Regular Savings Accounts: The Best Currently Available List!

subjecttocontract

Kazza242 said:

gt94sss2 said:

ForumUser7 said:

MoneyFacts is showing a Monmouthshire BS ‘Coronation’ Regular Saver, branch application only.

Pays 5.6%, and appears to be £300 max per month and MoneyFacts shows unlimited withdrawals.

Hopefully it will show on the Mon BS website with information from tomorrow. It appears after the Christmas RS issues they had, they won’t open this up to online and post applications.

I wish they would open this up to all existing customers not just those near a branch - perhaps via online applications only

Some info for anyone who cannot get to a Monmouthshire Building Society branch, but wants to open their Coronation Regular Saver, paying 5.60%:

I am an existing Monmouthshire BS member.  I downloaded, completed and posted off a savings application form for the account on Thursday 13th April, along with a cheque and a letter.

They opened the Coronation Regular Saver account for me the next day (14th April).  I have received the passbook and account confirmation letter in the post today.  

If you want to open this account and you don't live or work near one of their branches. 

Print off the Savings Application form from their website: 

https://www.monbs.com/media/1478/savings-application-form-savapp-04_19_1.pdf and follow the steps above. 

Further info about the account: https://www.monbs.com/products/coronation-regular-saver/

Great service from The Monmouthshire!

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.

t1redmonkey

subjecttocontract said:

Kazza242 said:

gt94sss2 said:

ForumUser7 said:

MoneyFacts is showing a Monmouthshire BS ‘Coronation’ Regular Saver, branch application only.

Pays 5.6%, and appears to be £300 max per month and MoneyFacts shows unlimited withdrawals.

Hopefully it will show on the Mon BS website with information from tomorrow. It appears after the Christmas RS issues they had, they won’t open this up to online and post applications.

I wish they would open this up to all existing customers not just those near a branch - perhaps via online applications only

Some info for anyone who cannot get to a Monmouthshire Building Society branch, but wants to open their Coronation Regular Saver, paying 5.60%:

I am an existing Monmouthshire BS member.  I downloaded, completed and posted off a savings application form for the account on Thursday 13th April, along with a cheque and a letter.

They opened the Coronation Regular Saver account for me the next day (14th April).  I have received the passbook and account confirmation letter in the post today.  

If you want to open this account and you don't live or work near one of their branches. 

Print off the Savings Application form from their website: 

https://www.monbs.com/media/1478/savings-application-form-savapp-04_19_1.pdf and follow the steps above. 

Further info about the account: https://www.monbs.com/products/coronation-regular-saver/

Great service from The Monmouthshire!

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.

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.

subjecttocontract

The bad news is that the account will mature in the 2024/25 tax year which may mean we'll have a change of Government & the possibility of an adverse change to taxes.

allegro120

ForumUser7 said:

allegro120 said:

ForumUser7 said:

t1redmonkey said:

EthicsGradient said:

I couldn't find this reported earlier - the Hinckley and Rugby BS Regular Saver 30 Day Notice page now has this:

"Please note the interest rate payable on this account will be reducing from 4.75% to 4.25% on Thursday 4 May 2023"

https://www.hrbs.co.uk/savings-products/regular-saver-30-day-notice/

That's unusual in the current environment for a regular saver to be reducing it's rate...let's hope it's just an oddball and not the first of many!

Incredibly disappointing - I wonder when we'll be personally notified, because it is supposed to be at least 14 days before the change + the 30 day notice period - unless they are waiving this.

Hoping they are just releasing a new issue, but feels unlikely!

If it's 14 days, we should be  personally notified no later than this Thursday. The 30 day notice period will probably stand, which is fine. The downside is that you can't withdraw electronically (unless you want to pay £25 for this luxury), they send you a cheque which creates a cash drag and extra hassle to cash it. 
I'm thinking of withdrawing and putting this money into Mansfield 90 days tracker, which pays the same 4.25% - the same result (or maybe better if BoE increases on 11th May), but with less accounts to manage.  

See my previous post re the timescales:

https://forums.moneysavingexpert.com/discussion/comment/79998704/#Comment_79998704

The lack of electronic withdrawal is especially annoying. Luckily the rate is still good for me (I missed the Mansfield account, as they didn’t get back to my queries before it was withdrawn), but not as competitive as before - one of my lower paying RSs.

Yeah 4.25% is not too bad. On the second thought I might as well keep the account - not really difficult to make £500 payment once a month.  My lowest paying RS is with Coventry (4.15%), but I don't want to give it up - it grew to nearly £46k over years of £250 monthly deposits.   

EthicsGradient

subjecttocontract said:

The bad news is that the account will mature in the 2024/25 tax year which may mean we'll have a change of Government & the possibility of an adverse change to taxes.

Assuming you still mean the Monmouthshire account, it lasts 12 months. It doesn't look likely there'll be an early election called (the Tories would only do that if they felt confident, and the polls are against them now), and it would be very unlikely that an incoming Labour government would change personal tax policy in late 2024 or early 2025 for a tax year that had already started. So there seems no point in getting gloomy about what they might do in 2024-25.

More likely would be a voter-friendly change in the next budget by the Tories, to nudge people towards them. But I'd guess they'd aim that at salaries rather than savings.

Kazza242

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 specifically 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 the 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 notice or penalty.  Therefore, I do not think the variable rate is an issue on this particular account.  

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

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