Regular Savings Accounts: The Best Currently Available List!

kaMelo

Decent rates but the need to work,  study or live in Bath excludes many of us.

glider3560

kaMelo said:

Decent rates but the need to work,  study or live in Bath excludes many of us.

The Homestart Regular Saver can be opened by people outside Bath, provided they are aged 18 to 34.

Once that account is open, you're then eligible for The Regular Saver, as an existing customer.

Might be useful knowledge for anyone in that age group.

orange-juice

Kazza242 said:

According to Moneyfacts, Saffron Building Society will launch issue 10 of their 12 Month Fixed Rate Members Regular Saver on 25th May 2022.  It will pay 2.05%.

It allows £50 - £500 to be deposited per month.

Details will appear here once the Saffron website is updated.

Current holders of earlier issues should be able to switch to this issue by contacting Saffron Building Society. 

To have this account you have to have held a mortgage or savings account with the Society for at least 12 months.

Thanks. Hopefully they'll release a new small saver rs for those who haven't been members for at least 12 months.

happybagger

kaMelo said:

Decent rates but the need to work,  study or live in Bath excludes many of us.

Agree.
I provided it mainly for existing customers to be aware, and so that SS can amend the first page at next update.

where_are_we

I can`t find the new Saffron RS10 @2.05% reports. You are able to close Saffron RS9 @1.75% without loss of interest and switch to RS10 @ 2.05%. You keep same account number and if requested they take £500 from RS9 to fund the first deposit of RS10. Previously I did this procedure at start of February and again at the start of March by using secure message. Because I funded £500 to RS9 for month of May 22 they may delay £500 funding transfer of RS10 until June 1st?

Notepad_Phil

where_are_we said:

... Because I funded £500 to RS9 for month of May 22 they may delay £500 funding transfer of RS10 until June 1st?

I doubt they'll delay anything, they'll just switch the RS9 into the RS10, leave £500 in there whilst transferring the rest out - I'm 99.9% sure that's what they did with mine in a similar position.

Edit --- Just checked and that was definitely what they did for me last time round. I just asked them to leave £500 in the new version and transfer the rest out.

Notepad_Phil

FYI the new Saffron Members v10 2.05% AER regular saver is now showing on their website https://www.saffronbs.co.uk/savings/regular-savings-accounts/12-month-fixed-rate-members-regular-saver-issue-10

From what I can see it looks exactly the same as the v9 except for the extra interest.

Daliah

Superb service from Saffron BS - switched to v10, retaining the same account number,  £500 "opening" deposit kept, interest and remaining balance paid to linked current account, all done and dusted within 5 minutes. New maturity date is now 25/05/2023, and I extended my existing SO to ensure an additional 11 monthly deposits will be made, starting on June 1.

schiff

Saffron - they could avoid all this (not that it's any trouble) by making the interest rate variable.

Daliah

schiff said:

Saffron - they could avoid all this (not that it's any trouble) by making the interest rate variable.

That‘s not how their products are stuctured. The new version is effectively a new RS, running for 12 months from the switch date. They allow you to close your existing fixed rate / fixed term version, without penalties, if you take out the new version, which is another 12 months fix. Saffron‘s flexibility on this is in stark contrast to First Direct, who force their existing customers to either sit out the 12 months term, or to take a massive interest hit.