Regular Savings Accounts: The Best Currently Available List!

ForumUser7

CooperSF said:

Will I get the 7% as a new customer?

@coopersf According to MSE, yes 'First Direct's currently offering newbies to its 1st Account* a free £175 to switch – so if you've been thinking about switching banks, now could be a great time, as you'll also get access to its 7% regular saver once your account's set up.' ~ https://www.moneysavingexpert.com/news/2022/11/first-direct-regular-saver-interest-rate-doubled/?_ga=2.13291444.2007125789.1668445313-1426905684.1664732070&_gl=1*wr7nmc*_ga*MTQyNjkwNTY4NC4xNjY0NzMyMDcw*_ga_X74CWQS9F0*MTY2OTcxNDQ4MS41Ny4xLjE2Njk3NDY1MTUuMzMuMC4w

CooperSF

Thank you, all.

typistretired

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 

ForumUser7

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!

adindas

I got the confirmation of rate Increase to 7% from firsta Direct via text today.

SFindlay

HSBC have already announced they are raising from 1% to 5% from 1st December including for existing customers.

cricidmuslibale

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 

Question: When is a fixed interest rate not in fact a fixed interest rate?

Answer: When First Direct double it and HSBC quintuple it!

We may be hearing this question and answer on some quiz show or other in the near future!

Sensory

Edge cases where these 'fixed rate' increases push people into a higher tax bracket, wiping out the gain and resulting in a net loss.

ZeroSum

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

cricidmuslibale

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

I couldn’t agree more! So that now leaves Hanley Economic Building Society languishing very clearly at the bottom of the regular savings market with their 1.1% account. All their ‘many’ members must now surely be champing at the bit for a similar increase very soon!