Regular Savings Accounts: The Best Currently Available List!

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.

flaneurs_lobster

ForumUser7 said:

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. 

I'm frankly astonished that no member of this learned board didn't spot this error before YBS did. 

Does the rate increase from 5 April make up the lost £13.10 from the original projection (haven't done the sums).

Band7

flaneurs_lobster said:

ForumUser7 said:

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. 

I'm frankly astonished that no member of this learned board didn't spot this error before YBS did. 

Does the rate increase from 5 April make up the lost £13.10 from the original projection (haven't done the sums).

I would say it wouldn't make up for the erroneous projection because the increase would almost certainly have happened even if the projection had been correct.

I won't be one of the ones who will be chasing for compo as I never base my decisions to take out an account based on the interest projections. I merely look at the interest rate, and if that is good enough for my liking, I take out the account. The interest I get from the Xmas saver is no less than I expected it to be.

In addition, I have held many YBS accounts over the years, without any issues ever. I also have a massive soft spot for YBS for still running the old Egg Money savings account, which I have held since 2009 (but which has been NLA ever since YBS took it over from Egg), and which has even seen interest rate rises. Other holders of this account will know what's so fabulous and precious about it, so I won't brag further.....

I'll forgive YBS for the minor human error - and for being honest enough to admit this minor error.

Dietofsoup

Principality

For those who noticed their 'We are still mulling what affect the latest interest rate will have on Savers' type splash message and were wondering...

Well they've now ditched the message (it was there weeks) and appear to have done a Nationwide and not increased any of the legacy variable rates at all.

Bridlington1

Dietofsoup said:

Principality

For those who noticed their 'We are still mulling what affect the latest interest rate will have on Savers' type splash message and were wondering...

Well they've now ditched the message (it was there weeks) and appear to have done a Nationwide and not increased any of the legacy variable rates at all.

Though to be fair to them in the last few weeks (whilst the notice was up) they did launch new issues of their regular savers, including their regular saver bond which now sits at 4.5% as opposed to the 4% they were offering before, so they have done something positive at least.

I agree however that it would've been nice if they'd upped their variable rates too.

Nick_C

Principality had a regular saver at 5pc six months ago. 

ForumUser7

Nick_C said:

Principality had a regular saver at 5pc six months ago. 

That was their Christmas Regular Saver. It had a lower monthly maximum deposit of £125 a month rather than £250 - I wonder if that helped them give a higher rate, idk