Regular Savings Accounts: The Best Currently Available List!

happybagger

Thanks. Made me look at their updates - the closed issue Regular Saver Reward is up to 2.60% on 1 Dec

clivep

cricidmuslibale said:

kaMelo said:

Rather than creating a new issue The Cumberland are just increasing the rates on their existing regular savers.
Regular Saver Issue 3  increases from 2.5% to 4.5%
First Home Saver Issue 2 increases from 2.5% to 3.4%

Whilst they have been generally pretty slow to increase rates over the last year this time it's quite a significant increase. Given that the maximum balance of the account is £15,00 that's not a bad return at all.

Current account and regular saver can be opened online but the First Home Saver needs a branch visit. 

I assume you mean the maximum balance is £15,000 not £15.00! Which of the two accounts does this maximum balance apply to please? - I’m assuming it’s the First Home Saver only and the maximum balance for the Regular Saver is much lower than that?

Otherwise, thank you very much for pointing out the very large, in percentage terms, 2% interest rate increase for the Regular Saver and fairly large 0.9% rate increase for the First Home Saver.

According to the website, the Cumberland Regular Saver does indeed have a £15,000 maximum balance.

silvercar

I've just opened the NatWest digital saver (5%) via the app. Very quick and easy to do.

tr7phil

I have a Regular Saver with Halifax that I've not paid into since July, since their Regular Saver now says it pays 4.5% I was toying with the idea of funding it again but when I login to online banking the rate shows as 1.25% still.

Does anyone know if this will update if I start funding it again or do I need to close it and then open a new one to get the current rate?

refluxer

tr7phil said:

I have a Regular Saver with Halifax that I've not paid into since July, since their Regular Saver now says it pays 4.5% I was toying with the idea of funding it again but when I login to online banking the rate shows as 1.25% still.

Does anyone know if this will update if I start funding it again or do I need to close it and then open a new one to get the current rate?

Halifax Regular Savers usually have a fixed rate of interest which is why your's hasn't increased.

If you're wanting to close it early and open a new one at the higher rate, you'll need to check that you can open more than one a year. You definitely can't for the Kids' Regular Saver but I'm not sure about the adult version.

tr7phil

refluxer said:

tr7phil said:

I have a Regular Saver with Halifax that I've not paid into since July, since their Regular Saver now says it pays 4.5% I was toying with the idea of funding it again but when I login to online banking the rate shows as 1.25% still.

Does anyone know if this will update if I start funding it again or do I need to close it and then open a new one to get the current rate?

Halifax Regular Savers usually have a fixed rate of interest which is why your's hasn't increased.

If you're wanting to close it early and open a new one, you'll need to check that you can open more than one a year. You definitely can't for the Kids' Regular Saver but I'm not sure about the adult version.

Looking at the account, this was opened in July 2018 and I paid the full £250 per month in until June 2022 with each successive year being a worse (but still competitve) rate.  I stopped funding when I did because it was no longer competitive but now it is again I didn't want to risk paying in and only getting 1.25%.  Previously when it matured each year (and the rate was going down) the new rate was already visible on the account but not this time...

wmb194

tr7phil said:

refluxer said:

tr7phil said:

I have a Regular Saver with Halifax that I've not paid into since July, since their Regular Saver now says it pays 4.5% I was toying with the idea of funding it again but when I login to online banking the rate shows as 1.25% still.

Does anyone know if this will update if I start funding it again or do I need to close it and then open a new one to get the current rate?

Halifax Regular Savers usually have a fixed rate of interest which is why your's hasn't increased.

If you're wanting to close it early and open a new one, you'll need to check that you can open more than one a year. You definitely can't for the Kids' Regular Saver but I'm not sure about the adult version.

Looking at the account, this was opened in July 2018 and I paid the full £250 per month in until June 2022 with each successive year being a worse (but still competitve) rate.  I stopped funding when I did because it was no longer competitive but now it is again I didn't want to risk paying in and only getting 1.25%.  Previously when it matured each year (and the rate was going down) the new rate was already visible on the account but not this time...

Close it and open a new one. Use the 'renew' option in the app to make it an instant access savings account and then close that (probably in internet banking, too).

kaMelo

Yes,  Halifax have a rather annoying habit of opening a new regular saver automatically when the previous one matures even when you don't want it.

As above, renew to easy access account, log out and log back in then open new RS.

chris_the_bee

wmb194 said:

tr7phil said:

refluxer said:

tr7phil said:

I have a Regular Saver with Halifax that I've not paid into since July, since their Regular Saver now says it pays 4.5% I was toying with the idea of funding it again but when I login to online banking the rate shows as 1.25% still.

Does anyone know if this will update if I start funding it again or do I need to close it and then open a new one to get the current rate?

Halifax Regular Savers usually have a fixed rate of interest which is why your's hasn't increased.

If you're wanting to close it early and open a new one, you'll need to check that you can open more than one a year. You definitely can't for the Kids' Regular Saver but I'm not sure about the adult version.

Looking at the account, this was opened in July 2018 and I paid the full £250 per month in until June 2022 with each successive year being a worse (but still competitve) rate.  I stopped funding when I did because it was no longer competitive but now it is again I didn't want to risk paying in and only getting 1.25%.  Previously when it matured each year (and the rate was going down) the new rate was already visible on the account but not this time...

Close it and open a new one. Use the 'renew' option in the app to make it an instant access savings account and then close that (probably in internet banking, too).

Don't forget that as a Halifax customer you can use your account details to open similar EA account with Bank of Scotland, also up to £250/month @ 4.5%

Andystriker

wmb194 said:

tr7phil said:

refluxer said:

tr7phil said:

I have a Regular Saver with Halifax that I've not paid into since July, since their Regular Saver now says it pays 4.5% I was toying with the idea of funding it again but when I login to online banking the rate shows as 1.25% still.

Does anyone know if this will update if I start funding it again or do I need to close it and then open a new one to get the current rate?

Halifax Regular Savers usually have a fixed rate of interest which is why your's hasn't increased.

If you're wanting to close it early and open a new one, you'll need to check that you can open more than one a year. You definitely can't for the Kids' Regular Saver but I'm not sure about the adult version.

Looking at the account, this was opened in July 2018 and I paid the full £250 per month in until June 2022 with each successive year being a worse (but still competitve) rate.  I stopped funding when I did because it was no longer competitive but now it is again I didn't want to risk paying in and only getting 1.25%.  Previously when it matured each year (and the rate was going down) the new rate was already visible on the account but not this time...

Close it and open a new one. Use the 'renew' option in the app to make it an instant access savings account and then close that (probably in internet banking, too).

I did this, so I can confirm it does work!