Regular Savings Accounts: The Best Currently Available List!

Emily_Joy

Sorry to repeat myself, but does anyone know whether I and the OH need to open a joint current account for withdrawls before applying for joint RS? In other words, if the RS is joint, does the account for withdrawls have to be joint as well? (Perhaps joint easy access saving will also do).. 

trickydicky14

JamesPeter said:

Talking of the Darlington BS , they have upped their rates again from today. Special Occasion Saver now 2.20% (up from 1.95%). Other Reg Savers also upped. Same t&c's as far as I can see.

https://www.darlington.co.uk/savings-accounts/regular-savings-accounts/

Credit to Darlington they have not been backward coming forward so to speak.

trickydicky14

Wheres_My_Cashback said:

where_are_we said:

With increasing interest rates, the fixed 1.75% Virgin Home Buying Coach Regular Savers are now not competitive. Even the Virgin M Plus Saver is now 1.71%. Has anyone closed one of these accounts? Are there any issues? There is no loss of interest. The alternative is reduce the balance to £1 and have a monthly standing order for £1 until maturity.

Virgin have been known to increase RS rates in the past for already open accounts. Let's hope that come 4th Aug or soon after there will be an increase.
Even if not the HBC RS are effectively easy access savings accounts so will still trump other accounts in this category.

Loughborough RS and some Monmouth RS however are now no longer viable unless rates increase.

Time to re-evaluate some S/Os before Monday.

The Monmouth Christmas RS, can you close it down without penalty? I know you can reduce monthly payments but unsure about closure.

Wheres_My_Cashback

trickydicky14 said:

Wheres_My_Cashback said:

where_are_we said:

With increasing interest rates, the fixed 1.75% Virgin Home Buying Coach Regular Savers are now not competitive. Even the Virgin M Plus Saver is now 1.71%. Has anyone closed one of these accounts? Are there any issues? There is no loss of interest. The alternative is reduce the balance to £1 and have a monthly standing order for £1 until maturity.

Virgin have been known to increase RS rates in the past for already open accounts. Let's hope that come 4th Aug or soon after there will be an increase.
Even if not the HBC RS are effectively easy access savings accounts so will still trump other accounts in this category.

Loughborough RS and some Monmouth RS however are now no longer viable unless rates increase.

Time to re-evaluate some S/Os before Monday.

The Monmouth Christmas RS, can you close it down without penalty? I know you can reduce monthly payments but unsure about closure.

Closure not possible so have reduced S/O to the min £10

Descrabled

Monmouthshire Christmas R S

From their summary:

• No withdrawals are permitted until maturity.

• If you close your account before maturity, the account will not qualify for the 1.10% AER/Gross variable interest rate. Any interest you have earned will be calculated at the variable rate of our Easy Saver account.

Wheres_My_Cashback

Descrabled said:

Monmouthshire Christmas R S

From their summary:

• No withdrawals are permitted until maturity.

• If you close your account before maturity, the account will not qualify for the 1.65% AER/Gross variable interest rate. Any interest you have earned will be calculated at the variable rate of our Easy Saver account.

           

Kazza242

Principality Building Society will be increasing the interest rates paid on their First Home Steps online and branch-based regular savers w.e.f. 1st August 2022.  

Their online issue 1, will pay 2.25% on balances £7,501 - £25,000, 1.75% £2,501 - £7500.00 and 1.55% £1 - £2,500.00. (Closed issue).  

Their branch-based issue 1, will pay 2.60% on balances £7,501 - £25,000, 2.10% £2,501 - £7500.00 and 1.60% £1 - £2,500.00. (Closed issue).  

Their current online issue 2, will pay 2.20% on balances £7,501 - £25,000, 1.70% £2,501 - £7500.00 and 1.50% £1 - £2,500.00. (Current issue). Furthermore, their current branch-based version (issue 3) will also pay the same rates as their online issue 2. 

 See here .   

schiff

An unclear message from SKIPTON about the maturity of the 3.50% RS next month. They seem to have gone too far last year and they don't appear to be offering a RS replacement, only a fixed rate bond at an uncompetitive rate.

castle96

true.
"Give us your maturity options on line" - nope that doesn't work
"Or email us...."  tried that.... "we do not accept mail maturity instructions"
phoned them ... "you have to do it yourself at maturity - transfer to nominated account"

IanManc

schiff said:

An unclear message from SKIPTON about the maturity of the 3.50% RS next month. They seem to have gone too far last year and they don't appear to be offering a RS replacement, only a fixed rate bond at an uncompetitive rate.

I agree with you. And it doesn't help that when they say:

"What if I change my mind?

If you’ve chosen the Online Existing Member Regular Saver Issue 1 A you’ll have 21 days after maturity to change your mind and provide an alternative instruction"

they are clearly talking about the 1 year Fixed Rate Member eBond Iss 1 A, because there isn't a new Online Existing Member Regular Saver Issue 1 A to choose!  🙄