Regular Savings Accounts: The Best Currently Available List!

Rudyson

paul235 said:

ForumUser7 said:

Coventry rates increasing on 1st December https://www.coventrybuildingsociety.co.uk/member/help/member-support/bank-of-england-base-rate.html
https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice-isa.pdf
https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice-savings.pdf

Underwhelming rate changes

But full marks to them for being ready with their changes and informing their customers immediately. The dates of BoE meetings are known in advance, all banks and building socs should be ready in advance for the different possibilities.

Millyonare

Rudyson said:

paul235 said:

ForumUser7 said:

Coventry rates increasing on 1st December https://www.coventrybuildingsociety.co.uk/member/help/member-support/bank-of-england-base-rate.html
https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice-isa.pdf
https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice-savings.pdf

Underwhelming rate changes

But full marks to them for being ready with their changes and informing their customers immediately. The dates of BoE meetings are known in advance, all banks and building socs should be ready in advance for the different possibilities.

Telling customers they'll have to wait a month for an increase to a rubbish new rate is hardly great service. It's like telling someone they'll be having brussel sprouts for tea and you'll like it.

EssexHebridean

I've long since lost track of even the vaguest of ideas how much my Cov RS is going to give me in terms of interest - =however, it will certainly be more than I expected when I opened it at the start of the year! For a RS that lets us dump in £500 a month each, I'm happy enough with it to be honest.  (I did just clear out my limited access (4) into Marcus though!) 

kaMelo

Happy with new rates on Coventry First Home Saver, 2.95% on what is in effect an easy access account. However 3.15% on their regular saver is less appetising considering the money is locked in without access until maturity.

ForumUser7

kaMelo said:

Happy with new rates on Coventry First Home Saver, 2.95% on what is in effect an easy access account. However 3.15% on their regular saver is less appetising considering the money is locked in without access until maturity.

@kamelo I agree with you on that 2.95%. Just in relation to the regular saver, worth checking but I believe you can access funds with a 30 day interest penalty. Not that great though, given lots of higher paying regular savers allow instant penalty free withdrawals

kaMelo

You're absolutely correct regarding the regular saver, 



For some reason I incorrectly thought this was a locked in regular saver. With that information it becomes more like a notice account so a little more attractive at 3.15% if all other higher paying accounts are utilised. 

Speculator

Ecology Regular going up by 0.75% to 2.85% from 7/11

chris_the_bee

Ecology BS raising rate on Regular Saver from 2.1% to 2.85% WEF 7th November

mary

NatWest Digital Regular Saver Account

Can anyone explain why they quote interest for amounts of up to £5,000 and yet by making max monthly payments of £150, you will never reach £5,000 anyway.    I'm sure it's dead obvious so can someone assist please?

cricidmuslibale

mary said:

NatWest Digital Regular Saver Account

Can anyone explain why they quote interest for amounts of up to £5,000 and yet by making max monthly payments of £150, you will never reach £5,000 anyway.    I'm sure it's dead obvious so can someone assist please?

It's simply because this regular saver account does not end after a year as so many do; you can carry on making monthly contributions of up to £150 for as long as you wish to; thus it is possible to eventually reach a balance of £5000 or more. However, any balances above £1000 suffer a dramatic drop in interest payable on amounts above £1000, so most people who have this account will fill it to a maximum balance of £1000 and then move any surplus interest to another suitable account.