Regular Savings Accounts: The Best Currently Available List!

Bridlington1

According to moneyfacts, Saffron BS is about to launch a new issue of their small saver account at 3%:

Descrabled

Saffron

It might be that a new (or possibly the existing loyalty R S) is about to surface at 2.55%, c.f existing 2.05% for £50 to £500 per month.  Do we all have to go through the rigmarole of restarting the account?

subjecttocontract

Are you serious ?    I don't understand how £50 a month for 12 months @ 3% which = £10 in interest is attractive enough to get anyone out of bed in the morning !

Bridlington1

subjecttocontract said:

Are you serious ?    I don't understand how £50 a month for 12 months @ 3% which = £10 in interest is attractive enough to get anyone out of bed in the morning !

It works out to being about £3.42 better off than keeping the money in the top easy access account. Since I'll be out of bed in the morning anyway I personally would rather have the extra £3.42.

mhoc

An odd one.
My Monmouthshire reg saver is due to mature early September so as we were going to be away I logged on but there was no means to give maturity instructions online. I messaged them mid August to say I wanted to open a new regular saver issue 6 2.25% with £250 and the residue of the maturing old reg saver being returned to me.
Just opening the post from the last fortnight today, starting to catch up on the domestic admin and there is a letter from MBS regarding maturity instructions which can be done online or via snail mail but the options are not to re-open a new regular saver - now the only options seems to be either a one year fixed rate 2.75% or 2 year  3.10% fixed rate bond. OK, both of these do look better options than the regular saver issue 6 with 2.25%.
What has happened in the meantime - was the regular saver 6 withdrawn altogether in the last fortnight? 
Looking on line there is now a new issue 10 regular saver bond 2.25% but that is only for in branch  or agencies - you cant open online. I assume that once someone is in branch they can try and sell them another product at the same time as opening new account thus generating income (which the regular savers dont do for them) 
Oh well it would only have earned £36.48 in interest anyway and its one less standing order to keep track of.
 https://www.monbs.com/products/regular-saver-bond/

10_66

mhoc said:

An odd one.
My Monmouthshire reg saver is due to mature early September so as we were going to be away I logged on but there was no means to give maturity instructions online. I messaged them mid August to say I wanted to open a new regular saver issue 6 2.25% with £250 and the residue of the maturing old reg saver being returned to me.
Just opening the post from the last fortnight today, starting to catch up on the domestic admin and there is a letter from MBS regarding maturity instructions which can be done online or via snail mail but the options are not to re-open a new regular saver - now the only options seems to be either a one year fixed rate 2.75% or 2 year  3.10% fixed rate bond. OK, both of these do look better options than the regular saver issue 6 with 2.25%.
What has happened in the meantime - was the regular saver 6 withdrawn altogether in the last fortnight? 
Looking on line there is now a new issue 10 regular saver bond 2.25% but that is only for in branch  or agencies - you cant open online. I assume that once someone is in branch they can try and sell them another product at the same time as opening new account thus generating income (which the regular savers dont do for them) 
Oh well it would only have earned £36.48 in interest anyway and its one less standing order to keep track of.
 https://www.monbs.com/products/regular-saver-bond/

mhoc, did they not reply to your secure message?  I only ask because in the past, I've used the form that was included in the maturity letter, and although the regular saver isn't listed on that, I've entered the details on it myself, and they've done as you have asked them in your message to them, ie opened the new account from the maturing funds, and then returned the rest.  Try calling them to confirm whether they'll do that for you, as they've definitely done it in the past.

dekkard

Bridlington1 said:

According to moneyfacts, Saffron BS is about to launch a new issue of their small saver account at 3%:

How small do you have to be to be eligible? 

10_66

JamesRobinson48 said:

...Dunno why they've made it branch only:  surely it's not so attractive a rate as to attract vast hordes of online or postal applicants. After all, the Mon BS also has a one year bond offering a better fixed rate :(2.7%) than either RS (2.25%).  Anyhow, anyone with a Mon Issue 5 maturing imminently will presumably be unable to open a new Mon RS with any part of the maturity proceeds.

They still may permit by post, especially as existing customer.  When they opened mine a couple of years' ago as mentioned in my post above, it was a branch account at the time.  Might possibly have been because of Covid restrictions at the time.

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 September 2022.  

Their online issue 1, will pay 2.55% on balances £7,501 - £25,000, 2.05% £2,501 - £7500.00 and 1.85% £1 - £2,500.00. (Closed issue).  

Their branch-based issue 1, will pay 2.90% on balances £7,501 - £25,000, 2.40% £2,501 - £7500.00 and 1.90% £1 - £2,500.00. (Closed issue).  

Their current online issue 2, will pay 2.50% on balances £7,501 - £25,000, 2.00% £2,501 - £7500.00 and 1.80% £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 

mhoc

JamesRobinson48 said:

mhoc said:

An odd one.
My Monmouthshire reg saver is due to mature early September so as we were going to be away I logged on but there was no means to give maturity instructions online. I messaged them mid August to say I wanted to open a new regular saver issue 6 2.25% with £250 and the residue of the maturing old reg saver being returned to me.
Just opening the post from the last fortnight today, starting to catch up on the domestic admin and there is a letter from MBS regarding maturity instructions which can be done online or via snail mail but the options are not to re-open a new regular saver - now the only options seems to be either a one year fixed rate 2.75% or 2 year  3.10% fixed rate bond. OK, both of these do look better options than the regular saver issue 6 with 2.25%.
What has happened in the meantime - was the regular saver 6 withdrawn altogether in the last fortnight? 
Looking on line there is now a new issue 10 regular saver bond 2.25% but that is only for in branch  or agencies - you cant open online. I assume that once someone is in branch they can try and sell them another product at the same time as opening new account thus generating income (which the regular savers dont do for them) 
Oh well it would only have earned £36.48 in interest anyway and its one less standing order to keep track of.
 https://www.monbs.com/products/regular-saver-bond/

Correct:  The Monmouthshire BS RS Issue 6 was issued on 17 August, withdrawn on 24 August, and immediately replaced with the new Issue 7 (see link below). Issue 7 is very similar to the erstwhile Issue 6 except that, as you mentioned, Issue 7 can only be opened in a branch or agency.

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

Dunno why they've made it branch only:  surely it's not so attractive a rate as to attract vast hordes of online or postal applicants. After all, the Mon BS also has a one year bond offering a better fixed rate :(2.7%) than either RS (2.25%).  Anyhow, anyone with a Mon Issue 5 maturing imminently will presumably be unable to open a new Mon RS with any part of the maturity proceeds.

thank you, at least I know I was not imagining things - so issue 6 was only available for a week - no mention in the message I received from them so even the staff didnt know. Anyway I've opted for a 2 year bond with the maturity funds  such as they are but I might put a small amount into a 1 year one as well - only one other account now maturing in 2022.