Regular Savings Accounts: The Best Currently Available List!

SFindlay

RG2015 said:

Frogletina said:

phillw said:

IvanOpinion said:

Santander launching a 2.5% regular saver (£200 per month) on 6th April

Hopefully not the same as the old one...

Regular eSaver

Online regular savings funded from your Santander current account, exclusively for 1|2|3 World, Santander Select or Private Banking customers

I'm not sure what the problem is 

If you hold one of the following products you're part of 1|2|3 World

• 1|2|3 Current Account
• 1|2|3 Lite Current Account
• 1|2|3 Mini Current Account
• 1|2|3 Student Current Account

Currently there is no information directly from Santander. The media reports are saying 123 accounts, with no mention of 123 Lite accounts.

However, the Express has a quote from Hetal Parmar, the head of Banking and Savings at Santander UK, and this is the first and only time (currently) that 123 World has been mentioned.

Quote from Your money.com

The Regular e-Saver, which can be opened online or on mobile allows 123 current account (Lite, Private and Select) customers to pay in up to £200 per month, up to a maximum balance of £2,400.

The funds must be paid into the account via standing order from an existing Santander 123 World, Select or Private current account.

Any money paid in and later withdrawn will count towards the £200 monthly limit.

But, on the maximum £2,400 deposited over the year, you could earn up to £32.26 in interest, up from the current £6.50.

For existing Santander 123 regular savers, you’ll have to wait until your account matures at the end of the 12-month period to get the higher rate.

But Santander confirmed customers can choose to close their existing Regular e-Saver via Chat. Once closed, the balance and accrued interest from the old account will be paid and they can then open a new Regular e-Saver via Online or Mobile Banking. This may be particularly handy for customers who have just started paying into the regular saver at the lower 0.5%.

Last month Santander confirmed the in-credit interest rate on its 123, Select and Private current accounts would rise from 0.30% AER/gross to 0.50% AER/gross as of 28 March.

This means customers can earn up to £100 in interest on their account each year, up from the current £60.

Hetal Parmar, head of banking and savings at Santander UK, said: “We understand saving for the future remains important to many customers, and following the recent increase to the interest rate on our 123 Current Account, we’re pleased to offer 123 World customers even more value with our new Regular e-Saver.”

Nick_C

RG2015 said:

Currently there is no information directly from Santander.

There certainly is. 

https://www.santander.co.uk/about-santander/media-centre/press-releases/santander-uk-launches-25-regular-e-saver

Read the press release and the references and you will see that Frogletina gave the correct answer upthread. 

123 Lite is fine. 

RG2015

Nick_C said:

RG2015 said:

Currently there is no information directly from Santander.

There certainly is. 

https://www.santander.co.uk/about-santander/media-centre/press-releases/santander-uk-launches-25-regular-e-saver

Read the press release and the references and you will see that Frogletina gave the correct answer upthread. 

123 Lite is fine. 

Excellent! Many thanks for this.

I did several searches and was not able to find a definitive statement from Santander.

Frogletina was indeed correct. However if the press release had been linked here earlier, all the speculation could have been avoided. 

soulsaver

Santander terms now available for 2.5% Reg Saver £200 pm. £2400 max

Regular eSaver | Fixed Rate For 12 Months | Santander UK
Regular eSaver (Issue 15) Key Facts Document – APR22 (santander.co.uk)

MDMD

Club Lloyds monthly saver now 1.25%. Usual rules apply that if you have opened one in last 12 months can’t open this until you go past 12 months:

https://www.lloydsbank.com/savings/club-lloyds-monthly-saver.html

Standard LBG regular savers at Halifax, Lloyds, BOS now 1%

veryintrigued

soulsaver said:

Santander 2.5% Reg Saver £200 pm. £2400 max

Regular eSaver | Fixed Rate For 12 Months | Santander UK
Regular eSaver (Issue 15) Key Facts Document – APR22 (santander.co.uk)

I can't warrant upgrading from an Everyday C/A to be eligible unfortunately but thanks for the link.

nomorekids

soulsaver said:

Santander 2.5% Reg Saver £200 pm. £2400 max

Regular eSaver | Fixed Rate For 12 Months | Santander UK
Regular eSaver (Issue 15) Key Facts Document – APR22 (santander.co.uk)

Up and running, takes seconds 

jaypers

Santander RS opened via the app. All very easy but always think Santander is a bit clunky as you have to manually transfer the first payment and set up a STO. Should be part of the application process. 

GPK10

I have tried to open the new Santander RS as an existing 123 Lite account holder. It won't let me as I already have a dormant regular saver account paying 0.5%. Is there a way of upgrading or closing online, or will I need to call them?

Graham

Frogletina

MDMD said:

Club Lloyds monthly saver now 1.25%. Usual rules apply that if you have opened one in last 12 months can’t open this until you go past 12 months:

https://www.lloydsbank.com/savings/club-lloyds-monthly-saver.html

Standard LBG regular savers at Halifax, Lloyds, BOS now 1%

I tried  to close this account, but the message I got was that I couldn't close the account unless there was £5 or less in there. So I transferred the bulk of the money leaving £5 in the account and now I have a message saying that the account cannot be closed online.

My account only has until May to run, so I thought I'd close it now as the interest I get will be in the new tax year, and transfer all the money to Chase.