Regular Savings Accounts: The Best Currently Available List!

ForumUser7

soulsaver said:

Reg_Smeeton said:

The reported increase for the Stafford Railway Building Society Regular Saver Issue1 to 3.75% variable from 1st January 2023 now confirmed on their website https://srbs.co.uk/savings/detail/regular-saver-issue-1

Funny how things pan out, this was one of my top payers when I opened it in August, now languishing in the relegation places despite the increase!

For the uninitiated: SRBS turn on and off post code restrictions to new customers/applicants, as they see fit. It's local limited atm.

It’s a shame they don’t allow it for existing customers

kaMelo

Reg_Smeeton said:

The reported increase for the Stafford Railway Building Society Regular Saver Issue1 to 3.75% variable from 1st January 2023 now confirmed on their website https://srbs.co.uk/savings/detail/regular-saver-issue-1

Funny how things pan out, this was one of my top payers when I opened it in August, now languishing in the relegation places despite the increase!

Thanks for that. I view these types of open ended regular saver slightly differently than the usual twelve month offerings. Even though the rate became rather uncompetitive I still kept it going as ultimately it's a long term account. Just like The Cumberland open ended regular saver was uncompetitive for a while it is paying off now off in the long term..

Bridlington1

Reg_Smeeton said:

The reported increase for the Stafford Railway Building Society Regular Saver Issue1 to 3.75% variable from 1st January 2023 now confirmed on their website https://srbs.co.uk/savings/detail/regular-saver-issue-1

Funny how things pan out, this was one of my top payers when I opened it in August, now languishing in the relegation places despite the increase!

Looks like I'll be putting £500 into SRBS on 31/12/22 then. Followed by another £500 the next day. Glad I kept this account in my collection now.

Reg_Smeeton

Yes will be hanging on to the SRBS RS, and likewise the Vernon BS RS ISA too, just reduced my standing orders to the minimum pay-in whilst I can fill other accounts with better rates. Not least because if nothing else they were both a bit of a faff to set up!

We seem to be experiencing a similar glut of new best paying regular saving accounts as we did with fixed rate savers a couple of months ago. Will be interesting to see when and where it tops out.

Wheres_My_Cashback

Principality FHS Online Issue 1 (NLA) rate increase from today. Good news for those already holding £25K.

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	3.05% (Variable)
Tier 2	£2,500.01 - £7,500.00	3.25% (Variable)
Tier 3	£7,500.01 - £25,000.00	3.75% (Variable)

Issue 2 Online (current issue) appears not to have increased.

Info taken from online banking. No doubt the website will be updated later today.

ForumUser7

Wheres_My_Cashback said:

Principality FHS Online Issue 1 (NLA) rate increase from today. Good news for those already holding £25K.

Tier	Balance	Gross interest rate
Tier 1	£1.00 - £2,500.00	3.05% (Variable)
Tier 2	£2,500.01 - £7,500.00	3.25% (Variable)
Tier 3	£7,500.01 - £25,000.00	3.75% (Variable)

Issue 2 (current issue) appears not to have increased.

Info taken from online banking. No doubt the website will be updated later today.

Seriously hoping they increase rates on accounts that aren't closed to new business before the next BOE rise - 3.50% is no longer competitive on a regular saver

Band7

Bridlington1 said:

Reg_Smeeton said:

The reported increase for the Stafford Railway Building Society Regular Saver Issue1 to 3.75% variable from 1st January 2023 now confirmed on their website https://srbs.co.uk/savings/detail/regular-saver-issue-1

Funny how things pan out, this was one of my top payers when I opened it in August, now languishing in the relegation places despite the increase!

Looks like I'll be putting £500 into SRBS on 31/12/22 then. Followed by another £500 the next day. Glad I kept this account in my collection now.

The 31st is a Saturday - are you sure they will credit your account in December?

Bridlington1

Band7 said:

Bridlington1 said:

Reg_Smeeton said:

The reported increase for the Stafford Railway Building Society Regular Saver Issue1 to 3.75% variable from 1st January 2023 now confirmed on their website https://srbs.co.uk/savings/detail/regular-saver-issue-1

Funny how things pan out, this was one of my top payers when I opened it in August, now languishing in the relegation places despite the increase!

Looks like I'll be putting £500 into SRBS on 31/12/22 then. Followed by another £500 the next day. Glad I kept this account in my collection now.

The 31st is a Saturday - are you sure they will credit your account in December?

If my memory serves me correctly the general Ts&Cs seem to suggest that the payment won't show in online banking straight away but interest will be backdated. To make sure I'm going to do a £1 test payment on 24th. If it goes through alright I'll deposit £499 on 31st, if not the £499 will be deposited on 30th instead.

happybagger

Why not just deposit the full amount on say Wed next week, be certain of it going through. How much difference in interest is there on £500 between the 2.50% in SRBS for 5 days and what you are currently getting? 

Bridlington1

happybagger said:

Why not just deposit the full amount on say Wed next week, be certain of it going through. How much difference in interest is there on £500 between the 2.50% in SRBS for 5 days and what you are currently getting? 

It's more for future reference really. In answer to your second question 3.4p is the difference in interest between SRBS for 5 days and my current rate of interest.