Regular Savings Accounts: The Best Currently Available List!

dealyboy

Looks like Halifax are definitely upping their game, now on two fronts ... this will persuade me to stick as the RS terms are reasonable.

Band7

subjecttocontract said:

Its a discussion forum......if people want to post they are free to do so. I wasn't aware Patrington sets the rules.

Agree. It is perfectly reasonable and really helpful to post rate increases for Regular Saver accounts in the Regular Saver thread, just like @somsman did. In fact, it is essential for the maintenance of the summary in the first few posts of this thread. 

OceanSound

subjecttocontract said:

Its a discussion forum......if people want to post they are free to do so. I wasn't aware Patrington sets the rules.

Some forumites will try. Common methods are there's already another thread, off-topic, straw man fallacy....

ForumUser7

somsman said:

Halifax Regular Saver has been upped to 5.50% today.
https://www.halifax.co.uk/savings/fixed-term/regular-saver.html

Can't see anything to confirm the switch offer rumour yet.

Good spot - thanks for this! Oddly when I checked MoneyFacts last night, I only saw the old issue so glad the new one was pointed out here

Nick_C

somsman said:

Halifax Regular Saver has been upped to 5.50% today.
https://www.halifax.co.uk/savings/fixed-term/regular-saver.html

Can't see anything to confirm the switch offer rumour yet.

Many thanks for posting about the increased interest rate on the Halifax RS.  This is  where this information belongs.  Many of us subscribe to this thread precisely for information like this, and I wouldn't have seen it anywhere else. 

Sorry to add to the unnecessary posts, which I wouldn't normally do.  This thread is often spoiled by unhelpful posts.  Yours was not one of them. 

orange-juice

Current Halifax reg saver is sitting at 1500. Tempted to keep it open. The alternative is close, reopen and put the 1250 int Zopa.. What are others doing?

PloughmansLunch

orange-juice said:

Current Halifax reg saver is sitting at 1500. Tempted to keep it open. The alternative is close, reopen and put the 1250 int Zopa.. What are others doing?

I'd say you're too far gone for it to be worthwhile changing now, unless the interest gained from those 6 months would be more beneficial for you to keep in this financial year.

allegro120

orange-juice said:

Current Halifax reg saver is sitting at 1500. Tempted to keep it open. The alternative is close, reopen and put the 1250 int Zopa.. What are others doing?

Mine is at £1250.  I incline to let it run to maturity in hope that this product's rate won't decrease in the next 7 months.
I think you will be loosing a bit of interest if renew half way through and drip feed from 3.21% (or even boosted 3.25-3..27%) Zopa, unless Zopa up their rates again soon.

Band7

orange-juice said:

Current Halifax reg saver is sitting at 1500. Tempted to keep it open. The alternative is close, reopen and put the 1250 int Zopa.. What are others doing?

Find the spreadsheet in the other thread which helps you work it out. I would say it is worth it, not only because you can make a couple of quid more interest but also because you'll have 5.5% fixed for a year. Which you can bail out of if a better rate becomes available, but which you have if rates plummet.

FWIW, I have changed mine, which stood at £1,500 and £1,000

Nick_C

orange-juice said:

Current Halifax reg saver is sitting at 1500. Tempted to keep it open. The alternative is close, reopen and put the 1250 int Zopa.. What are others doing?

I don't have anything significant in ISAs, but if I can get the YBS ISA at 4pc, I will be closing down a few 5pc regular savers before the end of the month to bring the interest forward.

As things stand, I will earn more than £1k interest next year, so 4pc in an ISA is as good as a 5pc RS for some of my money.

I would prefer to avoid having to do a tax return and pay tax on any excess interest.