Regular Savings Accounts: The Best Currently Available List!

surreysaver

badger09 said:

Just had email from Ecology Building Society.

Regular Saver interest reducing from 1.75% to 1.25% from 4th May.
It was only a matter of time and I'll continue to use it as I have since November 2017 for modest, but not ridiculously tiny monthly savings drawn by DD.

Only posted my application to them last week. Still waiting to hear back. Wondering whether I should bother or not

colsten

surreysaver said:

Only posted my application to them last week. Still waiting to hear back. Wondering whether I should bother or not

Snap. You and I seem to be on the same journeys, making the same experiences (I'd love to be on a real journey right now, spending my money, rather than chasing the best interest rates....)

where_are_we

colsten said:

surreysaver said:

Only posted my application to them last week. Still waiting to hear back. Wondering whether I should bother or not

Snap. You and I seem to be on the same journeys, making the same experiences (I'd love to be on a real journey right now, spending my money, rather than chasing the best interest rates....)

Is this a card game!  Having gone to the trouble of opening an ECB regular saver I will keep it, albeit at 1.25%. With Marcus without the bonus down to 1.2% on 7/5 and Ford Flexible Saver down from 1.35% to 1.25% on 16/6 the ECB 1.25% rate may be worth having in the future if you have used up all the better options.

SuperHans1

schiff said:

Monmouth BS
This could be interesting in the current climate:
https://www.monbs.com/products/saver-plus/
£20-£1000 pm every month, one withdrawal pa, 0.55% variable and 1% fixed Bonus if those conditions met.

I'm sorry if this has already been asked but this forum has recently become so vast it is difficult to find anything....

I am trying to figure out what happens beyond the first year with this account and hoping someone here can help me. The terms seem to suggest that the bonus rate - 1% variable - is payable each year as long as you meet the conditions of the account? Is that how others interpret this as well?

I'm also struggling to see difference between this and the Christmas Saver other than the difference in the withdrawal restrictions?

I'm fortunate that I have an instant access saver with Kent Reliance that is still paying 1.5% but I am hedging my bets in case the rate is reduced.

SFindlay

SuperHans1 said:

schiff said:

Monmouth BS
This could be interesting in the current climate:
https://www.monbs.com/products/saver-plus/
£20-£1000 pm every month, one withdrawal pa, 0.55% variable and 1% fixed Bonus if those conditions met.

I'm sorry if this has already been asked but this forum has recently become so vast it is difficult to find anything....

I am trying to figure out what happens beyond the first year with this account and hoping someone here can help me. The terms seem to suggest that the bonus rate - 1% variable - is payable each year as long as you meet the conditions of the account? Is that how others interpret this as well?

I'm also struggling to see difference between this and the Christmas Saver other than the difference in the withdrawal restrictions?

I'm fortunate that I have an instant access saver with Kent Reliance that is still paying 1.5% but I am hedging my bets in case the rate is reduced.

My understanding is it rolls over to next year and you can continue to pay into it and in effect already start next years savings (April 2021) with £1200 saved if paid in the full amount each month with no withdrawals. 
As you say Christmas saver is similar but crucially  you only have the 3 month period over christmas and new year to withdraw or else account would be closed so you cant start one today and make a withdrawal next March. Potentially worth opening paying in full amount and then withdrawing majority of it at end of January if thinking will need money before the following November.
One thing I would say if want to open and take full advantage of making deposit in April apply soon as takes about 10 days to get up and running as they require hard copy of your signature, I just got my letter back today saying they got my signature and account can be funded and I applied on 5th but they were closed Easter weekend to be fair. 

surreysaver

SFindlay said:

SuperHans1 said:

schiff said:

Monmouth BS
This could be interesting in the current climate:
https://www.monbs.com/products/saver-plus/
£20-£1000 pm every month, one withdrawal pa, 0.55% variable and 1% fixed Bonus if those conditions met.

I'm sorry if this has already been asked but this forum has recently become so vast it is difficult to find anything....

I am trying to figure out what happens beyond the first year with this account and hoping someone here can help me. The terms seem to suggest that the bonus rate - 1% variable - is payable each year as long as you meet the conditions of the account? Is that how others interpret this as well?

I'm also struggling to see difference between this and the Christmas Saver other than the difference in the withdrawal restrictions?

I'm fortunate that I have an instant access saver with Kent Reliance that is still paying 1.5% but I am hedging my bets in case the rate is reduced.

My understanding is it rolls over to next year and you can continue to pay into it and in effect already start next years savings (April 2021) with £1200 saved if paid in the full amount each month with no withdrawals. 
As you say Christmas saver is similar but crucially  you only have the 3 month period over christmas and new year to withdraw or else account would be closed so you cant start one today and make a withdrawal next March. Potentially worth opening paying in full amount and then withdrawing majority of it at end of January if thinking will need money before the following November.
One thing I would say if want to open and take full advantage of making deposit in April apply soon as takes about 10 days to get up and running as they require hard copy of your signature, I just got my letter back today saying they got my signature and account can be funded and I applied on 5th but they were closed Easter weekend to be fair. 

That is also my understanding of how the account operates, with it rolling over each year.

surreysaver

where_are_we said:

colsten said:

surreysaver said:

Only posted my application to them last week. Still waiting to hear back. Wondering whether I should bother or not

Snap. You and I seem to be on the same journeys, making the same experiences (I'd love to be on a real journey right now, spending my money, rather than chasing the best interest rates....)

Is this a card game!  Having gone to the trouble of opening an ECB regular saver I will keep it, albeit at 1.25%. With Marcus without the bonus down to 1.2% on 7/5 and Ford Flexible Saver down from 1.35% to 1.25% on 16/6 the ECB 1.25% rate may be worth having in the future if you have used up all the better options.

I think I will probably go through with the opening, I have asked for the minimum direct debit of £25 to be taken each month which can be topped up.  That direct debit will enable me to do away with one of my Post Office Savings direct debits on my Club Lloyds account, and I don't mind a lower interest rate on an organisation such as this.  Hopefully there won't be another drop.
And yes, it is a card game!  The chase is the fun part.  The dramatic drop in the BoE base rate has caused me to totally reevaluate my portfolio!  The last three weeks have been quite fun and exciting.

typistretired

SFinlay You can’t just put in the full amount you have to
make a deposit each month. Did you mean a £1000 each month?  It does roll over I have rolled over my plus account which paid interest end of March 

interest_Ted

soulsaver said:

sharpinf said:

Seems Kent Reliance have now moved onto issue 4 of their Regular Saver, down to 2% (from 3%), still upto £500 pay-in, variable interest rate and permitted withdrawls. 
https://www.kentreliance.co.uk/savings-accounts/regular-savings-account

Branch only...

In fact....KRBS will currently handle branch account openings by post.  Refer to their Covid-19 FAQs...relevant question "can I still open an account in branch".
Ted

Special_Saver2

Hi Everybody,

Here is this weekend's update to this thread.

- Stafford Railway BS Regular Savings (Issue 1) interest rate dropping from 2% to 1% from 1st May 2020
- Virgin Money Regular e-Saver Issue 15 replaced with Issue 16 paying 1.5% fixed until 20th May 2021
- Kent Reliance Regular Saver Issue 3 replaced with issue 4 paying 2% variable
- Swansea BS Regular Saver interest rate dropping from 2.78% AER to 2.02% AER from 1st May 2020

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