Regular Savings Accounts: The Best Currently Available List!

where_are_we

Thanks James! You are correct. Along with no withdrawals (although early closure is allowed) that makes 2 major differences that Halifax MS has on the rest of the group. Also the Club Lloyds MS is £400 maximum a month and the rest are £250.

easysaver

Lloyds/Halifax/Bank of Scotland
I'd normally open these but I'm holding off due to the impending base rate rise on 22nd September. A Reuters poll had 40/47 economists expecting 0.5% rise, with the other 7 at 0.75%.  The top easy access is 0.35% above the current base rate, if that is repeated we could see easy access at 2.6% (or more) in a week or two.  [FWIW the situation in the US is similar, although most expect 0.75% with some at 1%]
The restriction of only being allowed to open one regular saver per 12 months really gets in the way unlike, for example, Principality where you can open (and close early, if required) one Issue #.

chris_the_bee

The restriction of only being allowed to open one regular saver per 12 months doesn't seem to apply to Halifax RS. I opened RS on 24th Jan and 6th April and closed them on 29th March and 23rd May respectively all in 2022. Also opened a new one yesterday. Log in online, then select 'Savings & Investments' then 'Compare savings accounts', then 'Fixed term'. If the RS is shown as an option for you, then you can open one.

easysaver said:

Lloyds/Halifax/Bank of Scotland
I'd normally open these but I'm holding off due to the impending base rate rise on 22nd September. A Reuters poll had 40/47 economists expecting 0.5% rise, with the other 7 at 0.75%.  The top easy access is 0.35% above the current base rate, if that is repeated we could see easy access at 2.6% (or more) in a week or two.  [FWIW the situation in the US is similar, although most expect 0.75% with some at 1%]
The restriction of only being allowed to open one regular saver per 12 months really gets in the way unlike, for example, Principality where you can open (and close early, if required) one Issue #.

Mee

easysaver said:

Lloyds/Halifax/Bank of Scotland
I'd normally open these but I'm holding off due to the impending base rate rise on 22nd September. A Reuters poll had 40/47 economists expecting 0.5% rise, with the other 7 at 0.75%.  The top easy access is 0.35% above the current base rate, if that is repeated we could see easy access at 2.6% (or more) in a week or two.

Good points.

Opened one LBG reg saver yesterday and then decided to hold off on opening others for the same reason.

Similarly holding off on committing soon to mature fixed rate bond funds for a while.

Daliah

chris_the_bee said:

The restriction of only being allowed to open one regular saver per 12 months doesn't seem to apply to Halifax RS. I opened RS on 24th Jan and 6th April and closed them on 29th March and 23rd May respectively all in 2022. Also opened a new one yesterday. Log in online, then select 'Savings & Investments' then 'Compare savings accounts', then 'Fixed term'. If the RS is shown as an option for you, then you can open one.

It was news to me that you can only open one of each of these in any 12 months period but I don't think I ever tried. I only know that the TSB RS has that restriction but I wouldn't have thought that they still use the same IT system. 

Nick_C

Daliah said:

It was news to me that you can only open one of each of these in any 12 months period but I don't think I ever tried. I only know that the TSB RS has that restriction but I wouldn't have thought that they still use the same IT system. 

It's always been there in the T&Cs.  And it was discussed on this thread in February.

Unfortunately, there are so many irrelevant uninformative posts on this thread that it's easy to miss the important stuff.

https://forums.moneysavingexpert.com/discussion/comment/78993644/#Comment_78993644

Kazza242

According to Moneyfacts, Principality Building Society are launching issue 29 of their 1 Year Regular Saver Bond at 2.80%

Minimum opening deposit £20.  Deposit £1 - £250 per month.  

It should appear here once it has launched.

Nick_C

Kazza242 said:

According to Moneyfacts, Principality Building Society are launching issue 29 of their 1 Year Regular Saver Bond at 2.80%

Minimum opening deposit £20.  Deposit £1 - £250 per month.  

It should appear here once it has launched.

Many many thanks for posting.  It's on line now.  No withdrawals, but you can close the account early. 

Special_Saver2

Hi Folks,

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

- Leeds BS Regular Saver (Issue 32) replaces issue 31, paying 1.95% variable until 1st September 2024 on up to £250 per month

- Principality BS 1 Year Regular Saver Bond (Issue 29) replaces issue 28, paying 2.8% fixed for 12 months on up to £250 per month

- Saffron BS 12 Month Fixed Rate Members Regular Saver (Issue 11) replaces issue 10, paying 2.55% fixed for existing members for 12 months on up to £500 per month

- Allied Irish Banks Regular Saver interest rate increased to 2.5% variable on up to £500 per month for 12 months (although the account can be opened online, you need to have a current account or Select savings account with them and these accounts have to be opened in branch)

- Lloyds Club Lloyds Monthly Saver added to page 1, paying 2.75% fixed on up to £400 per month for 12 months for Club Lloyds account holders, if you close the account early then you cannot open another one until 12 months after you opened this account

- Lloyds Monthly Saver added to page 1, paying 2.5% fixed on up to £250 per month for 12 months for Lloyds current account holders, if you close the account early then you cannot open another one until 12 months after you opened this account

- Halifax Regular Saver added to page 1, paying 2.5% fixed on up to £250 per month for 12 months, no withdrawals except for account closure, the account will automatically renew after 12 months (with the balance including interest transferred into another savings account) which means you do not have to close this account and open a new regular savings account at the end of the 12 months

- Bank of Scotland Monthly Saver added to page 1, paying 2.5% fixed on up to £250 per month for 12 months, unlimited penalty-free withdrawals allowed, if you close the account early then you cannot open another one until 12 months after you opened this account

I have updated the interest rate thresholds to use for inclusion on page 1 of this thread. From now on, I am including accounts with an interest rate of 2.25% or higher, or 1.75% if the account has favourable conditions (e.g. you can pay in £500 per month or more, or if the account matures after at least 2 years). I have reviewed all of the accounts on page 1 including the current interest rates and removed any that do not meet these criteria.

I will do the next update either next weekend or 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

vernall

Are Lloyds and Halifax calendar monthly or account opening monthly for future payments?......in other words if I open today, can next payment in be on 1/10 or 18/10