Regular Savings Accounts: The Best Currently Available List!

cricidmuslibale

RG2015 said:

ZeroSum said:

ForumUser7 said:

typistretired said:

Can’t remember First Direct ever increasing their fixed regular savers to existing savers before and they have doubled the rate. Let’s hope HSBC do the same 

@typistretired Have you seen re the HSBC 5% Regular Saver from December 1st? They've quintupled it!

1% for a reg saver in the current climate is beyond a joke. They had to whack it up quite a bit

The didn't have to do anything as the rate was "fixed". Most other banks have left customers languishing with derisory rates until maturity. Some of these with no option to withdraw.

HSBC are to be applauded for quintupling the rate.

Yes, on the one hand they should certainly be applauded for quintupling the interest rate, especially on a ‘fixed rate’ account whilst the term of the fix is still ongoing! - raising it by as much as 4% in one go is a very significant jump indeed!

On the other hand, maybe some of that applause should be somewhat muted because, no doubt for very good reasons for themselves, HSBC’s regular savings interest rate had before now been stuck for a long time (relatively speaking) at the very low amount of 1%, whilst the vast majority of regular savings interest rates available elsewhere, including at First Direct, have been a lot higher than this for quite some time now!

ZeroSum

RG2015 said:

ZeroSum said:

ForumUser7 said:

typistretired said:

Can’t remember First Direct ever increasing their fixed regular savers to existing savers before and they have doubled the rate. Let’s hope HSBC do the same 

@typistretired Have you seen re the HSBC 5% Regular Saver from December 1st? They've quintupled it!

1% for a reg saver in the current climate is beyond a joke. They had to whack it up quite a bit

The didn't have to do anything as the rate was "fixed". Most other banks have left customers languishing with derisory rates until maturity. Some of these with no option to withdraw.

HSBC are to be applauded for quintupling the rate.

I wasn't referring to that angle.
My point was more that it should've never been that low in the first place. And (for new applicants at the very least) should've been paying 3%+ 4 or 5 months ago. (Like their sister bank FD)

More so in that Chase were paying 1.5% on instant access well over a year ago. Which rendered a 1% regular saver completely pointless 

RG2015

cricidmuslibale said:

RG2015 said:

ZeroSum said:

ForumUser7 said:

typistretired said:

Can’t remember First Direct ever increasing their fixed regular savers to existing savers before and they have doubled the rate. Let’s hope HSBC do the same 

@typistretired Have you seen re the HSBC 5% Regular Saver from December 1st? They've quintupled it!

1% for a reg saver in the current climate is beyond a joke. They had to whack it up quite a bit

The didn't have to do anything as the rate was "fixed". Most other banks have left customers languishing with derisory rates until maturity. Some of these with no option to withdraw.

HSBC are to be applauded for quintupling the rate.

Yes, on the one hand they should certainly be applauded for quintupling the interest rate; raising it by as much as 4% in one go is a very significant jump indeed!

On the other hand, maybe some of that applause should be somewhat muted because, no doubt for very good reasons for themselves, HSBC’s regular savings interest rate had before now been stuck for a long time (relatively speaking) at the very low amount of 1%, whilst the vast majority of regular savings interest rates available elsewhere, including at First Direct, had moved a lot higher!

Caveat Emptor.

All banks are by definition self interested and I never expect any to act in then interests of their customers. If their interests happen to coincide with mine I will give them credit.

Apologies for the unintended puns above. 

mjv1986

I current have a first direct reg saver with a 1st account current account.

The other day I didn't he nationwide switch offer of £200 without realising I need the account to run.

Once the switch is done, can I just open another 1st current account does anyone know.

I'm guessing my regular saver will stop too.

The £200 is more than the interest I would get (even at 7% as I'll have it in another 3-4% account) but I was just wondering if anyone knew if I could do that.

Thanks 

happybagger

I find it interesting that people were putting money in a 1% fixed rate RS anyway, yes I know rates were generally much lower until recently, but RS rates have been available from other providers throughout, without the restriction of needing a current account at the provider.

Edit: Just realised I'm pretty much agreeing with zerosum above

JamesPeter

Darlington Building Society:

I couldn't see it reported, but the Darlington BS Regular Monthly Saver is now up from 2.5% to 3.5% from 30/11/22. Also the Green Regular Saver showing same interest rate. No interest rate rise yet for the kiddies/teen RS accounts.

The older Special Occasion Saver (no longer available to open) has also increased to 3.5% and earlier 'High Days and Holidays' RS up a measly 0.15% to 2.6%.

 

https://www.darlington.co.uk/savings-accounts/regular-savings-accounts/

Every_Penny_Counts

JamesPeter said:

Darlington Building Society:

I couldn't see it reported, but the Darlington BS Regular Monthly Saver is now up from 2.5% to 3.5% from 30/11/22. Also the Green Regular Saver showing same interest rate. No interest rate rise yet for the kiddies/teen account.

The older Special Occasion Saver (no longer available to open) has also increased to 3.5% and earlier 'High Days and Holidays' RS up a measly 0.15% to 2.6%.

 

Doesn't seem to have been applied yet to existing accounts..... At least, not mine....

Bridlington1

JamesPeter said:

Darlington Building Soc:

I couldn't see it reported, but the Darlington BS Regular Monthly Saver is now up from 2.5% to 3.5% - also Green Regular Saver showing same interest rate. No interest rate rise yet for the kiddies/teen account:

Perfect. I can now bung £750 into the regular monthly saver today and another £750 in tomorrow. Will open the green regular saver over the coming weeks. It's just a shame the postmen start another 48 hour strike today.

moneymikey

Hi all,

Re: Darlington Building Society 

(I haven't been around long enough to post a reply which can include the original screenshot and links, so...)

Anyone looking to pay in today (30th November), please be aware of the following message from Darlington;

"Please be reminded that Darlington Building Society will be closing at 1pm on Wednesday 30th November due to our annual staff conference. Payment requests made before 11am will still be processed on Wednesday, however any made thereafter will not be processed until Thursday 1st December."

moneymikey

moneymikey said:

Hi all,

Re: Darlington Building Society 

(I haven't been around long enough to post a reply which can include the original screenshot and links, so...)

Anyone looking to pay in today (30th November), please be aware of the following message from Darlington;

"Please be reminded that Darlington Building Society will be closing at 1pm on Wednesday 30th November due to our annual staff conference. Payment requests made before 11am will still be processed on Wednesday, however any made thereafter will not be processed until Thursday 1st December."

Apologies, this may only refer to those wishing to withdraw rather than deposit funds.  Just flagging it in case...