Regular Savings Accounts: The Best Currently Available List!

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What has happened in the meantime - was the regular saver 6 withdrawn altogether in the last fortnight?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Correct:  The Monmouthshire BS RS Issue 6 was issued on 17 August, withdrawn on 24 August, and immediately replaced with the new Issue 7 (see link below).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.

where_are_we

Chorley building Society will be increasing their interest rates on 29th September. Full info here - https://www.chorleybs.co.uk/savings-rate-increase-29th-september-2022/

Rather underwhelming! I have a Seasonal Saver, which like the Regular Saver, will increase from 1.4% to 1.75% on 29th September. Since interest rates have been climbing I reduced my SO for SS to £25 a month (no withdrawals or early closure allowed) with the intention of not renewing at maturity. This increase will not change my intention.

reub075

Descrabled said:

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?

I can't see this officially confirmed elsewhere on this thread, but Saffron have released Issue 11 of their Existing Members Regular Saver:

Saffron 12 Month Fixed Rate Members Regular Saver Issue 11 2.55%

https://www.saffronbs.co.uk/savings/regular-savings-accounts/12-month-fixed-rate-members-regular-saver-issue-11

If you have a previous issue of the Regular Saver, and are quick off the mark (i.e. phoning up or Secure Messaging today), you can request conversion from the older issue RS with lower interest rate to this new Issue 11 paying 2.55%

The account number and sort code can be preserved, with today's account balance plus interest (less £500) refunded to nominated account today. £500 can be kept in the converted account and classed as August's deposit, then the account can be funded tomorrow with Septermber's £500 deposit.

Nick_C

@reub075

Thanks so much for this!  I closed Iss 10 16 days ago as I have an instant access tracker account with Skipton that is currently paying 2.1% (sadly, no longer available).

Iss 11 now open and funded, and another £500 will go in tomorrow.

I don't know why Saffron don't save themselves some work and make this variable.

Every_Penny_Counts

reub075 said:

Descrabled said:

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?

I can't see this officially confirmed elsewhere on this thread, but Saffron have released Issue 11 of their Existing Members Regular Saver:

Saffron 12 Month Fixed Rate Members Regular Saver Issue 11 2.55%

https://www.saffronbs.co.uk/savings/regular-savings-accounts/12-month-fixed-rate-members-regular-saver-issue-11

If you have a previous issue of the Regular Saver, and are quick off the mark (i.e. phoning up or Secure Messaging today), you can request conversion from the older issue RS with lower interest rate to this new Issue 11 paying 2.55%

The account number and sort code can be preserved, with today's account balance plus interest (less £500) refunded to nominated account today. £500 can be kept in the converted account and classed as August's deposit, then the account can be funded tomorrow with Septermber's £500 deposit.

Thanks.  One quick call to their 0800 number & all changed into the new issue & balance refunded...

EPC

Daliah

Every_Penny_Counts said

Thanks.  One quick call to their 0800 number & all changed into the new issue & balance refunded...

Same here - so easy to upgrade in a short phone call. Many thanks for the heads up @reub075

where_are_we

reub075 said:

Descrabled said:

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?

I can't see this officially confirmed elsewhere on this thread, but Saffron have released Issue 11 of their Existing Members Regular Saver:

Saffron 12 Month Fixed Rate Members Regular Saver Issue 11 2.55%

https://www.saffronbs.co.uk/savings/regular-savings-accounts/12-month-fixed-rate-members-regular-saver-issue-11

If you have a previous issue of the Regular Saver, and are quick off the mark (i.e. phoning up or Secure Messaging today), you can request conversion from the older issue RS with lower interest rate to this new Issue 11 paying 2.55%

The account number and sort code can be preserved, with today's account balance plus interest (less £500) refunded to nominated account today. £500 can be kept in the converted account and classed as August's deposit, then the account can be funded tomorrow with Septermber's £500 deposit.

If you do it by secure messaging be quick or you will be timed out and have to do it all over again!

Descrabled

Furness 3y RS (no longer available)

Showing 2.2% interest on the account this morning.

Not sure if I want to top-up my £1 a month standing order.  Will see what B of E and Virgin does mid month.

Descrabled

Mansfield from 1st September

Regular Saver 30 (1st Issue).  2.2% available in branch or by post. 30 days notice of withdraw or closure. £10 to £250 per month

Regular ESaver 30 (1st Issue). 2.2% online (Member or Notts, Derby, & S York). 30 days notice withdraw or closure. £10 to £250.

Regular Savers Issue 2 to 6 (no longer available) 2%

Comment:

My regular Savers now pay an agregate 2.3% and that includes a shedload of 1.75% regular savers   So Mansfield is outside my interest (sorry)

Every_Penny_Counts

For those who have it, the Furness 1 yr RS issue 5 is now showing 1.80%.

EPC