Regular Savings Accounts: The Best Currently Available List!

ForumUser7

Kazza242 said:

subjecttocontract said:

Yes I agree......you got a great service.
However, I wonder if the Monmouthshire are prepared now, for a few hundred application forms to land in their post box over the next week.

Monmouthshire can decide whether to open the accounts or not. I (along with many others) also applied for the Monmouthshire BS Regular Saver Bond (issue 8) by post in December 2022, which was restricted to branch-based opening too. They opened those accounts via postal application and hundreds (maybe thousands) of Christmas Saver Bonds at the time.

t1redmonkey said:

Yep, I'm guessing they didn't mind doing a few as one offs for this Coronation Regular Saver, but they obviously changed this one to branch only for a reason (they got swamped with apps when they launched the Xmas Regular Saver as branch/post) so I don't think there's any guarantee other people would have theirs accepted.  Possibly worth trying I guess if people have no other option and don't mind potentially wasting the postage cost.

Well, I specially addressed my post to the MSE members who would like to open a Coronation Regular Saver to let them know that Monmouthshire opened the account for me (no quibble) via the post. I think it is worth trying if you're interested in the account.  Many of us MSE members have freepost envelopes from Monmouthshire BS (I keep them whenever I receive them) and so there is not always a cost involved.

I was trying to be helpful here. If the account is not of interest to some people, then that's fine.  Other MSE members are interested and hence the many 'Thanks' on my earlier post.   

JamesRobinson48 said:

Great work, thanks!  Although worth noting that this Coronation Regular Saver pays a variable rate, so the 5.60% is not locked in.

Many new regular savers are now paying variable rates (see Saffron BS' 12 Month Members Regular Saver).  I say 'make hay while the sun shines' and get the best interest rates on accounts that you can.  

Please note that the terms of the Coronation Regular Saver are rather flexible for this type of account.  It states:

"4 - Closure
Closure of your Coronation Regular Saver account is permitted at any time without notice or penalty."

Can I withdraw money?

• Yes, withdrawals can be made without notice or loss of interest."

If they decrease the interest rate on the account (they will provide 30 days notice of the change) and the account holder can withdraw their balance or close the account without penalty.  Therefore, I do not think the variable rate is an issue on this particular account.  

https://www.monbs.com/products/coronation-regular-saver/

This is really helpful to know, thank you @Kazza242. 

Which address did you send the forms to please?

Thanks

Kazza242

ForumUser7 said:

This is really helpful to know, thank you @Kazza242. 

Which address did you send the forms to please?

Thanks

I sent the completed application form to:
Head Office: Monmouthshire House, John Frost Square, Newport, South Wales, NP20 1PX.

The address is also on the third page of the application form (in the footer).

They forwarded the form to the branch nearest to the Head office and they opened the account for me.

ForumUser7

Thank you @Kazza242

Beverley Building Society is increasing the rate on their monthly saver from 25th of April according to the 'our rates' section of their page. The new rate has not been decided yet. https://beverleybs.co.uk/savings/savings-rates/

ForumUser7

Some Principality rates may be increasing today. My learner earner issue 3 now shows as 3.85% on the online portal area, but it was 3.70% before. N.B. The main website hasn't been updated yet, and maintenance is ongoing online so you may keep getting logged off.

Hoping the First Home Saver Online Issue 2 (and other issues) rate will be increasing, but not sure as haven't been able to scroll down that far before I get logged off!

EDIT:

First Home Steps Account Online Issue 2

£1.00 - £2,500.00 3.40% AER Variable
£2500.01 - £7500.00 3.60% AER Variable
£7500.01 - £25000.00 4.10% AER Variable

Bridlington1

ForumUser7 said:

Thank you @Kazza242

Beverley Building Society is increasing the rate on their monthly saver from 25th of April according to the 'our rates' section of their page. The new rate has not been decided yet. https://beverleybs.co.uk/savings/savings-rates/

Interest rate will be:
3% no bonus
3.5% with bonus

Source: a very nice lady at the Beverley branch

Whilst I'm here I can't see it mentioned anywhere so Principality FHS new interest rates are as follows:
£1-£2.5k pays 3.4%
£2501-£7.5k pays 3.6%
£7501+ pays 4.1%

Dietofsoup

ForumUser7 said:

Some Principality rates may be increasing today. My learner earner issue 3 now shows as 3.85% on the online portal area, but it was 3.70% before. N.B. The main website hasn't been updated yet, and maintenance is ongoing online so you may keep getting logged off.

Hoping the First Home Saver Online Issue 2 (and other issues) rate will be increasing, but not sure as haven't been able to scroll down that far before I get logged off!

EDIT:

First Home Steps Account Online Issue 2

£1.00 - £2,500.00 3.40% AER Variable
£2500.01 - £7500.00 3.60% AER Variable
£7500.01 - £25000.00 4.10% AER Variable

The Original Thank You Saver has gone from 3.7 to 3.85

The Christmas Regular Saver Bond 2023 remains the same at 5% as does the Regular Saver Bond 32 at 4.5%

ForumUser7

Dietofsoup said:

ForumUser7 said:

Some Principality rates may be increasing today. My learner earner issue 3 now shows as 3.85% on the online portal area, but it was 3.70% before. N.B. The main website hasn't been updated yet, and maintenance is ongoing online so you may keep getting logged off.

Hoping the First Home Saver Online Issue 2 (and other issues) rate will be increasing, but not sure as haven't been able to scroll down that far before I get logged off!

EDIT:

First Home Steps Account Online Issue 2

£1.00 - £2,500.00 3.40% AER Variable
£2500.01 - £7500.00 3.60% AER Variable
£7500.01 - £25000.00 4.10% AER Variable

The Christmas Regular Saver Bond 2023 remains the same at 5% as does the Regular Saver Bond 32 at 4.5%

The 2 bonds you’ve mentioned are fixed rates, so should remain the same rate throughout the term.

Dietofsoup

ForumUser7 said:

Dietofsoup said:

ForumUser7 said:

Some Principality rates may be increasing today. My learner earner issue 3 now shows as 3.85% on the online portal area, but it was 3.70% before. N.B. The main website hasn't been updated yet, and maintenance is ongoing online so you may keep getting logged off.

Hoping the First Home Saver Online Issue 2 (and other issues) rate will be increasing, but not sure as haven't been able to scroll down that far before I get logged off!

EDIT:

First Home Steps Account Online Issue 2

£1.00 - £2,500.00 3.40% AER Variable
£2500.01 - £7500.00 3.60% AER Variable
£7500.01 - £25000.00 4.10% AER Variable

The Christmas Regular Saver Bond 2023 remains the same at 5% as does the Regular Saver Bond 32 at 4.5%

The 2 bonds you’ve mentioned are fixed rates, so should remain the same rate throughout the term.

'Fixed rate RS' have been known to go up too.

I've a number which have done this in the last year from other institutions.

Hence why I mentioned these along with the increased Thank You product.

ForumUser7

Dietofsoup said:

ForumUser7 said:

Dietofsoup said:

ForumUser7 said:

Some Principality rates may be increasing today. My learner earner issue 3 now shows as 3.85% on the online portal area, but it was 3.70% before. N.B. The main website hasn't been updated yet, and maintenance is ongoing online so you may keep getting logged off.

Hoping the First Home Saver Online Issue 2 (and other issues) rate will be increasing, but not sure as haven't been able to scroll down that far before I get logged off!

EDIT:

First Home Steps Account Online Issue 2

£1.00 - £2,500.00 3.40% AER Variable
£2500.01 - £7500.00 3.60% AER Variable
£7500.01 - £25000.00 4.10% AER Variable

The Christmas Regular Saver Bond 2023 remains the same at 5% as does the Regular Saver Bond 32 at 4.5%

The 2 bonds you’ve mentioned are fixed rates, so should remain the same rate throughout the term.

'Fixed rate RS' have been known to go up too.

I've a number which have done this in the last year from other institutions.

Hence why I mentioned these along with the increased Thank You product.

Is this the HSBC/First Direct that you’re referencing? If so I get where you’re coming from, they really created a grey area IMO. 

Standard terms for a fixed rate are that they can’t change it on the product mid-term:

That said, I’m interested to know if any other providers have done this recently, and upgraded the fixed rate on an existing issue of an existing product? I’ve had products where new higher rate issues I could apply for have been released, but I didn’t have HSBC/FD until last week, and I’ve not had any other fixed rate RSs where the rate changed mid-term. I only started with these in mid 2022, so this may have happened before then - I don’t know

ForumUser7

According to Moneyfacts, Principality’s children’s range is getting revamped.

They appear to be removing the Dylan’s Regular Saver Bond, and the Learner Earner and replacing with the Dylan Young Saver and Gift Saver.

DYS:

• 3.25% AER
• Max balance £20,000 - Max monthly £150
• Unlimited withdrawals
• Max application age 15, reverts to instant access when child turns 16

GS:

• 3.85% AER
• Max balance £20,000 - Max monthly £150
• 3 withdrawals per calendar year
• Max application age 17, reverts to instant access when child turns 18

Both branch applications only.

With their previous learner earner, as long as the child was under 18 when it was opened, they could hold it for the rest of their lives if they wished.

With the previous Dylan’s regular saver bond, as long as the child was under 18 when it was opened, they could hold it for the full fixed term of 3 years