Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Everybody,

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

- Monmouthshire BS Regular Saver Bond added to page 1 paying 2.25% fixed on up to £250 per month for 12 months but you can only withdraw money early by closing the account with an interest penalty, not available in Northern Ireland

- Principality BS 1 Year Regular Saver Bond (Issue 28) added to page 1 paying 2.25% fixed on up to £250 per month for 12 months

I will do the next update the weekend after next.

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

happybagger

interest_Ted said:

I think you will find that they are willing to accept multiple deposits.  If in doubt - suggest a phone call to check. 

I sent a message. They said one deposit per month.

happybagger

where_are_we said:

I have closed all my Regular Savers with Furness BS. Does having a £1 balance in an Every Day Saver ensure I continue to be a member, in the hope that something better might come along?

Yes it does.

[Deleted User]

I have an open-ended  variable rate regular saver with Ecology Building Society with an accumulated balance of about £7000. The interest rate is 1.4% currently. There has been no change since the last base rate rise of 0.5% on 4 August. Early days, I suppose, but I was wondering if anyone else with this account has decided to close it? I have reduced monthly payments to £50 (I could reduce further to £25). Is it worth holding on and waiting? The rate has always been on the unexciting side but never bad enough to cause me to close.

castle96

bin it, plenty better

Bridlington1

Deleted_User said:

I have an open-ended  variable rate regular saver with Ecology Building Society with an accumulated balance of about £7000. The interest rate is 1.4% currently. There has been no change since the last base rate rise of 0.5% on 4 August. Early days, I suppose, but I was wondering if anyone else with this account has decided to close it? I have reduced monthly payments to £50 (I could reduce further to £25). Is it worth holding on and waiting? The rate has always been on the unexciting side but never bad enough to cause me to close.

I'd withdraw all but £25 but keep it open and reduce the monthly payment to £25 as it makes a good direct debit for reward accounts/switching offers. At the moment you can get more than 1.4% as an easy access account so I'd move it into a top paying easy access account and trickle the contents into the much higher paying regular savers.

Edit: On second thoughts see if you can get them to convert it into their easy access account for the direct debit as it works out cheaper in terms of interest lost compared with keeping it in easy access accounts. Still withdraw all but £25 though but reduce the direct debit to £10 if you go for this option.

kaMelo

The Ecology regular saver, notice saver and cash ISA can all be funded via DD but unfortunately as can the easy access account. Minimum deposit into the regular saver is £25 per month.
The Ecology Building Society is not really about offering top rates.




Edited to add;
@Special_Saver2 You're still showing The Cumberland at 1.45% in the list. They increased it to 1.65% for both the regular saver and first home saver a while back.

Bridlington1

kaMelo said:

The Ecology regular saver, notice saver and cash ISA can all be funded via DD but unfortunately the easy access account cannot. Minimum deposit into the regular saver is £25 per month.
The Ecology Building Society is not really about offering top rates.

Correct me if I'm wrong but on page 4 of the terms and conditions for the ecology easy access account under "How do I open and manage my account" it says:

Where the account is opened online, the initial deposit must be made online. For postal applications the initial deposit can be by cheque or bank transfer. All subsequent deposits can be made by bank transfer, Direct Debit or cheque. You can also save monthly by Direct Debit or standing order (the minimum amount payable by Direct Debit is £10).

So you can pay in by direct debit. It just doesn't mention that in the summary box.

kaMelo

Bridlington1 said:

kaMelo said:

The Ecology regular saver, notice saver and cash ISA can all be funded via DD but unfortunately the easy access account cannot. Minimum deposit into the regular saver is £25 per month.
The Ecology Building Society is not really about offering top rates.

Correct me if I'm wrong but on page 4 of the terms and conditions for the ecology easy access account under "How do I open and manage my account" it says:

Where the account is opened online, the initial deposit must be made online. For postal applications the initial deposit can be by cheque or bank transfer. All subsequent deposits can be made by bank transfer, Direct Debit or cheque. You can also save monthly by Direct Debit or standing order (the minimum amount payable by Direct Debit is £10).

So you can pay in by direct debit. It just doesn't mention that in the summary box.

You're not wrong, whilst it used to not be the case it is now possible to put money in all Ecology accounts via DD.  I've edited my previous post for clarity.
That will teach me to read the latest terms and conditions before commenting.

glider3560

Has anyone heard from Bath Building Society about an increase to their rates after the latest BoE increase?

I can't see anything on their website and contemplating withdrawing the balance from my 1.75% regular saver (although don't want to as this account doesn't have a maturity date).