Regular Savings Accounts: The Best Currently Available List!

ForumUser7

Patrington said:

Re Loughborough (but is relevant to any RS)

My monthly contribution is currently just set at the minimum - due to poor rates.

At the end of each month (my contributions to my many RS go out at the beginning of the month) I check the rates of the various RS I pay into compared to the best Instant Access I hold.

If the RS rate is lower I:

Reduce to minimum / stop payment (where possible)

Withdraw balance (again where rules of account allow).

In these dynamic rate times it's a little more effort than the previous few years but still worthwhile I feel.

@patrington re loughborough BS, when I asked, they said you can skip monthly payments whenever you wish, so you could probably stop your monthly contribution if you wanted to

Patrington

ForumUser7 said:

Patrington said:

Re Loughborough (but is relevant to any RS)

My monthly contribution is currently just set at the minimum - due to poor rates.

At the end of each month (my contributions to my many RS go out at the beginning of the month) I check the rates of the various RS I pay into compared to the best Instant Access I hold.

If the RS rate is lower I:

Reduce to minimum / stop payment (where possible)

Withdraw balance (again where rules of account allow).

In these dynamic rate times it's a little more effort than the previous few years but still worthwhile I feel.

@patrington re loughborough BS, when I asked, they said you can skip monthly payments whenever you wish, so you could probably stop your monthly contribution if you wanted to

Thanks - I had £10.- £1000 as my contribution min and max on my records for my Flex Monthly Saver.

ForumUser7

Patrington said:

ForumUser7 said:

Patrington said:

Re Loughborough (but is relevant to any RS)

My monthly contribution is currently just set at the minimum - due to poor rates.

At the end of each month (my contributions to my many RS go out at the beginning of the month) I check the rates of the various RS I pay into compared to the best Instant Access I hold.

If the RS rate is lower I:

Reduce to minimum / stop payment (where possible)

Withdraw balance (again where rules of account allow).

In these dynamic rate times it's a little more effort than the previous few years but still worthwhile I feel.

@patrington re loughborough BS, when I asked, they said you can skip monthly payments whenever you wish, so you could probably stop your monthly contribution if you wanted to

Thanks - I had £10.- £1000 as my contribution min and max on my records for my Flex Monthly Saver.

I was talking about the RSI 1

For yours, the 2.50% Flexible Monthly Saver, it says 2.50% ***Rate if at least 9 monthly payments are made and only three withdrawals annually and ^Regular monthly savings required. Interest rate subject to Terms and Conditions

Additionally that product still says Flexible Monthly Saver £10-£500^***, not £10-£1000

chris_the_bee

ForumUser7 said:

Bridlington1 said:

ForumUser7 said:

Kazza242 said:

TSB have increased the interest rate on their Monthly Saver Account to 5.00% (fixed gross/AER).

Save between £25 - £250 per month.  The maximum total investment is £3,000.  

Unlimited withdrawals are permitted.

The account can be opened online or in branch.  It runs for 12 months.

The account is available to new and existing TSB current account customers only.

https://www.tsb.co.uk/savings/monthly-saver/?WT.ac=A00428

Has anyone found a way around the one each 12 months rule please? Or does the system just not let you open a new one?

There doesn't seem to be a way round this one. This is the thing that irritates me about TSB, they've managed to stop you opening 2 regular savers within a 12-month period yet their systems go into a funk if you open more than one current account with them.

Oh well - mine matures in May, but it's at 2% - thank goodness for penalty free withdrawals!

You can close it at any time, but will not be able to open another until the maturity date of the original/previous one.

chris_the_bee

Band7 said:

ranciduk said:

Today TSB upped their monthly saver to 5%

But not for existing account holders. And there's no way to sunset existing accounts. You have to sit out existing accounts to maturity. If you prefer, you can, however, withdraw your balance and put it to better use elsewhere.

I closed mine after 9 months,

happybagger

Patrington said:

Re Loughborough (but is relevant to any RS)

My monthly contribution is currently just set at the minimum - due to poor rates.

At the end of each month (my contributions to my many RS go out at the beginning of the month) I check the rates of the various RS I pay into compared to the best Instant Access I hold.

If the RS rate is lower I:

Reduce to minimum / stop payment (where possible)

Withdraw balance (again where rules of account allow).

In these dynamic rate times it's a little more effort than the previous few years but still worthwhile I feel.

With the on-sale RS account there is no need to monthly fund it, but I left it at £10 to keep it active. I do still have £2k in there though waiting until 1 Feb at the latest just in case they do a "Stafford Railway". It's a bit of a faff withdrawing from LoughBS due to postal only, so for the sake of waiting until next week I decided to leave it.

I agree with your methods, I regularly withdraw from any lower paying RS accounts to cover the next month's deposits into higher payers. Coventry's Home Saver blew a (nice) hole in my plans with its £1k pm deposit.

Watching Mansfield carefully as they're on my radar next week too, if the 3% doesn't jump.

Patrington

Dudley Building Society 

One Year Regular Saver Online

Withdrawn issue rate raised to 3.2% today.

Available issue 2 - 3%

Section62

Patrington said:

Dudley Building Society 

One Year Regular Saver Online

Withdrawn issue rate raised to 3.2% today.

Available issue 2 - 3%

Does anyone know what the withdrawn issue rate was prior to this increase please?

I've got 2.4% in my spreadsheet, but as it increased to that rate on 06/10/2022 I think I might have missed a previous rate increase.  I also can't find any information on Dudley's website about previous rates.

Patrington

Section62 said:

Patrington said:

Dudley Building Society 

One Year Regular Saver Online

Withdrawn issue rate raised to 3.2% today.

Available issue 2 - 3%

Does anyone know what the withdrawn issue rate was prior to this increase please?

I've got 2.4% in my spreadsheet, but as it increased to that rate on 06/10/2022 I think I might have missed a previous rate increase.  I also can't find any information on Dudley's website about previous rates.

2.7% previously 

Section62

Patrington said:

Section62 said:

Patrington said:

Dudley Building Society 

One Year Regular Saver Online

Withdrawn issue rate raised to 3.2% today.

Available issue 2 - 3%

Does anyone know what the withdrawn issue rate was prior to this increase please?

I've got 2.4% in my spreadsheet, but as it increased to that rate on 06/10/2022 I think I might have missed a previous rate increase.  I also can't find any information on Dudley's website about previous rates.

2.7% previously 

Thanks, much appreciated.