Regular Savings Accounts: The Best Currently Available List!

Section62

cricidmuslibale said:

If I may for a moment refer to the title of this fairly longstanding and usually very valuable thread, I strongly believe right now that in this current climate of constantly rising interest rates most of us savers should be very wary of saving in fixed rate regular savings accounts that last for one year or more, unless the fixed interest rate in question is at least c.1.25% above the leading easy access rate. So, at this moment I personally wouldn't put any money whatsoever into a fixed rate regular saver paying less than 3.5%, even if that regular saver was from a bank or building society that I normally have a lot of time for!

More important is whether the account allows withdrawals without (excessive) penalty.

There is no special reason to avoid RS accounts paying less than 3.5% interest if the account allows you to take that money elsewhere if better rates do appear down the line. (Although some people will expect a better margin to allow for the hassle of opening and closing accounts)

The thread title is "...The Best Currently Available List" - I think it is a good idea to stick with that for now.

tg99

Anyone know if I close early my 1.75% fixed virgin homebuyer Reg saver would I get interest accrued up until date of closure or is there any penalty / loss of interest? (Couldn’t see any reference to this in terms so believe should get full accrued interest.)

wmb194

tg99 said:

Anyone know if I close early my 1.75% fixed virgin homebuyer Reg saver would I get interest accrued up until date of closure or is there any penalty / loss of interest? (Couldn’t see any reference to this in terms so believe should get full accrued interest.)

Yes, that's no problem, you'll receive your accrued interest and there's no penalty. You can do it online. In the withdrawals section there's an option to close your account.

Daliah

Deleted_User said:

I see Charter are doing 2.25% instant access, minimum £5,000. Will need to move my ZOPA money across, have to commit to a 3 month notice period to get the same rate.

Neither of these two accounts are Regular Saver accounts. Please use the appropriate threads - Easy Access and Notice accounts.

Kazza242

Santander have launched Regular eSaver (issue 16) paying 2.75% (fixed).  

It allows you to save up to £200 per month.  Withdrawals are permitted.

https://www.santander.co.uk/personal/savings-and-investments/savings/regular-esaver

Growingold

Kazza242 said:

Santander have launched Regular eSaver (issue 16) paying 2.75% (fixed).  

It allows you to save up to £200 per month.  Withdrawals are permitted.

https://www.santander.co.uk/personal/savings-and-investments/savings/regular-esaver

It also allows you to upgrade by closure an existing Reg eSaver.  You request closure by online chat and then when it has closed you can open a new  one.

How do I open and manage my account?

To open the account you must be:

• a Santander current account customer, excluding 1|2|3 Mini In Trust
• a UK resident aged 16 or over
• signed up for Online or Mobile Banking

You can only have one Regular eSaver per customer. If you’d like to change your Regular eSaver to the current issue, you’ll need to close your existing Regular eSaver before opening a new one. Find out how on our ‘Closing an account’ page.

londoner62

Suffolk BS

1 Year regular saver, fixed 2.75% £10>£500 p/m, easy access, restricted to residents of IP, NR, CO, CM, CB or PE

https://www.suffolkbuildingsociety.co.uk/savings-products/1-year-regular-saver-31-12-2023/ 

ForumUser7

Nationwide has released some new rates, but also appear to have withdrawn their FlexRegularSaver to new applicants. The Start to Save Issue 2 rate appears to have remained the same.
nationwide-increases-savings-rates-across-fixed-rate-and-triple-access-products

cricidmuslibale

ForumUser7 said:

Nationwide has released some new rates, but also appear to have withdrawn their FlexRegularSaver to new applicants. The Start to Save Issue 2 rate appears to have remained the same.
nationwide-increases-savings-rates-across-fixed-rate-and-triple-access-products

Wow! I'm actually quite impressed with Nationwide for once! The 2 and 3 year fixed rate online bonds pay what are presently very good interest rates of 4.50% and 4.75% respectively! - I think the interest rate for the 3 year online bond is at this moment better than any other currently available 3 year fixed rate account! 

MovingForwards

Might not make the list but Virgin M saver is up 2% (2.02 AER) from 03/10, balances upto £25k but needs the current account which is paying the same rate on upto £1k.