Regular Savings Accounts: The Best Currently Available List!

veryintrigued

refluxer said:

veryintrigued said:

Looks, almost certain, that we'll.be having another round.of.interest rate increase.posts come the 1st March.

Are you thinking that some of those who haven't increased their rates this month will fall into line next month, or is that following the recent news of another expected interest rate rise this week ?

This.....

typistretired

Bank of England rate now 0.50%. 4 members wanted it to go up to 0.75%

Wheres_My_Cashback

kaMelo said:

saverkev said:

Cumberland BS Regular Saver now 1.15% - only available in local postcodes - max £250 pm but continues ad infinitum - max funds can only be £15000 plus interest

Principality has increased the rates of some accounts also, unfortunately not the basic regular savers but it has increased their First Home Steps account. 
New rates;

£1 to £2,500 - 0.95%

£2,501 to £7,500 - 1.15%

£7,501 to £25,000 - 1.65%

Second guessing that a new Principality RS issue 26 will appear later in the month with hopefully the latest interest rate rise reflected in that account.

Descrabled

Lloyds and HSBC regular savers

These are all looking poor value now.  My decision to pull regular savers paying less than 1.5% is looking good. May have to revise to 1.75% (now why would I pick that figure?)

Inflation likely to reach nearly 8% and BOE interest rate reaching 1% by middle of year. Sell holiday and airline shares as none will be able to afford any trips.

Special_Saver2

Hi Folks,

I have carried out this weekend's update.

- Bath BS Homestart Regular Saver interest rate increased from 1.15% to 1.3% from 1st March 2022
- Bath BS Regular Saver interest rate increased from 1% to 1.15% from 1st March 2022
- Bath BS 16-25 Regular Saver interest rate increased from 4% to 4.15% from 1st March 2022
- Stafford Railway BS Regular Saver (Issue 1) interest rate increased from 1% to 1.15% from 1st February 2022
- Darlington BS Darly Young Saver interest rate increased from 1% to 1.15% from February 2022
- Darlington BS Teen Goal Saver interest rate increased from 2% to 2.15% from February 2022
- Darlington BS Special Occasion Saver interest rate increased from 1.25% to 1.4% from February 2022
- Cumberland BS Regular Saver (Issue 3) interest rate increased from 1% to 1.15% from February 2022
- Cumberland BS First Home Saver Account (Issue 2) interest rate increased from 1% to 1.15% from February 2022
- Leeds BS Regular Saver (Issue 25) updated to issue 25 (issue 24 was paying 1% until 2nd January 2024, issue 25 paying the same until 31st January 2024)
- Principality BS First Home Steps Savings Account (Issue 3) updated from issue 2 to issue 3; note that although the issue 1 and issue 2 versions of this account have the 0.15% interest rate mentioned in kaMelo's post, the issue 3 keeps the old interest rate of the issue 2 without any increase (which is fine for old customers with the old issue but not very nice for new customers that now open issue 3)

For some of the regular savings accounts, I cannot tell the exact date the interest rate went up hence the vague "from February 2022" on those entries.

In my update next weekend, I will be checking through the interest rates of every account on the first page of this thread to see if there are any more interest rate increases. If you spot an interest rate rise on one of those accounts then feel free to post to this thread and I will incorporate it into next weekend's update.

It is good to see so many providers passing on last month's 0.15% interest rate rise in full on to regular savings accounts (that are already paying a higher interest rate than other savings accounts) and it will be interesting to see in the next month whether the full 0.25% of this week's base rate rise filters through.

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

adindas

Does anyone know the best way to close the TSB easy saver account, e.g., the TSB monthly saver which have changed to easy saver? Thx

RacingDriver

adindas said:

Does anyone know the best way to close the TSB easy saver account, e.g., the TSB monthly saver which have changed to easy saver? Thx

You can close your account by completing the Online Account Closure Form (if you have a passport or photo driving licence) or by downloading and sending the form back by post.

https://www.tsb.co.uk/help-and-support/general/close-account/ (under "How do I close a savings account?")

Daliah

My 3.6% YBS Loyalty Saver is maturing in a couple of weeks time. Their best follow-on offer is a depressing 0.65% var in a "six access" saver.

Wheres_My_Cashback

adindas said:

Does anyone know the best way to close the TSB easy saver account, e.g., the TSB monthly saver which have changed to easy saver? Thx

I'd just leave it open, eventually they'll mark it as dormant and close it.

TSB are one of a handful of banks who make it far too difficult to close online accounts. Nobody should have to send Driving Licence/Passport details to a third party to enable that closure.

Fingerbobs

adindas said:

Does anyone know the best way to close the TSB easy saver account, e.g., the TSB monthly saver which have changed to easy saver? Thx

Can't say it's necessarily the "best" way, but last time I closed a couple of these ex-RS savings accounts I just wandered into a branch with one of my TSB debit cards. Took all of 5 minutes, no ID required.