Regular Savings Accounts: The Best Currently Available List!

Every_Penny_Counts

Re NatWest/RBS Digital Saver

I guess the way to solve this is if anyone here has already hit the £1K amount & stopped paying in (prior to this week)...  And if so, are they still getting the interest?

EPC

kaMelo

No one will have as the earliest that was possible under the original terms was next month.

For what it's worth I have topped up to£1000 and cancelled the standing order. I fully expect to receive the interest as my understanding of the terms is that a regular payment is no longer required.

Every_Penny_Counts

kaMelo said:

No one will have as the earliest that was possible under the original terms was next month.

For what it's worth I have topped up to£1000 and cancelled the standing order. I fully expect to receive the interest as my understanding of the terms is that a regular payment is no longer required.

Me too!  We shall see...

PRAISETHESUN

kaMelo said:

No one will have as the earliest that was possible under the original terms was next month.

For what it's worth I have topped up to£1000 and cancelled the standing order. I fully expect to receive the interest as my understanding of the terms is that a regular payment is no longer required.

I've done the same, as that is my understanding as well. Will see what happens!

Bizzywizard

JamesPeter said:

Daliah said:

Bizzywizard said:

Hi,

Thought I'd let you know that RBS are offering the regular saver 3% up to £1 - £150 a month this started on 15th March. Its was an aweful rate before and was only £50 a month.

Not sure if this is only for current RBS regular savers.

Bizzy

castle96 said:

A UK resident, aged 16 years or over and a Royal Bank of Scotland current account holder.

3% on first £1k

Already covered from this post on page 424 onwards. The account always had 3.04% AER on up to £1,000, and the same pre-reqs.

Re Natwest:

I think what Bizzywizard may have been referring to was Natwest’s ‘Savings Builder’ regular saver account which paid 0.25% provided one increased the account balance by a minimum of £50 per month.

This account was withdrawn a few days ago on the day the Digital Regular Saver rules changed.

In effect Natwest seem to have merged the Savings Builder into the Digital Regular Saver for balances over £1k but removed the £50 minimum monthly funding requirement of the Savings Builder.

A few years ago the Savings Builder was quite competitive, but over time the interest rate dwindled down to a paltry 0.25%. I still have mine open with just over a quid in it and didn’t bother earning any interest on it, just in case they ever improved the account – which they never did.

Incidentally, I spoke with Natwest via online chat yesterday after topping up my Digital Regular Saver to a balance of £1k (only required £28.00 to make the balance £1k). Their view was that you need to continue to pay in a minimum of £1.00 per month by standing order to comply with the account rules (despite the ambiguity mentioned in posts above regarding funding the account once hitting the £1k balance).

I thus changed my standing order for the account to pay in £1.00 per month.

I will occasionally sweep the monthly payments and interest to just leave the £1k balance and move the ‘swept’ money to a better paying account.

 

Thanks for putting it so much better than me! You are awesome James! 

JamesRobinson48

Principality BS has a new RS out today: Issue 26, replacing 25.  Not too exciting:  1.25% fixed, max £250 pm, max £3000 total, one year life.  As usual, it can be held alongside Principality's other RS issues.

https://www.principality.co.uk/en/savings-accounts/fixed-term-savings-and-bonds/1-year-regular-saver-bond

where_are_we

Principality RS26 does not allow withdrawals, but you can close it without loss of interest. As I have filled up all the better options, I will participate until something better than 1.25% comes along (after today`s interest rate rise that might not be too long).

Special_Saver2

Hi Everybody,

I have made the following changes for this weekend's update.

- NatWest and RBS Digital Regular Saver entries updated to show the revised interest rates (now pays 0.25% on £1,001 to £5,000) and increase in the maximum monthly deposit to £150)
- Principality BS 1 Year Regular Saver Bond updated from issue 25 to issue 26 paying 1.25% on up to £250 per month for 1 year (same conditions as before including no early withdrawals except for account closure)

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

skitskut

LateStarter said:

I've got both the First Direct Regular Saver Account and HSBC Regular Saver; when I log into online banking they both show the interest rate as 1.09% even though the linked pages are still saying 1%.

HSBC regular saver now back to showing 1.0% for me in the app. Must have been a glitch.

where_are_we

I didn`t renew my First Direct RS @ 1%. Apart from the below average RS interest rate, it is fixed for 12 months so can`t be increased, it doesn`t allow partial withdrawals and if you close the account early you don`t get 1% interest but their standard savings interest rate currently 0.1%.