Regular Savings Accounts: The Best Currently Available List!

phillw

kaMelo said:
There is no requirement to pay anything into the account once you reach £1000.

Is there a requirement to pay anything into the account even before you reach £1000?

Millyonare

LZC said:

Special_Saver2 said:

Hi Folks,

- I have noted the comments about it being irritating for some people to see accounts that are only available to local people, and I also note other comments that it is great if you happen to live in one of the areas where there is a great account. I would also add that some accounts that are open to locals only are also available to existing members and I am aware that some readers of this thread may have an old regular savings account with certain building societies when it was easy to open them from a distance. I have put in bold in the special conditions section if an account is only available to locals or existing customers to draw attention to this. I have an idea... I have just re-organised each post on page 1 into two sections - "Accounts available to all UK residents" and "Accounts only for people who live locally or existing members". This has allowed me to remove a lot of bold type as I no longer need to put in bold that an account is available for locals and existing members. I think these changes make the first page easier to read and better organised, plus people who are not interested in the locals and existing members accounts can skip straight past those sections (or skim through those sections quickly to see if they live in the right area).

SS2

---

First off as a long time reader can I thank you for all the work that’s gone into this thread. It’s really appreciated. You’re an absolute star. 

I think the splitting out of the local/existing members is a good idea but I should point out that the Saffron Small Saver is available to all UK residents (I opened one earlier this year as not only was it competitive but if I held it for a year it would also qualify me for future local/members only accounts).

If you were to reorganise again I’d be in favour of splitting out the children’s/age restricted accounts as well but I don’t want to create extra work for you, so that maybe more one for the future. 

Not sure why people are getting "irritated" by somebody posting free and timely info for the "whole of market" savings world. Just scroll past if it's a hyperlocal or child account. Takes ~5 seconds to skimread and move on to the next one.

Please keep posting "everything" on this thread.

It is great to see the "whole of market" and know the 100% totality of the savings industry. Info is power. Even if I can't subscribe to that Dudley Building Society account, it is (very) useful to know what they offer everywhere in the UK, benchmark it against my own accounts, and track whether my rates are good, average, or bad, and if I need to do anything about it.

Sensory

phillw said:

kaMelo said:
There is no requirement to pay anything into the account once you reach £1000.

Is there a requirement to pay anything into the account even before you reach £1000?

Their Savings Accounts Rates information sheets include the following: “There’s no minimum deposit to open the account (maximum deposit is £150) however you’ll need to set up a standing order from your NatWest Current Account of between £1 and £150 each calendar month into the account.”

Anything above £150 “may” be moved to your current account, and no interest is paid in the month of account closure.

What actually happens if there is no standing order, or if there are no deposits, in a calendar month… is probably nothing.

refluxer

Millyonare said:

LZC said:

Special_Saver2 said:

Hi Folks,

- I have noted the comments about it being irritating for some people to see accounts that are only available to local people, and I also note other comments that it is great if you happen to live in one of the areas where there is a great account. I would also add that some accounts that are open to locals only are also available to existing members and I am aware that some readers of this thread may have an old regular savings account with certain building societies when it was easy to open them from a distance. I have put in bold in the special conditions section if an account is only available to locals or existing customers to draw attention to this. I have an idea... I have just re-organised each post on page 1 into two sections - "Accounts available to all UK residents" and "Accounts only for people who live locally or existing members". This has allowed me to remove a lot of bold type as I no longer need to put in bold that an account is available for locals and existing members. I think these changes make the first page easier to read and better organised, plus people who are not interested in the locals and existing members accounts can skip straight past those sections (or skim through those sections quickly to see if they live in the right area).

SS2

---

First off as a long time reader can I thank you for all the work that’s gone into this thread. It’s really appreciated. You’re an absolute star. 

I think the splitting out of the local/existing members is a good idea but I should point out that the Saffron Small Saver is available to all UK residents (I opened one earlier this year as not only was it competitive but if I held it for a year it would also qualify me for future local/members only accounts).

If you were to reorganise again I’d be in favour of splitting out the children’s/age restricted accounts as well but I don’t want to create extra work for you, so that maybe more one for the future. 

Not sure why people are getting "irritated" by somebody posting free and timely info for the "whole of market" savings world. Just scroll past if it's a hyperlocal or child account. Takes ~5 seconds to skimread and move on to the next one.

Please keep posting "everything" on this thread.

It is great to see the "whole of market" and know the 100% totality of the savings industry. Info is power. Even if I can't subscribe to that Dudley Building Society account, it is (very) useful to know what they offer everywhere in the UK, benchmark it against my own accounts, and track whether my rates are good, average, or bad, and if I need to do anything about it.

I'm not sure what post you were reading, but what I read was a polite first post from @LZC, thanking Special_Saver2 for their efforts, a mention of a minor correction to the Saffron Small Saver details/category and a polite suggestion for children's regular savers to have their own category if any further re-organisation was carried out in the future, which is a perfectly valid request IMO, as the majority of the readers of this thread will be adults requiring adult accounts.  

At no point in their post did they request the omission of any information, nor did they appear irritated.

kaMelo

phillw said:

kaMelo said:
There is no requirement to pay anything into the account once you reach £1000.

Is there a requirement to pay anything into the account even before you reach £1000?

It's a bit grey whether it is an absolute requirement under £1000. As mentioned, you'll be asked to set up a standing order when you apply which would suggest it is but I can't see anything specific in the terms to suggest you will be penalised if you don't.

There is however an answer in the FAQ's stating you no longer need to pay in once you reach £1000.

The only thing i would say is, the account cannot be bettered @5% so I see no reason why someone who does not have £1000 in there already would choose not to pay into it as much as you can.

t1redmonkey

There's a 4.5% regular saver with Cumberland BS from tomorrow.  I'm a bit unsure on the requirements.  You have to have a current account with them, but not clear if anyone can open the current account or if you have to be local, if anyone wants to investigate feel free

Bridlington1

t1redmonkey said:

There's a 4.5% regular saver with Cumberland BS from tomorrow.  I'm a bit unsure on the requirements.  You have to have a current account with them, but not clear if anyone can open the current account or if you have to be local, if anyone wants to investigate feel free

You have to live in their operating area to open a current account.

Descrabled

Cumberland RS

Cumberland usually insist that you open a regular saver in one of their branches.

soulsaver

t1redmonkey said:

There's a 4.5% regular saver with Cumberland BS from tomorrow.  I'm a bit unsure on the requirements.  You have to have a current account with them, but not clear if anyone can open the current account or if you have to be local, if anyone wants to investigate feel free

How do I open and manage my account?

This account is available to open for Cumberland Plus current account customers only who live in our operating area.

Kazza242

According to Moneyfacts, Furness Building Society will be launching their Regular Saver (issue 5) account, paying 4.00%

It allows monthly deposits of £1 - £250 per month.  One withdrawal is permitted per year. 

The account runs for one year.  The total maximum investment is £3,000.

The account can be opened in branch or via post.

https://www.furnessbs.co.uk/savings/regular-saver