Regular Savings Accounts: The Best Currently Available List!

Reg_Smeeton

Is it just me or does the Regular Saver market seem a bit moribund right now? I’m closing/reducing my funding of almost all of mine given that I can by and large get better rates easy access or 1 yr fixes. 

Nick_C

london21 said:

Just opened the Snatander esaver account offering 2.75%. Money has been sitting in the santander and barclays account gaining nothing.

Now can get some interest whilst I decide where to invest the money. 

Sorry (to others) for going off topic, but do you have the Barclays Rainy Day Saver?  (£5k @ 5pc)

ForumUser7

Reg_Smeeton said:

Is it just me or does the Regular Saver market seem a bit moribund right now? I’m closing/reducing my funding of almost all of mine given that I can by and large get better rates easy access or 1 yr fixes. 

It does! It's a shame, because they used to have quite high rates and favourable withdrawal terms. I guess as loads of people are opening FRBs just now, myself included, the banks are pivoting towards those instead - it's also probably preferable for them because they know the funding cannot be withdrawn all of a sudden. I hope the Regular Saver market comes back to life soon though!

london21

Nick_C said:

london21 said:

Just opened the Snatander esaver account offering 2.75%. Money has been sitting in the santander and barclays account gaining nothing.

Now can get some interest whilst I decide where to invest the money. 

Sorry (to others) for going off topic, but do you have the Barclays Rainy Day Saver?  (£5k @ 5pc)

No had the money in current account gaining nothing. 

I have a large balance so the 5k limit is not enough.

I did have the santander 123 account with 3% years ago until it went so low and then closed it and moved money to current account.

Now that interest rates have started increasing worth the effort to move to the instant access savings account offering 2.75%. Account was opened in minutes. 

kaMelo

london21 said:

Nick_C said:

london21 said:

Just opened the Snatander esaver account offering 2.75%. Money has been sitting in the santander and barclays account gaining nothing.

Now can get some interest whilst I decide where to invest the money. 

Sorry (to others) for going off topic, but do you have the Barclays Rainy Day Saver?  (£5k @ 5pc)

No had the money in current account gaining nothing. 

I have a large balance so the 5k limit is not enough.

I did have the santander 123 account with 3% years ago until it went so low and then closed it and moved money to current account.

Now that interest rates have started increasing worth the effort to move to the instant access savings account offering 2.75%. Account was opened in minutes. 

Surely putting £5000 @ 5% and the remainder @ 2.75% is better?

london21

kaMelo said:

london21 said:

Nick_C said:

london21 said:

Just opened the Snatander esaver account offering 2.75%. Money has been sitting in the santander and barclays account gaining nothing.

Now can get some interest whilst I decide where to invest the money. 

Sorry (to others) for going off topic, but do you have the Barclays Rainy Day Saver?  (£5k @ 5pc)

No had the money in current account gaining nothing. 

I have a large balance so the 5k limit is not enough.

I did have the santander 123 account with 3% years ago until it went so low and then closed it and moved money to current account.

Now that interest rates have started increasing worth the effort to move to the instant access savings account offering 2.75%. Account was opened in minutes. 

Surely putting £5000 @ 5% and the remainder @ 2.75% is better?

Ok will open the Barclays rainy day saver also. Uusally like having my money in 1 savings account but guess a bit of flexibility for the extra £112.5 over 12 months. 

Wheres_My_Cashback

Reg_Smeeton said:

Is it just me or does the Regular Saver market seem a bit moribund right now? I’m closing/reducing my funding of almost all of mine given that I can by and large get better rates easy access or 1 yr fixes. 

The RS market is severely lacking right now. With the current market turmoil it seems banks are more reluctant than ever to offer headline grabbing RS and this past years regukar rate changes have been a warning as not to get tied into restrictive accounts which previously may have been a safer bet.
Prior to and especially during C19 I would be happily paying into 40+RS accounts (circa £13K), now I'm paying into 17, 10 of those £1 to satisfy monthly funding until maturity or wishful rate enhancements.

They've gradually been whittled down since Virgin woke up the market with it's 1% and then Chase with 1.5% followed by Santander at 2.75% with a few others in between. Personally I'd expect a straight 3% from Al Rayan imminently.

The plus side of course is far easier management/admin with fewer accounts. however when the turmoil has been overcome I would expect normal service to resume

london21

kaMelo said:

london21 said:

Nick_C said:

london21 said:

Just opened the Snatander esaver account offering 2.75%. Money has been sitting in the santander and barclays account gaining nothing.

Now can get some interest whilst I decide where to invest the money. 

Sorry (to others) for going off topic, but do you have the Barclays Rainy Day Saver?  (£5k @ 5pc)

No had the money in current account gaining nothing. 

I have a large balance so the 5k limit is not enough.

I did have the santander 123 account with 3% years ago until it went so low and then closed it and moved money to current account.

Now that interest rates have started increasing worth the effort to move to the instant access savings account offering 2.75%. Account was opened in minutes. 

Surely putting £5000 @ 5% and the remainder @ 2.75% is better?

The blue reward account charges £5 each month and need this to open the account, reading that the fee gets returned if one has at least 2 direct debits.

Usually dont like this fee accounts and the 5% interest rate is variable.

As i already bank with barclays will give it a try.

[Deleted User]

Has anyone received maturity papers for Monmouthshire BS Christmas Saver Issue 4? It matures for everyone on 31 October. It may be that Monmouthshire are pondering their options given the current turmoil on rates, hence they are a bit late. Im just concerned my letter has gone missing or something.

From hazy recollection I think Monmouthshire do their maturities by snail mail.

Nick_C

Yes, you pay £5 a month to sign up to Blue Rewards.  You get the £5 refunded if you pay 2 DDs each month.

If Barclays lower the interest rate on the RDS (or other providers match it) you can close the RDS and opt out of Blue Rewards at any time.

Your current account remains the same whether you sign up to Blue Rewards or not.  Technically, the £5 charge is a subscription fee for joining Blue Rewards, it is not (technically) a charge for the current account (although you need a current account to join Blue Rewards).

Even if you were to pay the £5 a month fee, you would still be getting a 3.8% return.

I opened a Barclays Current Account a week ago specifically to take advantage of their RDS.  I've moved a couple of low value DDs across to them.  I will be paying £800 a month by STO in and then withdrawing most of it back to savings.  I have linked Paypal to my Barclays account to ensure two DDs are taken this month.

Again, I know this is off topic, but it is possibly of interest to others who use Regular Savers.