Regular Savings Accounts: The Best Currently Available List!

Daliah

SFindlay said:

In short evry card spend is rounded up to next full pound and that money is put into a separate account called round up account. So if you spend £1.20 then 80p goes into round up account or spend £9.70 and 30p goes into the round up account. All the money in your round up account earns 5% interest which will be added monthly to your round up account. 

Just to clarify: it's 5% AER, starting from the date you activate roundup, and the roundup account gets emptied annually. So it works more or less like any RS, just you can't easily add a fixed monthly amount on the first (or any day) of the month.

T&Cs here: https://www.chase.co.uk/gb/en/legal/round-ups/

Emily_Joy

Halifax Regular Saver

Maturity date is today. The balance is showing as 3200+, this month's payment went in, the interest is showing as 0.85%  (last year rate). What are the current rules? Last year it has been reknewed without me doing anything. I was counting on the funds to pay of some CC, so, unfortunately, need to know when the funds will be actually available. 

Descrabled

Halifax Regular Saver

Emily_Joy: The funds are available at any time. Just go into the app or online and transfer the funds you need upto those showing as available. The interest will be added overnight.

If you don't want to continue the regular saver at the rubbish interest rate then cancel the accompanying saver now online or in the app.

Descrabled

Halifax Regular Saver

Emily_Joy: Look back over the payments into the RS and find the date last year when the interest payment was received. This year's interest and account maturity will be on the same date this year.

trickydicky14

SFindlay said:

trickydicky14 said:

Wheres_My_Cashback said:

phillw said:

Nick_C said:
(I'm not in interested in the 1% potential cashback from the Debit Card.  My Barclaycard Avios are worth at least 1.2%)

roundup can make a difference to low value transactions.

Yep, I've managed to get £160 in the first month, but now I have it sussed what I need to do I'll be aiming for £250-300pm for the next 11 months, so effectively a regular saver at 5% 

Not wishing to sound stupid but, how does round up work and how do you activate it thanks

Since quicker explaining it than sending you links without actually helping I hope below answers your question.

In short evry card spend is rounded up to next full pound and that money is put into a separate account called round up account. So if you spend £1.20 then 80p goes into round up account or spend £9.70 and 30p goes into the round up account. All the money in your round up account earns 5% interest which will be added monthly to your round up account. 

In your App you should automatically have a round up account opened at same time as your current account, just click on it and you will have option to pause round ups or activate them. 

Thank you so much, I now fully understand.

Descrabled

Chorley Seasonal Saver 1, 2, and 3 (closed accounts)

email this pm that these going from 1.05% to 1.2% on 16 May. Not sure which I have but at the new higher rate I am not getting excited. Will keep as a place holder with nominal monthly addition.

schiff

Nearly all the increases in interest rates for ongoing regular savers have applied to the current balance and future payments - but not Club Lloyds Monthly Saver. I had assumed the 1.25% rate would apply on all subscriptions but it doesn't. It only applies to new accounts opened from 6.4.2022. Found that out today checking my April payment had gone in. The rate remains 1.00%.

Ed-1

schiff said:

Nearly all the increases in interest rates for ongoing regular savers have applied to the current balance and future payments - but not Club Lloyds Monthly Saver. I had assumed the 1.25% rate would apply on all subscriptions but it doesn't. It only applies to new accounts opened from 6.4.2022. Found that out today checking my April payment had gone in. The rate remains 1.00%.

That's because it's a fixed rate.

JezR

There have been cases before in rising markets where fixed regular saver rates from some providers have nevertheless been increased but of course there is no obligation.

phillw

Descrabled said:

Halifax Regular Saver

Emily_Joy: The funds are available at any time. Just go into the app or online and transfer the funds you need upto those showing as available. The interest will be added overnight.

This is what it says on the halifax web site.

No. You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months.

We will open an Everyday Saver account as part of this application. After 12 months any money you’ve saved in your Regular Saver plus interest will transfer into your Everyday Saver account. You can make as many withdrawals as you like from this account and there are no charges for doing so.

I would contact customer services if you need the money urgently and get them to give you the options, make sure you find out if there is an interest penalty accessing it early.