Regular Savings Accounts: The Best Currently Available List!

where_are_we

Leeds Building Society - RS @1.95% - unhappy with their antiquated withdrawal system, I decided to close RS and only option was a cheque withdrawal. Few days later, inside Nationwide I joined the queue for depositing the cheque at the machine only to discover that there is a £2000 limit on depositing cheques by that method! Queue to cashiers was even longer. "C`est la vie"!

Money is now inside Santander E Saver@2.75%.

I am gradually going through RS`s and ditching those below 2.75%.

Wheres_My_Cashback

Deleted_User said:

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.

Isn't it sent out 14 days prior to maturity ? I wouldn't personally expect mine for another few days yet. I'll be glad to ditch this and get those funds elsewhere along with the Bond 5 next month (which hasn't been paid into for months).

[Deleted User]

Wheres_My_Cashback said:

Deleted_User said:

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.

Isn't it sent out 14 days prior to maturity ? I wouldn't personally expect mine for another few days yet. I'll be glad to ditch this and get those funds elsewhere along with the Bond 5 next month (which hasn't been paid into for months).

Agree. I've got 12K languishing in the Christmas Saver at 2.05 pc. Can't get it out until maturity. I stupidly carried on paying in the maximum monthly payment even when it became uncompetitive. I will check the terms of any rollover account carefully. My fault for taking my eye off the ball. It's difficult keeping all plates in the air when you have loads of accounts (sorry for mixed metaphor).

Section62

Deleted_User said:

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.

Yes, I got mine in the post yesterday.

The options are -

1) Transfer funds to another Monmouthshire account

2) Transfer funds to an external account.

The default if no option is selected is the account will mature into an "Easy Saver - Issue 1" paying 0.85%.

No mention of a new Christmas Saver or any other products.

Edit: Letter just dated "September 2022"

SFindlay

Deleted_User said:

Wheres_My_Cashback said:

Deleted_User said:

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.

Isn't it sent out 14 days prior to maturity ? I wouldn't personally expect mine for another few days yet. I'll be glad to ditch this and get those funds elsewhere along with the Bond 5 next month (which hasn't been paid into for months).

Agree. I've got 12K languishing in the Christmas Saver at 2.05 pc. Can't get it out until maturity. I stupidly carried on paying in the maximum monthly payment even when it became uncompetitive. I will check the terms of any rollover account carefully. My fault for taking my eye off the ball. It's difficult keeping all plates in the air when you have loads of accounts (sorry for mixed metaphor).

To be fair you shouldn't be too bothered, people are quickly forgetting it was only 2 - 3 months ago rates were shocking so at that time you had 9 - 10 K earning pretty much top rate (particularly if also paying into the only ones higher at that time like YBS, Nationwide) as easy access accounts have really only topped 2% in last month. Its almost perfect timing now rates are climbing. as looking at it over the 12 month period we've pretty much been earning top interest each month. It's the next 12 months that RS are going to be a bit of a gamble if you lock into one that doesn't allow withdrawls or closure. 

ForumUser7

SFindlay said:

Deleted_User said:

Wheres_My_Cashback said:

Deleted_User said:

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.

Isn't it sent out 14 days prior to maturity ? I wouldn't personally expect mine for another few days yet. I'll be glad to ditch this and get those funds elsewhere along with the Bond 5 next month (which hasn't been paid into for months).

Agree. I've got 12K languishing in the Christmas Saver at 2.05 pc. Can't get it out until maturity. I stupidly carried on paying in the maximum monthly payment even when it became uncompetitive. I will check the terms of any rollover account carefully. My fault for taking my eye off the ball. It's difficult keeping all plates in the air when you have loads of accounts (sorry for mixed metaphor).

To be fair you shouldn't be too bothered, people are quickly forgetting it was only 2 - 3 months ago rates were shocking so at that time you had 9 - 10 K earning pretty much top rate (particularly if also paying into the only ones higher at that time like YBS, Nationwide) as easy access accounts have really only topped 2% in last month. Its almost perfect timing now rates are climbing. as looking at it over the 12 month period we've pretty much been earning top interest each month. It's the next 12 months that RS are going to be a bit of a gamble if you lock into one that doesn't allow withdrawls or closure. 

Of course different people did different things, but personally all mine allowed withdrawal or closure and had high rates

[Deleted User]

Section62 said:

Deleted_User said:

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.

Yes, I got mine in the post yesterday.

The options are -

1) Transfer funds to another Monmouthshire account

2) Transfer funds to an external account.

The default if no option is selected is the account will mature into an "Easy Saver - Issue 1" paying 0.85%.

No mention of a new Christmas Saver or any other products.

Edit: Letter just dated "September 2022"

Thanks for the heads up. This tends to support recent posts to the effect that institutions are shying away from Regular Savers in the current climate.

chris_the_bee

Deleted_User said:

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.

Mine also mature 31st October. Received letter + form to return by snail mail yesterday (12th) Postmarked 11th 2nd class. There are no follow on options, only cheque or FPS.

Kazza242

Principality Building Society have increased the interest rates paid on some of their First Home Steps online and branch-based regular savers (w.e.f. 13th October 2022.):

First Home Steps Online (issue 2) - Current issue

• Now pays 3.50% on balances £7,501 - £25,000, 3.00% £2,501 - £7500.00 and 2.80% £1 - £2,500.00.
• Maximum account balance is £25,000
• The account is available to open and manage online.
• This is a regular savings account for first-time buyers (though they don't verify this)
• The minimum account balance is £1.  The accounts allows you to pay in up to £1,500 per month. 
• Up to 3 penalty-free withdrawals permitted every calendar year.

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-Online

First Home Steps Account (issue 3) - Current issue

• Now pays 3.50% on balances £7,501 - £25,000, 3.00% £2,501 - £7500.00 and 2.80% £1 - £2,500.00.
• Maximum account balance is £25,000
• The account must be opened in the branch or agency.  
• You can manage the account in branch, at an agency, by post, or by using the online service.
• This is a regular savings account for first-time buyers (though they don't verify this)
• The minimum account balance is £1.  The accounts allows you to pay in up to £1,500 per month. 
• Up to 3 penalty-free withdrawals permitted every calendar year.

https://www.principality.co.uk/savings-accounts/everyday-savings-accounts/First-Home-Steps-account

The rate on their closed issue 1, remains unchanged at the moment:  

First Home Steps Online (issue 1) - Closed issue

• Currently pay 2.55% on balances £7,501 - £25,000, 2.05% £2,501 - £7500.00 and 1.85% £1 - £2,500.00.  
• No change to the account interest rate at the moment.

Though information on the Principality Building Society website states that that are still currently working through what the latest BOE base rate increase means for their members.  Therefore, there is a possibility that closed issue rates may change soon too.   

Kazza242

The Principality Building Society Regular Saver Bond (issue 30) now pays 3.25% (fixed).

It allows savers to pay in up to £250 per month.

You cannot make any withdrawals from the account until it matures

You can close the account before it matures. Any interest earned will be added to the account balance and paid to the account holder.

https://www.principality.co.uk/savings-accounts/fixed-term-savings-and-bonds/1-year-regular-saver-bond