Regular Savings Accounts: The Best Currently Available List!

TiVo_Lad

Be aware with the Principality Regular Saver that you only have 5 working days to fund the account. You only need £1, but if you miss this window, the account automatically closes. Shouldn't be an issue for most but if you're used to slightly longer funding windows this might catch you out.

soulsaver

Patrington said:

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withdrawals (including account closure) will be subject to 30 days' loss of interest on an equivalent amount to that withdrawn.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 

"... 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, 02/02."

And, as expected.. it is.

Wheres_My_Cashback

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.

Just like the past few PBS RS 25-30 and Xmas 22 they're worth opening just to use for a few months before closing.

Now that base rate has increased to 4% this won't be very attractive for long being a fixed rate a/c.

chris_the_bee

Coventry BS
Quote:
"We're currently reviewing our rates – if your account is affected, we’ll be in touch with you in the upcoming weeks, you don’t need to do anything at all."

ForumUser7

chris_the_bee said:

Coventry BS
Quote:
"We're currently reviewing our rates – if your account is affected, we’ll be in touch with you in the upcoming weeks, you don’t need to do anything at all."

Both Coventry and Yorkshire seem a bit hesitant this time round - last time Coventry announced their new rates a couple of hours after the BR rise (but ‘the upcoming weeks’ doesn’t sound very promising). Last time Yorkshire said they were ‘pleased to announce’ they’d be increasing the rates - whereas this time it says they’ll review them 

schiff

DARLINGTON BS 

Also reviewing their rates - which at 3.80% are not competitive.

gwapenut

schiff said:

DARLINGTON BS 

Also reviewing their rates - which at 3.80% are not competitive.

I disagree with that, given these are perpetual regular savers. I've got more than £20k in there and I've only been running them for 18 months or so, my balance goes up by £1750 per month. There are few better easy-access homes for that amount of money IMO.

And so far, they've kept their discontinued special occasion savers at the same rate as their new accounts. (I know they have some much older accounts which have not kept up)

DoneWorking

From Chase just now

Good news – we're increasing the Chase saver account interest rate from 2.7% AER (2.67% gross) variable to 3% AER (2.96% gross) variable, effective from 13 February 2023.

RG2015

DoneWorking said:

From Chase just now

Good news – we're increasing the Chase saver account interest rate from 2.7% AER (2.67% gross) variable to 3% AER (2.96% gross) variable, effective from 13 February 2023.

Think you have posted on the wrong thread. This is the regular saver not easy access.

Velvet_Monkey

A certain dynamic has definitely changed in recent times with respect to savings accounts. It used to be that savings rates were above the base rate. Now, the base rate goes up by 0.5%, and institutions raise their rate by 0.3% expecting us to be happy?
Base rate is 4%, and banks offer savings accounts at 3%, with ability to simply deposit funds risk free with BoE at 4%? We deserve better!