Regular Savings Accounts: The Best Currently Available List!

10_66

Bigwheels1111 said:

Called Skipton yesterday to sort out maturity, can’t be done online...

I did mine online, in the maturity options, and received a confirmation email re my choice of withdrawal of funds.

london21

Never heard of Tandem before but seem to be offering 1.65%, tempting to move some funds there as not currently getting anything from Santander.

Other option is topping up my monthly ISA investments. 

Bigwheels1111

london21 said:

Never heard of Tandem before but seem to be offering 1.65%, tempting to move some funds there as not currently getting anything from Santander.

Other option is topping up my monthly ISA investments. 

Tandem are fine, but Shawbrook offer easy access at 1.75% and Al Ryan is 1.8%.

liamcov

With the various Bath BS regular savers, what does 1, 2 etc withdrawals a year mean - is it the calendar year?

Pompeydave1967

Yes in a year , ok if you don’t need to withdrawal £££ often.

Special_Saver2

Hi Everybody,

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

- Added Cambridge BS Reward Regular Saver paying 3% fixed on up to £250 per month for 12 months but it is only for people who have been existing customers for at least 12 months, no withdrawals apart from account closure and that comes with a 90 day interest penalty (and it is explicitly made clear that this means that if you close the account less than 90 days after you opened it then you will get back less money than you deposited), and you cannot open it if you already have another regular saver account with them

- Updated the introduction to remove having a fixed interest rate as a favourable condition that permits inclusion on this list if the account is paying 1.4% interest (in the current environment having a fixed rate appears to be a disadvantage and so unless there is some other favourable condition such as being able to pay in £500 or more per month, or account maturity after 2 years or longer, then fixed rate accounts will not be given special treatment and they will need to meet the current minimum interest rate of 1.75% for inclusion in this thread)

Given this week's Bank of England interest rate rise of 0.5%, I will be reviewing the 1.4% and 1.75% thresholds later this month for accounts to be included on page 1 of this thread once I have seen what the banks and building societies do with their interest rates (I acknowledge they may not pass on the rate increase in full to savers).

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

Not sure when it happened but The Cumberland have increased rates on their regular and first home saver, up to 1.65% on both. From what I can gather this is in response to previous BoE rate rises, savings rates are currently "under review" in response to the latest rate rise from BoE.



Off Topic.
Sadly their mortgage holders are not getting the same review, 0.5% rate rise passed on in full from September. 

Descrabled

Cumberland

The regular savers were paying 1% when the BoE rate was 0.1%. The 0.65% increase to 1.65% over the time that the BoE increased rates by 1.15% to 1.25%. Over the same period my easy access saver went from 0.6% to 1.0% for my £1. Just saying.

kaMelo

I don't disagree, in fact it's actually worse than that. Prior to Covid the base rate was 0.5%, Cumberland were paying 2.55%/2.65% on their regular/first home saver, both over 2% above base rate.  If only that were the case now.

veryintrigued

Coventry RS5 up to 2% on the 1/9