Regular Savings Accounts: The Best Currently Available List!

happybagger

Snapdragon, as you know the account number, you can make payments into SRBS using the details on their Standing Order mandate form, it's on their page here 

Descrabled

Chorley (No longer available)

Seasonal Saver increases to 1.75% on 29th September.  So much behind time.  Probably the BoE will have had another increase mid September and competitors will be increasing interest rates.  Obviously Chorley considers mortgages more important than savers.

veryintrigued

Dudley BS

One year RS (amongst others) increased from 1.5 to 1.65.

https://www.dudleybuildingsociety.co.uk/savings/existing-customers/saving-rate-changes/

wiseonesomeofthetime

veryintrigued said:

Dudley BS

One year RS (amongst others) increased from 1.5 to 1.65.

https://www.dudleybuildingsociety.co.uk/savings/existing-customers/saving-rate-changes/

Yeah, however, as the link suggests, that is for existing customers only.

The current available RS product is a meagre 1.30% variable.

I wonder who actually opens RS like these, where the rate is actually less than that available on many easy access savings accounts. There must be a market, else why even offer them 🤷‍♂️

happybagger

New rates announced for Bath BS from 1 October 2022

Disappointing only a 0.2% rise in the basic RS account.

Rates here

veryintrigued

veryintrigued said:

karlie88 said:

Can confirm above is true re: Furness 3 year reg saver. Will be 2.2% from 1st Sept.

Has this been confirmed by them via website / email etc?

Any update on the source here please?

10_66

Section62 said:

Virgin have in the past increased the interest rate on their previous-issue fixed-rate RS accounts*.

I'd take the view that not only is 1.75% more than 1.55%, there's also a chance that 1.75% might become something like 2% if that is where the market is headed.  If so, the more in the account(s), the more that might be gained.

(*Prior to the CYBG 'merger' IIRC, so not guaranteed to be repeated.)

Edit: added "fixed-rate" for clarification.

Can you remember the last time Virgin increased their fixed rate on these?  I'm trying to decide whether to ditch them now, but having just been bitten by withdrawing from Loughborough Flexible Save to Buy a day or two before they increased the rate (though that was variable rate), I'm not sure what to do now 

ColdIron

August 2018 I think

10_66

Many thanks ColdIron.

CompulsiveSaver

wiseonesomeofthetime said:

veryintrigued said:

Dudley BS

One year RS (amongst others) increased from 1.5 to 1.65.

https://www.dudleybuildingsociety.co.uk/savings/existing-customers/saving-rate-changes/

Yeah, however, as the link suggests, that is for existing customers only.

The current available RS product is a meagre 1.30% variable.

I wonder who actually opens RS like these, where the rate is actually less than that available on many easy access savings accounts. There must be a market, else why even offer them 🤷‍♂️

I have been wondering the same, there are so many that have quite low rates compared to instant access accounts; especially when you look at the market leader Regular Savers now pay 5%. I would just want to understand the logic of saving in them?
The best I can come up with is... there are people who have been members for decades, and that is the best rate available in that society and it keeps the membership ticking over on the bare minimum e.g. £20 a month? I just don't understand why the society are looking to achieve with such poor rates as it can't be attracting much money.