Regular Savings Accounts: The Best Currently Available List!

t1redmonkey

The Nationwide Start to Save issue 2 is 3.5% from today as well.

phillw

Daliah said:
If the Saffron 3% account is no good for you, don’t have it but don’t assume it’s no good for other people.

A 3% regular saver is no good for anyone who likes money.

wmb194 said:
I'm definitely keeping it with a minimum balance because,

I have just a standard saving account with them so that I qualify as a customer, the point I was making was that their regular saver rates are pretty poor compared to other regular savers available & even easy access accounts.

kaMelo

phillw said:

Daliah said:
If the Saffron 3% account is no good for you, don’t have it but don’t assume it’s no good for other people.

A 3% regular saver is no good for anyone who likes money.

wmb194 said:
I'm definitely keeping it with a minimum balance because,

I have just a standard saving account with them so that I qualify as a customer, the point I was making was that their regular saver rates are pretty poor compared to other regular savers available & even easy access accounts.

The 3% offered by Saffron for their regular saver isn't high in comparison to other regular savers currently available however it is higher than any available easy access savings account. Money in the Saffron Regular Saver is available without an interest penalty should you wish to move it to a higher paying account if one becomes available.

The margins are small, Al Rayan @2.81%  HSBC @2.96 or Saffron @3% and it is always horses for courses but as long as Saffron is paying more I don't see why you wouldn't avail yourself of it considering how simple it is to open, deposit and should you need to, withdraw from it.

kaMelo

Maturity instructions letter arrived today for the Principality Christmas Regular Saver, sadly there is no maturity option to take another one for next year. I'm slightly disappointed as this was the only reason I had kept this years account in place.

Every_Penny_Counts

kaMelo said:

Maturity instructions letter arrived today for the Principality Christmas Regular Saver, sadly there is no maturity option to take another one for next year. I'm slightly disappointed as this was the only reason I had kept this years account in place.

I seem to remember that it wasn’t offered in their letter last year either but was available online in the maturity area a few days after the letters arrived. 

EPC

Kazza242

Wheres_My_Cashback said:

Wheres_My_Cashback said:

Kazza242 said:

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.   

I have it on good authority that the FHS online 1 rate will be updated on 01/11.

New rates confirmed from Today....very disappointing PBS !!!! May as well close down this issue and open the latest version 2 or wait to see what the base rate rise is on the 3rd and move elsewhere from then.

Interest rate information

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	2.15% (Variable)
Tier 2	£2,500.01 - £7,500.00	2.35% (Variable)
Tier 3	£7,500.01 - £25,000.00	2.85% (Variable)

I'm not surprised that The Principality have chosen not to increase their First Home Steps Online issue 1 (closed issue) interest rate tiers to the same rates as their current issues.

 If they were going to keep the closed issue rates inline with the current issues, they would have applied all the rate changes on the 13th October 2022.

Wheres_My_Cashback

Kazza242 said:

Wheres_My_Cashback said:

Wheres_My_Cashback said:

Kazza242 said:

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.   

I have it on good authority that the FHS online 1 rate will be updated on 01/11.

New rates confirmed from Today....very disappointing PBS !!!! May as well close down this issue and open the latest version 2 or wait to see what the base rate rise is on the 3rd and move elsewhere from then.

Interest rate information

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	2.15% (Variable)
Tier 2	£2,500.01 - £7,500.00	2.35% (Variable)
Tier 3	£7,500.01 - £25,000.00	2.85% (Variable)

I'm not surprised that The Principality have chosen not to increase their First Home Steps Online issue 1 (closed issue) interest rate tiers to the same rates as their current issues.

 If they were going to keep the closed issue rates inline with the current issues, they would have applied all the rate changes on the 13th October 2022.

Not really logical though as you could close Issue 1 on the 29/11 deposit 1.5K, then again 2 days later and you have 3% though most wouldn't think of doing that... assuming the rate change on Weds hasn't shaken things up dramatically.

Kazza242

Wheres_My_Cashback said:

Kazza242 said:

Wheres_My_Cashback said:

Wheres_My_Cashback said:

Kazza242 said:

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.   

I have it on good authority that the FHS online 1 rate will be updated on 01/11.

New rates confirmed from Today....very disappointing PBS !!!! May as well close down this issue and open the latest version 2 or wait to see what the base rate rise is on the 3rd and move elsewhere from then.

Interest rate information

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	2.15% (Variable)
Tier 2	£2,500.01 - £7,500.00	2.35% (Variable)
Tier 3	£7,500.01 - £25,000.00	2.85% (Variable)

I'm not surprised that The Principality have chosen not to increase their First Home Steps Online issue 1 (closed issue) interest rate tiers to the same rates as their current issues.

 If they were going to keep the closed issue rates inline with the current issues, they would have applied all the rate changes on the 13th October 2022.

Not really logical though as you could close Issue 1 on the 29/11 deposit 1.5K, then again 2 days later and you have 3% though most wouldn't think of doing that... assuming the rate change on Weds hasn't shaken things up dramatically.

I already have both online issues of this account (Principality).  Issue 1 is on tier 3 and issue 2 will be on tier 3 soon.   
 

Wheres_My_Cashback

Kazza242 said:

Wheres_My_Cashback said:

Kazza242 said:

Wheres_My_Cashback said:

Wheres_My_Cashback said:

Kazza242 said:

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.   

I have it on good authority that the FHS online 1 rate will be updated on 01/11.

New rates confirmed from Today....very disappointing PBS !!!! May as well close down this issue and open the latest version 2 or wait to see what the base rate rise is on the 3rd and move elsewhere from then.

Interest rate information

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	2.15% (Variable)
Tier 2	£2,500.01 - £7,500.00	2.35% (Variable)
Tier 3	£7,500.01 - £25,000.00	2.85% (Variable)

I'm not surprised that The Principality have chosen not to increase their First Home Steps Online issue 1 (closed issue) interest rate tiers to the same rates as their current issues.

 If they were going to keep the closed issue rates inline with the current issues, they would have applied all the rate changes on the 13th October 2022.

Not really logical though as you could close Issue 1 on the 29/11 deposit 1.5K, then again 2 days later and you have 3% though most wouldn't think of doing that... assuming the rate change on Weds hasn't shaken things up dramatically.

I already have both online issues of this account (Principality).  Issue 1 is on tier 3 and issue 2 will be on tier 3 soon.   
 

They allowed you to open two different online issues ? 

Kazza242

Wheres_My_Cashback said:

Kazza242 said:

Wheres_My_Cashback said:

Kazza242 said:

Wheres_My_Cashback said:

Wheres_My_Cashback said:

Kazza242 said:

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.   

I have it on good authority that the FHS online 1 rate will be updated on 01/11.

New rates confirmed from Today....very disappointing PBS !!!! May as well close down this issue and open the latest version 2 or wait to see what the base rate rise is on the 3rd and move elsewhere from then.

Interest rate information

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	2.15% (Variable)
Tier 2	£2,500.01 - £7,500.00	2.35% (Variable)
Tier 3	£7,500.01 - £25,000.00	2.85% (Variable)

I'm not surprised that The Principality have chosen not to increase their First Home Steps Online issue 1 (closed issue) interest rate tiers to the same rates as their current issues.

 If they were going to keep the closed issue rates inline with the current issues, they would have applied all the rate changes on the 13th October 2022.

Not really logical though as you could close Issue 1 on the 29/11 deposit 1.5K, then again 2 days later and you have 3% though most wouldn't think of doing that... assuming the rate change on Weds hasn't shaken things up dramatically.

I already have both online issues of this account (Principality).  Issue 1 is on tier 3 and issue 2 will be on tier 3 soon.   
 

They allowed you to open two different online issues ? 

Yes, they did.  

The T&Cs state:

•  You can’t have more than one of this issue number of First Home Steps Online in your name
•  You can only have one of the current issue number of First Home Steps Online in your name. 
  

There's nothing to stop someone having different issue numbers of this product (just like their other regular savers).  

Note: You would only be eligible for the Celebratory £500 bonus on one of the FHS accounts and not both (if you took out a qualifying mortgage with the Principality and provided you meet the other criteria).

See T&Cs here.