Regular Savings Accounts: The Best Currently Available List!

ForumUser7

surreysaver said:

chris_the_bee said:

Bridlington1 said:

It's manual transfers and a spreadsheet for me, the only exceptions being HSBC's regular saver and the Ecology regular saver (DD). I paid manually into 27 regular savers yesterday afternoon, and will be paying into another regular saver later in the month by manual transfer.

I personally would rather do things manually myself largely because I do not want to have to faff around with setting up SOs then needing to cancel them when the regular savers mature/get closed. I would also rather avoid having money sat in a current account earning no interest overnight as I do not have anywhere near a big enough OD limit to cover all the regular savers.

Plus if I am unfortunate enough to end up with a payment from my EA account held up for whatever reason I do not want to find myself having to take money out of the regular savers I've just paid into to avoid paying 40% on an arranged OD. At least with manual transfers if an EA payment is held up by a few days the worst that'll happen is I'll be paying into my regular savers a few days late, with SOs it could become a real pain as some will take me into unarranged ODs, others will bounce etc

Surprised you still have an Ecology RS. At 2.85% it must be nearly rock bottom and is easily surpassed by most other BS regulars and a number of short dated bonds.and even EA accounts.

As others have said, its a direct debit. It was also a little bit of a faff to open and set up, so its already in existence should its rate increase 

I suppose also there is the fact that if we close it, we cannot open another for 12 months (and its rate may increase in that timeframe)

surreysaver

ForumUser7 said:

surreysaver said:

chris_the_bee said:

Bridlington1 said:

It's manual transfers and a spreadsheet for me, the only exceptions being HSBC's regular saver and the Ecology regular saver (DD). I paid manually into 27 regular savers yesterday afternoon, and will be paying into another regular saver later in the month by manual transfer.

I personally would rather do things manually myself largely because I do not want to have to faff around with setting up SOs then needing to cancel them when the regular savers mature/get closed. I would also rather avoid having money sat in a current account earning no interest overnight as I do not have anywhere near a big enough OD limit to cover all the regular savers.

Plus if I am unfortunate enough to end up with a payment from my EA account held up for whatever reason I do not want to find myself having to take money out of the regular savers I've just paid into to avoid paying 40% on an arranged OD. At least with manual transfers if an EA payment is held up by a few days the worst that'll happen is I'll be paying into my regular savers a few days late, with SOs it could become a real pain as some will take me into unarranged ODs, others will bounce etc

Surprised you still have an Ecology RS. At 2.85% it must be nearly rock bottom and is easily surpassed by most other BS regulars and a number of short dated bonds.and even EA accounts.

As others have said, its a direct debit. It was also a little bit of a faff to open and set up, so its already in existence should its rate increase 

I suppose also there is the fact that if we close it, we cannot open another for 12 months (and its rate may increase in that timeframe)

Indeed. You can also pay into it with a SO/FP to save faffing with the direct debit. I just withdraw money from it twice a year (the maximum allowed) to keep the balance low (the direct debit is set at the minimum of £25)

Kazza242

ForumUser7 said:

Kazza242 said:

According to Moneyfacts, Melton Building Society are launching a new account, Regular Saver (issue 3), paying 5.00%.

The minimum opening amount is £10.  Pay in up to £200 per month.  The maximum investment is £3,000.

The account matures on 31/05/2024.  It is available to locals residing in Leicestershire, Lincolnshire, Nottinghamshire or Rutland only.

It is available to open in branch only, but once opened it can be managed via branch or post.  

Moneyfacts states that unlimited withdrawals are permitted.

Once it has launched, it should appear on the Melton BS website: 

https://www.themelton.co.uk/our_savings/regular-savings/

Interesting, their webpage summary says no withdrawals in fixed rate period, but the brochure says easy access:

Yes, there is contradictory information.  In the Melton brochure for the account, it states:

"Easy access - you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by forwarding your passbook with written instructions to us. You can also transfer funds from your account to a nominated bank/building society account."

However, the product table on the webpage states: "Withdrawals not permitted during fixed period".  

If someone in their operating area is opening the account, then perhaps they could clarify this with Melton BS.  

t1redmonkey

This is a new one I believe, 4.2% Regular Saver from Leeds BS: https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

Band7

Mentioned in this thread a while ago, and already reflected on page 1. But thanks for the reminder.

t1redmonkey

Band7 said:

Mentioned in this thread a while ago, and already reflected on page 1. But thanks for the reminder.

Rubbish forum search fails me again    Searched for 'Leeds Regular Saver' before posting that, sorted by most recent, and nothing came up since February.

Wheres_My_Cashback

t1redmonkey said:

This is a new one I believe, 4.2% Regular Saver from Leeds BS: https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

Band7 said:

Mentioned in this thread a while ago, and already reflected on page 1. But thanks for the reminder.

t1redmonkey said:

Band7 said:

Mentioned in this thread a while ago, and already reflected on page 1. But thanks for the reminder.

Rubbish forum search fails me again    Searched for 'Leeds Regular Saver' before posting that, sorted by most recent, and nothing came up since February.

Mentioned previously, but not updated yet on P1 which still shows Issue 37. It changed sometime after mid-March I believe.

Band7

Wheres_My_Cashback said:

t1redmonkey said:

This is a new one I believe, 4.2% Regular Saver from Leeds BS: https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

Band7 said:

Mentioned in this thread a while ago, and already reflected on page 1. But thanks for the reminder.

t1redmonkey said:

Band7 said:

Mentioned in this thread a while ago, and already reflected on page 1. But thanks for the reminder.

Rubbish forum search fails me again    Searched for 'Leeds Regular Saver' before posting that, sorted by most recent, and nothing came up since February.

Mentioned previously, but not updated yet on P1 which still shows Issue 37. It changed sometime after mid-March I believe.

My mistake - I never pay attention to the issues. Leeds RS 37 is also on 4.2% but NLA now. Can't have both of them.

ForumUser7

New 4.2% Leeds BS (Issue 39 now!)

ForumUser7

YBS re Christmas RS 2023

Hello ForumUser7,

 

When you took out your Christmas 2023 Regular e-Saver account, we provided you with a factsheet which contained important information about your account. Unfortunately the factsheet contained an incorrect projected interest illustration. Please accept our apologies for this. 

 

On the original factsheet given to you when you opened your account, the interest illustration read: 

 

£300 per month saved at 4.50% gross† p.a./AER* would lead to a balance of £3,074.61 at the end of 10 months. We have worked this out assuming a £300 deposit is made on the first day of each month throughout the 10 months the account is held. No withdrawals are made, the interest earned is added to the account and no changes are made to the current interest rate.

 

The calculation provided was incorrect and should have been: 

 

£300 per month saved at 4.50% gross† p.a./AER* would lead to a balance of £3,061.51 at the end of 10 months. We have worked this out assuming you have deposited on the first day the account was available (18th January 2023) and have subsequently made a £300 deposit on the first day of each month throughout the term the account is held. No withdrawals are made, the interest earned is added to the account and no changes are made to the current interest rate.
 

We've now fixed this and you can access the updated factsheet here: 

https://www.ybs.co.uk/productdata/Factsheet-YB901652W.pdf

 

Please note that from the 5th Aprilthe rate will be increasing to 4.75%.
 

Thank you for choosing Yorkshire Building Society for your savings - We hope you'll be very happy with your Christmas 2023 Regular e-Saver account.