Regular Savings Accounts: The Best Currently Available List!

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.

Wheres_My_Cashback

One to watch....

COVENTRY BS

The Bank of England Base Rate has gone up today

You might have heard that the Bank of England increased the Base Rate on Thursday 5 May to 0.25%.

We’re pleased to say we’re increasing the rates on most of our variable savings accounts effective 1 June 2022.

If your rate changes, we’ll be in touch with you to let you know by 20 May 2022 - you don’t need to do anything at all.

Clearly it wasn't proof read before being sent out !

LateStarter

Wheres_My_Cashback said:

One to watch....

COVENTRY BS

The Bank of England Base Rate has gone up today

You might have heard that the Bank of England increased the Base Rate on Thursday 5 May to 0.25%.

We’re pleased to say we’re increasing the rates on most of our variable savings accounts effective 1 June 2022.

If your rate changes, we’ll be in touch with you to let you know by 20 May 2022 - you don’t need to do anything at all.

Clearly it wasn't proof read before being sent out !

A correction has been issued (and hopefully the shoud-have-proofread-but-didn't culprit is now in the stocks). Glad I kept the RS open now.

typistretired

Yes I received the second email too correcting earlier email 

[Deleted User]

Coventry BS too quick off the mark to be first to tell us that their variable rates would be increasing following today's base rate rise. 

Big_W

Deleted_User said:

Coventry BS too quick off the mark to be first to tell us that their variable rates would be increasing following today's base rate rise. 

Personally I applaud Coventry for doing so. Beats the ones that completely ignore the recent BoE rate rises.

(acknowledged that a BS raising rates is a commercial decision, and sometimes they don't need to attract any more savings deposits)     

RG2015

Deleted_User said:

Coventry BS too quick off the mark to be first to tell us that their variable rates would be increasing following today's base rate rise. 

Will be very interesting to see if any of their new rates are competitive come the 1st of June. 

SFindlay

Deleted_User said:

Coventry BS too quick off the mark to be first to tell us that their variable rates would be increasing following today's base rate rise. 

Why too quick off the mark?? Seems like it's the old story can't do right for doing wrong, if they didn't announce changes for a while everyone would be moaning!!

Let's be honest the 0.25% increase hardly came out the blue so all organisations have had plenty of time to decide what their response would be if that expected increase did come as expected so Coventry (and many other institutions) will have known what they would do and hats off to them for declaring early.