Regular Savings Accounts: The Best Currently Available List!

Daliah

happybagger said:

costly arrangements?
it is 2.5% instant access, I think I could cope with the price of a stamp

I get plenty of 2.5% and more without the faff and wastage of posting withdrawal forms and passbooks. It's about a lot more than a stamp.

Wheres_My_Cashback

cosh25 said:

Monmouthshire BS will be launching Issue 6 of their regular savings account tomorrow I believe. Will be 2.25% with a maximum balance of £3000 (£250p/m). Early closure allowed, but will get a lower interest rate. 

Thanks for the heads up, but I'll be passing on this one as instant access accounts are likely to at that rate or higher by year end. As many have recently found out their accounts are somewhat restrictive when stuck with low rates.

trickydicky14

10_66 said:

trickydicky14 said:

10_66 said:

Chadsman said:

When applying for an account online does Stafford Railway post forms to customers and then ask for them to be returned signed or is it a genuine online application process?

No, the application is made online, but manually opened, no hard copy application form needs to be returned to them.

How long does it take SR to ok an application and send out activation code once its submitted on line please.

Applied Friday, opened today.  They send an SMS with your user ID and initial activation code.

I also applied Friday but nothing as yet.

londoner62

trickydicky14 said:

I also applied Friday but nothing as yet.

Ref Stafford Railway

Ditto although I imagine they have been flooded with applicants and guess it might take longer for those who are new members as well.

where_are_we

Stafford Railway Building Society Regular Saver1 payment information can be found online - www.srbs.co.uk - hoover over "contact us" on far right at top - scroll down to "online FAQs" and click - scroll to bottom question "can I pay money into my account online" and click. Remember to use "Business Account" not "Personal Account" together with the other details.

orange-juice

Has anyone stopped contributing to their VM home buyer coach regular savers yet (and pulled the money from them too, and moved it to one of the higher paying easy-access accounts)?

I feel like they're more likely to increase the rate of new RSs, rather than increase existing ones, especially since they're fixed rates.

Just want others to confirm my suspicion first before I do it😅

Daliah

orange-juice said:

Has anyone stopped contributing to their VM home buyer coach regular savers yet (and pulled the money from them too, and moved it to one of the higher paying easy-access accounts)?

I feel like they're more likely to increase the rate of new RSs, rather than increase existing ones, especially since they're fixed rates.

Just want others to confirm my suspicion first before I do it😅

Yes, as reported a few days ago. I have no views on whether they will increase the rate or not but I don't want to wait for something that might never happen. 

Wheres_My_Cashback

JamesRobinson48 said:

cosh25 said:

Monmouthshire BS will be launching Issue 6 of their regular savings account tomorrow I believe. Will be 2.25% with a maximum balance of £3000 (£250p/m). Early closure allowed, but will get a lower interest rate. 

The predicted new RS issue from Monmouthshire BS is now available as indicated above (2.25% fixed rate, one year term, max £250 pm, max £3000 total).  See link:

https://www.monbs.com/products/regular-saver-bond/

The headline rate is OK, however no partial withdrawals are allowed and early closure attracts a heavy interest rate penalty. Another thing that puts me off is that the Mon BS pays a much higher rate (2.7%) on a one year fixed rate bond. The RS account opening process is supposedly online, however it involves a lot of manual keying of personal information (even for an existing registered online customer), and moreover a postal exchange of forms will then be necessary before the account can actually be opened. Frankly I'm uncertain why the Mon BS, or anyone else, would bother with all this.  After all the manual work, the illustrative total interest earned could be a princely £36.48.

Mon BS used to offer good RS, but this isn't one of them as products with higher rates will soon surpass this fix and without restrictions/heavy penalties.

mhoc

I have Monmouthshire regular saver maturing at the end of the month which I've been dithering about. I think though just to make life simple I might just open one of their 2 year bonds which has 3.05% fixed now with £1K  opening balance and then transfer the maturing account in at the end of the month - if MBS allows this .... 
My main irk at the moment is that with the recent flurry of activity a good percentage of my reg savers and bonds mature in August/September 2023 or 2024 .... it would be better to have things maturing over a spread of months 

Gers

JamesRobinson48 said:

cosh25 said:

Monmouthshire BS will be launching Issue 6 of their regular savings account tomorrow I believe. Will be 2.25% with a maximum balance of £3000 (£250p/m). Early closure allowed, but will get a lower interest rate. 

The predicted new RS issue from Monmouthshire BS is now available as indicated above (2.25% fixed rate, one year term, max £250 pm, max £3000 total).  See link:

https://www.monbs.com/products/regular-saver-bond/

The headline rate seems adequate, however no partial withdrawals are allowed and early closure attracts a heavy interest rate penalty. Another thing that puts me off is that the Mon BS offers a much higher rate (2.7%) on a one year fixed rate bond. The RS account opening process is supposedly online, however it involves a lot of manual keying of personal information (even for an existing registered online customer), and moreover a postal exchange of forms will then be necessary before the account can actually be opened. Frankly I'm uncertain why the Mon BS, or anyone else, would bother with all this.  After all the manual work, the illustrative total interest earned could be a princely £36.48.

Regular Saver Bond (Issue 6)

Available in England and Wales.

What's wrong with us in Scotland - I already hold some MBS accounts.

I phoned MBS to ask about this - the agent was perplexed, she's going to escalate this enquiry and ring me back!