year Regular Saver added (locals and existing members only, paying 1.25% fixed on up to £500 per month)

- Suffolk BS 2 Year Regular Saver added (locals and existing members only, paying 3% fixed on up to £50 per month)

From the terms and conditions, it looks like you can hold one of each account.

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

Nick_C

adindas said:

Suffolk BS RSA Special conditions:

You must be an existing member or a new member resident in postcode areas IP, NR, CO, CM, CB or PE.

This account is good as there is no restrictions on withdrawals and allow up to £500 per month.

All covered in the post on page 1 of this thread.

eskbanker

Nick_C said:

adindas said:

Suffolk BS RSA Special conditions:

You must be an existing member or a new member resident in postcode areas IP, NR, CO, CM, CB or PE.

This account is good as there is no restrictions on withdrawals and allow up to £500 per month.

All covered in the post on page 1 of this thread.

I don't think @adindas was presenting it as news but was (sort of) quoting info from page 1 before commenting on it and asking the question at the end of the post....