Regular Savings Accounts: The Best Currently Available List!

happybagger

Leek United rates from 13 June
All Regular Savers are closed issues.

Regular Savings and Homebuyer Regular Savings 1.15%
Flexible Saver 1.40%

Source

adindas

Kazza242 said:

Principality Building Society have increased the interest rates paid on their First Home Steps Online Regular Savers w.e.f. 1st June 2022.  

Their online issue 1, now pays 2.05% on balances £7,501 - £25,000, 1.55% £2,501 - £7500.00 and 1.35% £1 - £2,500.00. (Closed issue).  

Their branch-based issue 1, now pays 2.40% on balances £7,501 - £25,000, 1.90% £2,501 - £7500.00 and 1.40% £1 - £2,500.00. (Closed issue).  

Their current online issue 2, now pays 2.00% on balances £7,501 - £25,000, 1.50% £2,501 - £7500.00 and 1.30% £1 - £2,500.00. (Current issue).  See here .  Furthermore, their current branch-based version (issue 3) also pays the same rates as their online issue 2.  

Full details here .

How long will it take moving money from Principality saving account to current account and visa versa ??

Kazza242

adindas said:

Kazza242 said:

Principality Building Society have increased the interest rates paid on their First Home Steps Online Regular Savers w.e.f. 1st June 2022.  

Their online issue 1, now pays 2.05% on balances £7,501 - £25,000, 1.55% £2,501 - £7500.00 and 1.35% £1 - £2,500.00. (Closed issue).  

How long will it take moving money from Principality saving account to current account and visa versa ??

With regards to the Principality First Home Steps Online regular saver, I have only made payments into the account so far.  I haven't made any withdrawals yet.  (Please note that online issue 1 is a closed issue - no longer available to open.  Online issue 2 is now available)

For payments into the account.  They use Barclays as a clearing bank.  The SO payments from my current account arrive into my Principality account the same day and are dated as such.  

The account allows 3 penalty-free withdrawals per calendar year, it is not designed for frequent withdrawals.  

Regarding moving money from the Principality savings account to the current account.  I also have a Christmas saver with Principality BS. 

For the maturing transfer of funds, they use faster payments and so my maturing funds arrive into my current account the same day (during the afternoon). Though, I tend to allow up to the end of the following working day to receive the maturing funds.   

swanfan02

Melton building society have released a new regular saver,

2.70% fixed until 31-07-24
Min £10-£250 max per month
Maximum total £7000
No withdrawals
Apply by post or in branch

https://www.themelton.co.uk/fixed_rate_savings/jubilee-regular-saver/

where_are_we

swanfan02 said:

Melton building society have released a new regular saver,

2.70% fixed until 31-07-24
Min £10-£250 max per month
Maximum total £7000
No withdrawals
Apply by post or in branch

https://www.themelton.co.uk/fixed_rate_savings/jubilee-regular-saver/

No withdrawals, a 2 year term and it looks like early closure of the account is not mentioned, although you could stop paying in, means I will probably pass on this one. Interest rates on savings are on an upward trend.

johnmoney05

where_are_we said:

swanfan02 said:

Melton building society have released a new regular saver,

2.70% fixed until 31-07-24
Min £10-£250 max per month
Maximum total £7000
No withdrawals
Apply by post or in branch

https://www.themelton.co.uk/fixed_rate_savings/jubilee-regular-saver/

No withdrawals, a 2 year term and it looks like early closure of the account is not mentioned, although you could stop paying in, means I will probably pass on this one. Interest rates on savings are on an upward trend.

Some banks might not allow withdrawals, but you could close the account.

Daliah

johnmoney05 said:

where_are_we said:

swanfan02 said:

Melton building society have released a new regular saver,

2.70% fixed until 31-07-24
Min £10-£250 max per month
Maximum total £7000
No withdrawals
Apply by post or in branch

https://www.themelton.co.uk/fixed_rate_savings/jubilee-regular-saver/

No withdrawals, a 2 year term and it looks like early closure of the account is not mentioned, although you could stop paying in, means I will probably pass on this one. Interest rates on savings are on an upward trend.

Some banks might not allow withdrawals, but you could close the account.

Which clause applicable to the Melton RS allows early closure?

happybagger

I don't see it - clearly states no withdrawals, and early closure is a withdrawal.

Although this rate looks great for a RS, it is fixed and with no withdrawals, has to be compared to 2yr FRBs which are currently at a similar rate, so I'm not seeing any great benefit to it apart from the ability to cease deposits if alternative rates rise further.

[Deleted User]

My Club Lloyds Monthly Saver has just matured after a year of saving £400 per month at 1% fixed, earning me £24.90 interest. Renewal is offered at 1.25% fixed for a year. For the first time in six years, I am not going to renew. Why would anyone save at 1.25% fixed for a year forward from now, when you can easily get 1.5% plus on instant access? I will keep my Club Lloyds current account just for the cinema tickets.

mooneysaver

Deleted_User said:

My Club Lloyds Monthly Saver has just matured after a year of saving £400 per month at 1% fixed, earning me £24.90 interest. Renewal is offered at 1.25% fixed for a year. For the first time in six years, I am not going to renew. Why would anyone save at 1.25% fixed for a year forward from now, when you can easily get 1.5% plus on instant access? I will keep my Club Lloyds current account just for the cinema tickets.

Thanks for the update