Regular Savings Accounts: The Best Currently Available List!

bsms1147

Nuggy96 said:

Just opened the TSB monthly saver and didn’t read the summary box and transferred £250 from my Al Rayan, but it says you can only deposit via standing order from a TSB current account. Anyone else have experience with this? The money hasn’t arrived in my TSB and hasn’t bounced back to my Al Rayan yet so kinda worried. Thanks.

also, if I open today, is it the classic I can deposit again on the 1st or have to wait until 22nd?

They're just as happy with SOs from external accounts, and I pay in on the 1st.

tel_

colsten said:

My cut-off before the recent round of interest rate slashing was 2%. I am now going to keep my 1.85% Coventry accounts but only because I have maxed all the 2%+ accounts, and because I can't get a 1-year fix that beats drip-feeding the 1.85% account. If I could get a better return from a 1-year fix, I would be using the 1-year fix. If I didn't have a lump sum and was saving monthly, I would go for anything that pays me more than an instant access account, so as low as 1.3% or so on current rates.

I guess this does come down to how dedicated you are (like yourself colsten), as well as percentage rates.

I know once new accounts are set up with SO's that's it, job done, but some people would find it daunting having so many accounts open, and all those SO's as well.

margaretx9

bsms1147 said:

Nuggy96 said:

Just opened the TSB monthly saver and didn’t read the summary box and transferred £250 from my Al Rayan, but it says you can only deposit via standing order from a TSB current account. Anyone else have experience with this? The money hasn’t arrived in my TSB and hasn’t bounced back to my Al Rayan yet so kinda worried. Thanks.

also, if I open today, is it the classic I can deposit again on the 1st or have to wait until 22nd?

They're just as happy with SOs from external accounts, and I pay in on the 1st.

The terms of the account specify that the payment must be a monthly standing order from your TSB current account. Seems they don't enforce it but they could in theory close the account and not pay the full 2% interest if they wanted to if you funded the account from another source?

So why not funnel the cash via your TSB current account - given you need to pay in £500 anyway into it monthly to get the 3% (soon 1.5%) interest?

https://www.tsb.co.uk/savings/monthly-saver/

[Deleted User]

margaretx9 said:

bsms1147 said:

Nuggy96 said:

Just opened the TSB monthly saver and didn’t read the summary box and transferred £250 from my Al Rayan, but it says you can only deposit via standing order from a TSB current account. Anyone else have experience with this? The money hasn’t arrived in my TSB and hasn’t bounced back to my Al Rayan yet so kinda worried. Thanks.

also, if I open today, is it the classic I can deposit again on the 1st or have to wait until 22nd?

They're just as happy with SOs from external accounts, and I pay in on the 1st.

The terms of the account specify that the payment must be a monthly standing order from your TSB current account. Seems they don't enforce it but they could in theory close the account and not pay the full 2% interest if they wanted to if you funded the account from another source?

So why not funnel the cash via your TSB current account - given you need to pay in £500 anyway into it monthly to get the 3% (soon 1.5%) interest?

https://www.tsb.co.uk/savings/monthly-saver/

I agree. I used to fund my TSB MS from my Santander current account but now fund from my TSB Classic Plus to be on the safe side. On the other hand, I doubt that TSB could legitimately accept funds into a Monthly Saver from another source, which they could after all reject, and further down the line "punish" the account holder by not paying the full 2% interest.

surreysaver

Received a letter yesterday advising my child's Principality Learner Earner paying 4% is reducing to 3.35% from 11th May. Haven't (yet) received any notification regarding my parallel account. 

schiff

Deleted_User said:

margaretx9 said:

bsms1147 said:

Nuggy96 said:

Just opened the TSB monthly saver and didn’t read the summary box and transferred £250 from my Al Rayan, but it says you can only deposit via standing order from a TSB current account. Anyone else have experience with this? The money hasn’t arrived in my TSB and hasn’t bounced back to my Al Rayan yet so kinda worried. Thanks.

also, if I open today, is it the classic I can deposit again on the 1st or have to wait until 22nd?

They're just as happy with SOs from external accounts, and I pay in on the 1st.

The terms of the account specify that the payment must be a monthly standing order from your TSB current account. Seems they don't enforce it but they could in theory close the account and not pay the full 2% interest if they wanted to if you funded the account from another source?

So why not funnel the cash via your TSB current account - given you need to pay in £500 anyway into it monthly to get the 3% (soon 1.5%) interest?

https://www.tsb.co.uk/savings/monthly-saver/

I agree. I used to fund my TSB MS from my Santander current account but now fund from my TSB Classic Plus to be on the safe side. On the other hand, I doubt that TSB could legitimately accept funds into a Monthly Saver from another source, which they could after all reject, and further down the line "punish" the account holder by not paying the full 2% interest.

My TSB is the easiest to run I find. At the time I opened the TSB RS I had a another RS maturing with its SO at TSB. Unaware of the conditions being discussed I started my SO at TSB. So now it's a £500 SO deposit on the FWDOTM from my current account and £250 goes out the same day to TSB and Saffron. Easy.
It takes time to build up a collection of RSs so that those that mature pay the monthly SOs to the open ones. I counted 24 that matured in 2019/20. It will be the same this year, but with less 'income'. 

Ed-1

surreysaver said:

Received a letter yesterday advising my child's Principality Learner Earner paying 4% is reducing to 3.35% from 11th May. Haven't (yet) received any notification regarding my parallel account. 

Yes - I posted this yesterday at 5:30pm. It's the same for adult accounts.

Nothing on Issue 3 though which is still available at 3%.

Descrabled

Cumberland BS

Regular Saver (Issue 3) reducing on 1 May to 2%; presently 2.55%. See pdf on their web site.

surreysaver

Ed-1 said:

surreysaver said:

Received a letter yesterday advising my child's Principality Learner Earner paying 4% is reducing to 3.35% from 11th May. Haven't (yet) received any notification regarding my parallel account. 

Yes - I posted this yesterday at 5:30pm. It's the same for adult accounts.

Nothing on Issue 3 though which is still available at 3%.

Sorry - I missed that!  I don't get the daily thread updates anymore since they downgraded the forum.

ColdIron

surreysaver said:

Ed-1 said:

surreysaver said:

Received a letter yesterday advising my child's Principality Learner Earner paying 4% is reducing to 3.35% from 11th May. Haven't (yet) received any notification regarding my parallel account. 

Yes - I posted this yesterday at 5:30pm. It's the same for adult accounts.

Nothing on Issue 3 though which is still available at 3%.

Sorry - I missed that!  I don't get the daily thread updates anymore since they downgraded the forum.

You could partly restore this by editing your Notification Preferences and checking the following option

• Notify me when people comment on discussions I've participated in.

If this drives you mad you could use the one below, then you can select which thread you want

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