Regular Savings Accounts: The Best Currently Available List!

wiseonesomeofthetime

Yeah, I got the email and saw nothing worth posting about. Not a very tantalising email, was it?

Special_Saver2

Hi Folks,

I have changed the following items on page 1 of this thread for this weekend's update.

- Dudley BS Junior Easy Saver withdrawn and removed from page 1
- Nationwide BS Start to Save (Issue 2) added to page 2
- Melton BS Jubilee Regular Saver withdrawn and removed from page 1
- Coventry BS Regular Saver (Issue 5) interest rate increased to 1.8% from 1st July
- Coventry BS First Home Saver interest rate increased to 1.65% from 1st July
- Darlington BS Teen Goal Saver interest rate increased to 2.7% from late June

I have not quite finished updating the list but I need to go now - I will finish the update later!

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Special_Saver2

Hi Folks,

I have changed the following items on page 1 of this thread for this weekend's update.

- Dudley BS Junior Easy Saver withdrawn and removed from page 1
- Nationwide BS Start to Save (Issue 2) added to page 1
- Melton BS Jubilee Regular Saver withdrawn and removed from page 1
- Coventry BS Regular Saver (Issue 5) interest rate increased to 1.8% from 1st July
- Coventry BS First Home Saver interest rate increased to 1.65% from 1st July
- Darlington BS Teen Goal Saver interest rate increased to 2.7% from late June
- Darlington BS Darly Young Saver interest rate increased to 2.2% from late June
- Darlington BS Special Occasion Saver interest rate increased to 1.95% from late June
- Darlington BS Green Regular Saver interest rate increased to 1.55% from late June
- Earl Shilton BS Regular Monthly Saver interest rate increased to 1.75% from 1st July
- Nationwide FlexDirect Account (feeder account section) interest rate increased to 5% for the first 12 months followed by 0.25% thereafter on balances up to £1,500
- Nottingham BS Fixed Summer Saver withdrawn and removed from page 1
- Nottingham BS Seasonal Saver (Issue 3) added to page 1 paying 1.5% fixed on up to £300 per month until 14th November 2023 but no withdrawals allowed (a significant issue, particularly with interest rates rising at the moment)
- Penrith BS Junior Affinity Regular Saver (children only) interest rate increased to 2.95% from June
- Saffron BS Small Saver (Issue 4) added to page 1, members only, paying 2.3% fixed on up to £50 per month for 12 months (cannot be held at the same time as their other regular saver account which pays 2.05% on up to £500 per month for 12 months)

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
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

kaMelo

Just noticed that The Cumberland have upped their regular saver rates but, like their previous rate rises it's nothing to get too excited about.
Both the First Home Saver and Regular Saver are now at 1.45%, up by 0.15%.

Daliah

I had a "we missed you" message from my Virgin Money Home Buying Coach app today 

kaMelo

Daliah said:

I had a "we missed you" message from my Virgin Money Home Buying Coach app today 

Me too    Although seeing it made me do some thinking and some mental maths.

Given the respective interest rates of Virgin's M saver (1.55%) and Homebuyer Regular Saver (1.75&)  I come to the conclusion the Homebuyer RS only generates around £5 extra which does raise the effort/reward question going forward as to what rate any regular saver needs to be for the effort required.

Bobblehat

I believe Stafford Railway Building Society may shortly announce that their Regular Saver Issue1 will increase from 1.3% to 1.55% on 1st August. Let's see if this was just a ruse to delay me from pulling out my savings or lowering my monthly deposits 

Section62

kaMelo said:

Daliah said:

I had a "we missed you" message from my Virgin Money Home Buying Coach app today 

Me too    Although seeing it made me do some thinking and some mental maths.

Given the respective interest rates of Virgin's M saver (1.55%) and Homebuyer Regular Saver (1.75&)  I come to the conclusion the Homebuyer RS only generates around £5 extra which does raise the effort/reward question going forward as to what rate any regular saver needs to be for the effort required.

Virgin have in the past increased the interest rate on their previous-issue fixed-rate RS accounts*.

I'd take the view that not only is 1.75% more than 1.55%, there's also a chance that 1.75% might become something like 2% if that is where the market is headed.  If so, the more in the account(s), the more that might be gained.

(*Prior to the CYBG 'merger' IIRC, so not guaranteed to be repeated.)

Edit: added "fixed-rate" for clarification.

soulsaver

Bobblehat said:

I believe Stafford Railway Building Society may shortly announce that their Regular Saver Issue1 will increase from 1.3% to 1.55% on 1st August. Let's see if this was just a ruse to delay me from pulling out my savings or lowering my monthly deposits 

Too little, too late for me. I was on the cusp when they eventually went to 1.3;  +0.25% will help me avoid the hassle of passbook based  postage withdrawal palaver but it isn't good enough to keep me paying in - there's several easy/ish access options above that now.
eta 'withdrawal' for clarity

Bobblehat

soulsaver said:

Bobblehat said:

I believe Stafford Railway Building Society may shortly announce that their Regular Saver Issue1 will increase from 1.3% to 1.55% on 1st August. Let's see if this was just a ruse to delay me from pulling out my savings or lowering my monthly deposits 

Too little, too late for me. I was on the cusp when they eventually went to 1.3;  +0.25% will help me avoid the hassle of passbook based  postage palaver but it isn't good enough to keep me paying in - there's several easy/ish access options above that now.

I hear what you are saying! I'm up to my comfortable limit on what I have already locked away at much higher rates (non-RS). Due to the present 1.3% quickly sliding into the lack-lustre category, I called SRBS today to see what withdrawal/low pay-in options I had and they threw me a Googly with the pending increased interest rate announcement. So I'll will have to make my mind up soon if there is much mileage in moving the RS money into short notice savings etc.