Regular Savings Accounts: The Best Currently Available List!

Snapdragon

SFindlay said:

Steve_xx said:

trickydicky14 said:

Can you defo close all these accounts, (Halifax, Lloyds and Bos) without loss and re-apply immediately at the new rates?

If you close the Club Lloyds regular saver, you can't open another until the anniversary date of the first opening. Not sure about the others. 

All, including Club Lloyds, can be closed and reopened immediately.  Account needs to be renewed when closing it. 

How do you RENEW? I went into app and chose my saver account and the 3 dots and there was a close account option in the list but nothing that sounded anything like renewing. Whilst I'd like to get the improved rates, I don't want to risk reasonable rates which are effectively easy access, if I get it wrong. Any help would be appreciated.

dcs34

Bridlington1 said:

LBG have raised their interest rates:

Club Lloyds Monthly saver now 6.25%
Lloyds Monthly saver now 5.25%
Bank of Scotland Monthly Saver now 5.5%
Halifax Monthly saver -No change still 4.5%

Lol I just renewed/closed them all yesterday since I'd decided not worth continuing to fund them. May have to reopen some!

dcs34

Snapdragon said:

SFindlay said:

Steve_xx said:

trickydicky14 said:

Can you defo close all these accounts, (Halifax, Lloyds and Bos) without loss and re-apply immediately at the new rates?

If you close the Club Lloyds regular saver, you can't open another until the anniversary date of the first opening. Not sure about the others. 

All, including Club Lloyds, can be closed and reopened immediately.  Account needs to be renewed when closing it. 

How do you RENEW? I went into app and chose my saver account and the 3 dots and there was a close account option in the list but nothing that sounded anything like renewing. Whilst I'd like to get the improved rates, I don't want to risk reasonable rates which are effectively easy access, if I get it wrong. Any help would be appreciated.

In online banking, on the account overview page, left hand menu > Savings and Investements > Renew your savings account > Select regular saver > Select preferred easy access account > Complete

Log out and log back in again. The regular saver will now be an easy access account with any interest at the full regular saver rate paid in. You can then open a new regular saver (might need to wait a day for system to refresh).

ForumUser7

Bridlington1 said:

gt94sss2 said:

Bridlington1 said:

LBG have raised their interest rates:

Club Lloyds Monthly saver now 6.25%
Lloyds Monthly saver now 5.25%
Bank of Scotland Monthly Saver now 5.5%
Halifax Monthly saver -No change still 4.5%

So is everyone closing their existing accounts and reopening them?

If I had opened my accounts a month or 2 ago I would be closing mine without a doubt, but my monthly savers are into their 6th month now so it is looking as though there won't be much in it either way. From about next month, possibly May even I will be emptying lower paying regular savers to feed the higher ones though.

I think I will keep the Club Lloyds monthly saver at 5.25%, am leaning towards closing the BOS monthly saver at 4.5% and am undecided about what to do with the Lloyds monthly saver at 4.5%.

Also I seem to recall last time LBG raised their rates Halifax followed suit a few days later so I shall be stalking their website...

~ 1 week after IIRC

pearl123

Bridlington1 said:

LBG have raised their interest rates:

Club Lloyds Monthly saver now 6.25%
Lloyds Monthly saver now 5.25%
Bank of Scotland Monthly Saver now 5.5%
Halifax Monthly saver -No change still 4.5%

For Club lloyds Reg and lloyds monthly - do you just close the regular account with the money in it or do you transfer money then close?

SJMALBA

pearl123 said:

Bridlington1 said:

LBG have raised their interest rates:

Club Lloyds Monthly saver now 6.25%
Lloyds Monthly saver now 5.25%
Bank of Scotland Monthly Saver now 5.5%
Halifax Monthly saver -No change still 4.5%

For Club lloyds Reg and lloyds monthly - do you just close the regular account with the money in it or do you transfer money then close?

I'm with BoS, rather than Lloyds, but the method outlined by @Descrabled in this thread worked for me:

https://forums.moneysavingexpert.com/discussion/6428126/lloyds-bank-of-scotland-halifax-regular-monthly-saver-limits#lates

dekkard

SJMALBA said:

pearl123 said:

Bridlington1 said:

LBG have raised their interest rates:

Club Lloyds Monthly saver now 6.25%
Lloyds Monthly saver now 5.25%
Bank of Scotland Monthly Saver now 5.5%
Halifax Monthly saver -No change still 4.5%

For Club lloyds Reg and lloyds monthly - do you just close the regular account with the money in it or do you transfer money then close?

I'm with BOS, rather than Lloyds, but the method outlined by @Descrabled in this thread worked for me:

https://forums.moneysavingexpert.com/discussion/6428126/lloyds-bank-of-scotland-halifax-regular-monthly-saver-limits#lates

What does selecting the 'Renew account' option do exactly?

SJMALBA

dekkard said:

SJMALBA said:

pearl123 said:

Bridlington1 said:

LBG have raised their interest rates:

Club Lloyds Monthly saver now 6.25%
Lloyds Monthly saver now 5.25%
Bank of Scotland Monthly Saver now 5.5%
Halifax Monthly saver -No change still 4.5%

For Club lloyds Reg and lloyds monthly - do you just close the regular account with the money in it or do you transfer money then close?

I'm with BOS, rather than Lloyds, but the method outlined by @Descrabled in this thread worked for me:

https://forums.moneysavingexpert.com/discussion/6428126/lloyds-bank-of-scotland-halifax-regular-monthly-saver-limits#lates

What does selecting the 'Renew account' option do exactly?

There's no online method for closing the Monthly Saver, but renewing it allows you to change it to an Access Saver, where you get and remove the accrued interest, then you can close the AS online.

Speculator

dcs34 said:

Snapdragon said:

SFindlay said:

Steve_xx said:

trickydicky14 said:

Can you defo close all these accounts, (Halifax, Lloyds and Bos) without loss and re-apply immediately at the new rates?

If you close the Club Lloyds regular saver, you can't open another until the anniversary date of the first opening. Not sure about the others. 

All, including Club Lloyds, can be closed and reopened immediately.  Account needs to be renewed when closing it. 

How do you RENEW? I went into app and chose my saver account and the 3 dots and there was a close account option in the list but nothing that sounded anything like renewing. Whilst I'd like to get the improved rates, I don't want to risk reasonable rates which are effectively easy access, if I get it wrong. Any help would be appreciated.

In online banking, on the account overview page, left hand menu > Savings and Investements > Renew your savings account > Select regular saver > Select preferred easy access account > Complete

Log out and log back in again. The regular saver will now be an easy access account with any interest at the full regular saver rate paid in. You can then open a new regular saver (might need to wait a day for system to refresh).

I just logged out and logged in again after renewing and BOS let me open their 5.5% Monthly Saver.

ChaskhaChaia

Speculator said:

dcs34 said:

Snapdragon said:

SFindlay said:

Steve_xx said:

trickydicky14 said:

Can you defo close all these accounts, (Halifax, Lloyds and Bos) without loss and re-apply immediately at the new rates?

If you close the Club Lloyds regular saver, you can't open another until the anniversary date of the first opening. Not sure about the others. 

All, including Club Lloyds, can be closed and reopened immediately.  Account needs to be renewed when closing it. 

How do you RENEW? I went into app and chose my saver account and the 3 dots and there was a close account option in the list but nothing that sounded anything like renewing. Whilst I'd like to get the improved rates, I don't want to risk reasonable rates which are effectively easy access, if I get it wrong. Any help would be appreciated.

In online banking, on the account overview page, left hand menu > Savings and Investements > Renew your savings account > Select regular saver > Select preferred easy access account > Complete

Log out and log back in again. The regular saver will now be an easy access account with any interest at the full regular saver rate paid in. You can then open a new regular saver (might need to wait a day for system to refresh).

I just logged out and logged in again after renewing and BOS let me open their 5.5% Monthly Saver.

Same here.