Regular Savings Accounts: The Best Currently Available List!

Malchester

I stopped my SO to RBS digital saver as soon as first payment was made (and that was only for £1). Now send the £150 from my Nationwide account. No problems. I think the idea of the SO is to encourage people to keep saving automatically 

Thumbs_Up

Set mine up 1 hour ago, when money gets close to £1,000 just take some out ..simples.

liamcov

Home Buying Coach Regular Saver 10

Does this follow the same pattern of maturing two months after the last one (so by my calculation 20 Apr 23)? - I can't see anything on the webpage apart from various mentions of 14 months.

SFindlay

liamcov said:

Home Buying Coach Regular Saver 10

Does this follow the same pattern of maturing two months after the last one (so by my calculation 20 Apr 23)? - I can't see anything on the webpage apart from various mentions of 14 

Yes same as others.

spider42

Coventry Regular Savings Account (formerly Stroud & Swindon Regular Saver Plus Issue 2)

Does anybody have any information on the current terms on this account please? When it was a Stroud & Swindon account, my notes say that a monthly deposit of between £10 and £250 was required, and no more than one withdrawal per account year  was permitted. Otherwise, the 2.5% bonus interest would be lost.

Following the merger takeover by Coventry, there isn't any bonus interest. So my question is, do the minimum monthly deposit and withdrawal restrictions effectively no longer apply, as there is now no bonus to lose? What happens if you break either the monthly deposit or withdrawal conditions?

The rate is now only 1.15% (rising to 1.25% on 1 May 2022), which for the first time is lower than the best available instant access account (Chase @ 1.5%).

I'm just trying to weigh up whether to keep the money in (but possibly reduce the monthly payments), withdraw most of the funds but leave it open, or just close it completely and move it all to Chase.

I've built up over £40k in this account over 12 years, so I'm slightly reluctant just to take it all out, in case it comes good again in the future. There aren't many RS accounts around which continue indefinitely. I think when we have the next base rate increase, it is perhaps unlikely that Chase will increase their rate accordingly, as they are already some way ahead of the competition. So this account could close the gap on Chase. However, with Coventry's dismal interest rate record on this account over the last few years, I don't have much confidence that this account would catch up with Chase even when base rates next increase again.

lucky77

Coventry Regular Saver

I believe the only change in terms was back in January 2015 when the bonus was interest stopped and no longer a maximum balance.  I agree with your thoughts regarding this account and will probably move some money to Chase but keep the account open to keep my options open.

[Deleted User]

I have a First Direct regular saver due to mature on 16 April (Easter Saturday). The account has disappeared from my online record (as expected] but the maturity proceeds have not yet appeared in the basic savings account into which they are to be transferred on maturity. Does anyone know what happens if the maturity date is not a banking day? If I have to wait until the next banking day, that won't be until Tuesday,

typistretired

Deleted_User said:

I have a First Direct regular saver due to mature on 16 April (Easter Saturday). The account has disappeared from my online record (as expected] but the maturity proceeds have not yet appeared in the basic savings account into which they are to be transferred on maturity. Does anyone know what happens if the maturity date is not a banking day? If I have to wait until the next banking day, that won't be until Tuesday,

According to their site frequently asked questions regular saver maturity process can take up to 5 days

vermania

spider42 said:

Coventry Regular Savings Account (formerly Stroud & Swindon Regular Saver Plus Issue 2)

Does anybody have any information on the current terms on this account please? When it was a Stroud & Swindon account, my notes say that a monthly deposit of between £10 and £250 was required, and no more than one withdrawal per account year  was permitted. Otherwise, the 2.5% bonus interest would be lost.

Following the merger takeover by Coventry, there isn't any bonus interest. So my question is, do the minimum monthly deposit and withdrawal restrictions effectively no longer apply, as there is now no bonus to lose? What happens if you break either the monthly deposit or withdrawal conditions?

The rate is now only 1.15% (rising to 1.25% on 1 May 2022), which for the first time is lower than the best available instant access account (Chase @ 1.5%).

I'm just trying to weigh up whether to keep the money in (but possibly reduce the monthly payments), withdraw most of the funds but leave it open, or just close it completely and move it all to Chase.

I've built up over £40k in this account over 12 years, so I'm slightly reluctant just to take it all out, in case it comes good again in the future. There aren't many RS accounts around which continue indefinitely. I think when we have the next base rate increase, it is perhaps unlikely that Chase will increase their rate accordingly, as they are already some way ahead of the competition. So this account could close the gap on Chase. However, with Coventry's dismal interest rate record on this account over the last few years, I don't have much confidence that this account would catch up with Chase even when base rates next increase again.

I think based on experience Coventry are unlikely to reward those of us who've held this account for a long time. As we've all seen they have keenly reduced the rate from market-leading and are not increasing it much. I am going to use it towards a deposit on a property. Subsequently, I think I will keep it open and make small payments, in case the situation changes or they do decide to offer rewards to members. I am glad of the substantial interest payments it has made in the past but the value of this account is coming to its conclusion.

Speculator

I've given up on the Coventry Reg (formerly Stroud & Swindon)  when they announced they are increasing the rate to 1.25% in May.

Transferred everything apart from £100 to the Chase account for the time being.

Also reduced my monthly payments to £10.