Regular Savings Accounts: The Best Currently Available List!

refluxer

happybagger said:

LEEK UNITED BS

An underwhelming RS account but may be of interest to anyone who wishes to remain a member there at minimal effort or cost (as they operate postcode restrictions) as once the initial deposit is made, no further deposits are required.

Open ended
Deposit £0 to £500 pm
1.30%
3 withdrawals p/a

source

Thanks. I'm an existing Leek BS member but I think I'll pass on that one. While I was checking their rates, I noticed that they've put the rate on their Flexible Saver Account up from 1.25% to 1.40%. This account isn't currently available though, so this will only be of interest to existing account holders.

While the new rate isn't great for a RS, that's the second increase this year (unusual to increase rates on a historic account ?) and it at least matches the better EA accounts (Chase and Virgin aside) so I'll keep hold of it for now and hope for further increases, plus that'll also allow me to stay a member. It allows monthly contributions of £1000, which is rare for a RS.

Bridlington1

I've just noticed TSB have raised the interest rate of their monthly saver from 2% to 2.5% and have raised the maximum deposit from £125/mth to £250/mth. It's fixed for 12 months but is easy access and allows early closure, though you can't open more than one within a 12 month period and need a current account to open it.

RG2015

Bridlington1 said:

I've just noticed TSB have raised the interest rate of their monthly saver from 2% to 2.5% and have raised the maximum deposit from £125/mth to £250/mth. It's fixed for 12 months but is easy access and allows early closure, though you can't open more than one within a 12 month period and need a current account to open it.

I guess this is for new accounts only? My existing account is still showing interest of 2.00%.

My terms say that the interest rate is fixed, although Virgin Money have previously raised interest rates on "fixed" rate regular savings accounts.

Wheres_My_Cashback

Bridlington1 said:

I've just noticed TSB have raised the interest rate of their monthly saver from 2% to 2.5% and have raised the maximum deposit from £125/mth to £250/mth. It's fixed for 12 months but is easy access and allows early closure, though you can't open more than one within a 12 month period and need a current account to open it.

For those that may consider closing their current £125 Monthly Saver.....

If you close your Monthly Saver before the end of the 12 month term, you won't be able to open another account before the first anniversary of this account

dingling68

Bridlington1 said:

I've just noticed TSB have raised the interest rate of their monthly saver from 2% to 2.5% and have raised the maximum deposit from £125/mth to £250/mth. It's fixed for 12 months but is easy access and allows early closure, though you can't open more than one within a 12 month period and need a current account to open it.

I was waiting for the new issue after my last one closed a few months ago so thank you for the heads up 

where_are_we

RG2015 said:

Bridlington1 said:

I've just noticed TSB have raised the interest rate of their monthly saver from 2% to 2.5% and have raised the maximum deposit from £125/mth to £250/mth. It's fixed for 12 months but is easy access and allows early closure, though you can't open more than one within a 12 month period and need a current account to open it.

I guess this is for new accounts only? My existing account is still showing interest of 2.00%.

My terms say that the interest rate is fixed, although Virgin Money have previously raised interest rates on "fixed" rate regular savings accounts.

I am "locked into" the old TSBMS @ 2%. At least you can close the account with no loss of interest. Once I can access better than 2% I will be "gone". I doubt if TSB will raise the existing 2% interest rate for existing MS accounts, however they could change their rules and allow you to open a new MS @2.5% immediately after closing the old MS @2% but I do not expect TSB to implement this benevolent act!

Special_Saver2

Hi Everybody,

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

- Cumberland BS Regular Saver (Issue 3) interest rate increased to 1.45%
- Cumberland BS First Home Saver Account (Issue 2) interest rate increased to 1.45%
- TSB Monthly Saver interest rate increased to 2.5% for new accounts and maximum monthly deposit increased to £250 per month
- Progressive BS Children's Clockwork Regular Saver (Issue 1) interest rate increased to 1.75%
- Mansfield BS Young Regular Saver (3rd Issue) interest rate increased to 2.2%
- Dudley BS Young Regular Saver interest rate increased to 2.1%
- Suffolk BS Nature Reserve Regular Saver withdrawn and removed from page 1 of this thread
- Chorley BS Children's Regular Saver (Issue 2) interest rate increased to 1.5%
- Hanley Economic BS Home Deposit Saver interest rate increased to 2.8%

Thanks for the information on the Leek United account paying 1.3%. I have decided to increase the threshold for inclusion on this thread to 1.4% for accounts with particularly favourable terms and conditions (and 1.75% for other accounts, as before) from now onwards given the latest interest rate rise. There are two accounts on page 1 paying 1.3% and if they do not increase their interest rate by the end of the month then I will remove them.

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

mhoc

I have a Coventry regular saver 5 maturing early August and apparently issue 5 is still available at 1.80% variable - are there any rumours of a new regular saver 6 with an increased interest rate?? 
Apparently I've earned the magnificent sum of £41.89 in interest The proceeds of this I will probably put into a Coventry loyalty bond 3 which hopefully be still around at the start of August. 

[Deleted User]

Loughborough BS Flexible Save To Buy

This account was quite competitive when I opened it in May 2019. It's an open time RS with a max balance of 24K. In September 2020 the interest rate dropped to 1.5pc, still quite competitive at that time. There have been no increases in the rate to reflect recent base rate changes. It remains at 1.5pc. I have asked if there is any proposal in the pipeline to increase the rate but only received a vague reply that interest rates are always under review etc etc. Disappointing, as this account has conditions on withdrawal and other requirements.

subjecttocontract

Santander regular saver pays 2.5%......only available to Santander customers.
Up to £200 pcm max.