Regular Savings Accounts: The Best Currently Available List!

Kazza242

Leeds Building Society have launched a new Regular Saver (issue 37), paying 3.70% (Gross p.a/AER variable).

The account matures on the 2nd February 2025.  

The minimum operating balance is £100.  You can deposit up to £250 per month. 

The maximum account balance is £6,000 (plus accrued interest credited to the account).

The account can be opened online, branch or post.  The account can be operated in branch or by post (some operations can also be carried out online or by telephone).

It allows one penalty-free withdrawal per calendar year (including account closure).  Further withdrawals (including account closure) will be subject to 30 days' loss of interest on an equivalent amount to that withdrawn.

If the account balance falls below £100, the rate of interest that will apply is 0.05%.

https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

Band7

Kazza242 said:

Leeds Building Society have launched a new Regular Saver (issue 37), paying 3.70% (Gross p.a/AER variable).

The account matures on the 2nd February 2025.  

The minimum operating balance is £100.  You can deposit up to £250 per month. 

The maximum account balance is £6,000 (plus accrued interest credited to the account).

The account can be opened online, branch or post.  The account can be operated in branch or by post (some operations can also be carried out online or by telephone).

It allows one penalty-free withdrawal per calendar year (including account closure).  Further withdrawals (including account closure) will be subject to 30 days' loss of interest on an equivalent amount to that withdrawn.

If the account balance falls below £100, the rate of interest that will apply is 0.05%.

https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

If you already have an earlier issue of the Leeds RS, you can just call them on 03450 50 50 75 and ask for it to be changed to issue 37. The maturity date of the changed account is Feb 2 2025, so you get the full 2 years, and have a head start with your existing balance. If you go for this option, don't forget to update any existing standing order.

soulsaver

Band7 said:

Kazza242 said:

Leeds Building Society have launched a new Regular Saver (issue 37), paying 3.70% (Gross p.a/AER variable).

The account matures on the 2nd February 2025.  

The minimum operating balance is £100.  You can deposit up to £250 per month. 

The maximum account balance is £6,000 (plus accrued interest credited to the account).

The account can be opened online, branch or post.  The account can be operated in branch or by post (some operations can also be carried out online or by telephone).

It allows one penalty-free withdrawal per calendar year (including account closure).  Further withdrawals (including account closure) will be subject to 30 days' loss of interest on an equivalent amount to that withdrawn.

If the account balance falls below £100, the rate of interest that will apply is 0.05%.

https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

If you already have an earlier issue of the Leeds RS, you can just call them on 03450 50 50 75 and ask for it to be changed to issue 37. The maturity date of the changed account is Feb 2 2025, so you get the full 2 years, and have a head start with your existing balance. If you go for this option, don't forget to update any existing standing order.

Useful to know, but note they do apply new rates to earlier issues - I get 3.2% on issue 23 which started out at 1.8% iirc without doing owt, & I expect 3.7% showing tomorrow.

refluxer

For any existing customers (minimum 12 months) or new customers living in Cheshire, Derbyshire, Shropshire or Staffordshire (with CW/SK, DE, TF or ST/WS15 postcodes respectively), the Leek Building Society have just increased the rate of their Regular Saver Account to 3.50%.

While the rate isn't the highest, it's on a par or better than some of the RS accounts on page 1 of this thread, plus has the advantages that you can pay in a reasonably high amount each month (£500), the account has a high maximum balance (£50k) with no maturity date and it can be opened and managed online (their recently-launched online banking portal is fairly basic, but functional). They do send you a passbook through the post but presumably you don't have to use it.

The downside to the Leek is that they can be slow to react to interest rate changes (today's increase was as a result of the December BoE meeting for example, although increases have been applied quicker than this in the past) so any increase on Thursday may take a while to be applied (if at all). Also - just be aware that they are still quite a traditional building society so there's a chance that applying as a new customer might involve having to prove your ID by visiting a branch or posting off ID documents.

Here are the details for anyone interested...

• Open to existing customers (minimum 12 months) or new customers living in Cheshire, Derbyshire, Shropshire or Staffordshire (with CW/SK, DE, TF or ST/WS15 postcodes respectively)
• Account can be opened and managed at a branch, online or by post
• Minimum balance (deposit) £1
• Maximum balance £50,000
• Pay in up to £500 per calendar month (no minimum - you don't have to pay in each month)
• Interest is variable, calculated daily and paid annually
• 3 withdrawals max per account year via electronic transfer, internal transfer, cash or cheque
• Closure at any time without penalty

https://www.leekbs.co.uk/savings/1saver3/

happybagger

Purely of note for existing holders of Penrith BS's closed issue Regular Saver 200 account, general interest rate increases implemented today but this account stuck at a low 2.25%

source

Speculator

Looks like Principality are launching a 1 Year Regular Saver Bond (Issue 31) according to Moneyfacts.

Pays 4% and Max £3000 so I assume £250 per month.

Patrington

soulsaver said:

Band7 said:

Kazza242 said:

Leeds Building Society have launched a new Regular Saver (issue 37), paying 3.70% (Gross p.a/AER variable).

The account matures on the 2nd February 2025.  

The minimum operating balance is £100.  You can deposit up to £250 per month. 

The maximum account balance is £6,000 (plus accrued interest credited to the account).

The account can be opened online, branch or post.  The account can be operated in branch or by post (some operations can also be carried out online or by telephone).

It allows one penalty-free withdrawal per calendar year (including account closure).  Further withdrawals (including account closure) will be subject to 30 days' loss of interest on an equivalent amount to that withdrawn.

If the account balance falls below £100, the rate of interest that will apply is 0.05%.

https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

If you already have an earlier issue of the Leeds RS, you can just call them on 03450 50 50 75 and ask for it to be changed to issue 37. The maturity date of the changed account is Feb 2 2025, so you get the full 2 years, and have a head start with your existing balance. If you go for this option, don't forget to update any existing standing order.

Useful to know, but note they do apply new rates to earlier issues - I get 3.2% on issue 23 which started out at 1.8% iirc without doing owt, & I expect 3.7% showing tomorrow.

This was confirmed, to me, by LBS yesterday 

Bridlington1

Speculator said:

Looks like Principality are launching a 1 Year Regular Saver Bond (Issue 31) according to Moneyfacts.

Pays 4% and Max £3000 so I assume £250 per month.

Link to the application form:
https://online.principality.co.uk/Originations/launchpage.aspx?productType=RegularSaver&productCode=6076#!

BestSeagull

How did you do that @Bridlington1 ? 

londoner62

For SO's that were taken on the 1st, should the balances not be updated on the 2nd? Mine appear not to have been updated for Monmouthshire,  H & R and Stafford. Common link appears to be sort code. Any thoughts gang?