Regular Savings Accounts: The Best Currently Available List!

Band7

Bridlington1 said:

Most of the population of Britain live outside of their operating area, which is a bit of a snag to many of those who wish to open the account. So I personally would have omitted this from a list of top regular savers on this basis, particularly given that I'm already getting 2.81% easy access with Al Rayan at the moment.. 

There are quite a number of Regular Savings accounts which are only available to residents of certain post codes and/or existing customers.

How would you suggest information about these should be handled on this forum, and by whom? Isn't it easy to just read past information that is not applicable to yourself?

happybagger

But if a BS had a locals-only account paying 8% I'd like to hear about it, just in case I was lucky to be in the area / existing customer etc

We're pretty good at fast-skimming posts we aren't interested in here. We have to be. As anyone who isn't eligible for the Lloyds etc RS will testify...

Wheres_My_Cashback

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)

interest_Ted

Furness Building Society

Existing three year regular saver (no longer on sale) - New rate effective today - 2.50%

Ted

rallycurve

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)

Disappointing news indeed. I was expecting them to keep the rate inline with their issue 2 like they've been doing until now. I will definitely be withdrawing money from it

veryintrigued

rallycurve 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)

Disappointing news indeed. I was expecting them to keep the rate inline with their issue 2 like they've been doing until now. I will definitely be withdrawing money from it

Principalitys original Thank You saver rate increases to 3.00 from 2.75 today too.

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.