Regular Savings Accounts: The Best Currently Available List!

veggieblob

Nationwide Start to Save Iss 2 is increasing from 5% to 5.25% on 1st May.  Also increases on other non RS accounts.

drphila

veggieblob said:

allegro120 said:

Sent application for Monmouthshire Coronation on 24th April by 2nd class post, the account was opened on 27th Apr. Received my passbook today.  Much quicker than I expected.

I sent mine 1st class on 21st and heard nothing yet - perhaps I'd better contact them?

When I called them on 27th there was a pre-recorded message saying they were dealing with a large number of applications (presumably for the Coronation RS) and it took several attempts to get through

Ps3725

JamesRobinson48 said:

drphila said:

When I called them on 27th there was a pre-recorded message saying they were dealing with a large number of applications (presumably for the Coronation RS) and it took several attempts to get through

I wonder if somehow word has got out that the Mon BS is now accepting postal applications?  How could that have happened?

JamesRobinson48 said:

drphila said:

When I called them on 27th there was a pre-recorded message saying they were dealing with a large number of applications (presumably for the Coronation RS) and it took several attempts to get through

I wonder if somehow word has got out that the Mon BS is now accepting postal applications?  How could that have happened?

Looks to me  like Monmouth BS website has now removed the link to download the savings application form. 

Gandalf644

Is it just me, or does the Darlington Building Society Regular Monthly Saver seem to be getting left behind in the interest rate stakes?

It was once a bit of a leading light (with its former Special Occasions Saver etc) but the rate has been becalmed on 3.8% since 23rd January 2023 despite there being two BOE interest rate rises since.

It seems relatively poor now that regular savings rates of at least 4%+  are easily achievable.

Perhaps it is time to look elsewhere?

Wheres_My_Cashback

Gandalf644 said:

Is it just me, or does the Darlington Building Society Regular Monthly Saver seem to be getting left behind in the interest rate stakes?

It was once a bit of a leading light (with its former Special Occasions Saver etc) but the rate has been becalmed on 3.8% since 23rd January 2023 despite there being two BOE interest rate rises since.

It seems relatively poor now that regular savings rates of at least 4%+  are easily achievable.

Perhaps it is time to look elsewhere?

Yep, it's been left behind and the rate is now poor against other RS, however if you look at it as an easy access saver with limits it's still above anything else out there so it will depend on whether you feel your money could be doing better elsewhere or fixed. 
Still ok for those who already have all other eligible RS with higher rates.

Gandalf644

Wheres_My_Cashback said:

Gandalf644 said:

Is it just me, or does the Darlington Building Society Regular Monthly Saver seem to be getting left behind in the interest rate stakes?

It was once a bit of a leading light (with its former Special Occasions Saver etc) but the rate has been becalmed on 3.8% since 23rd January 2023 despite there being two BOE interest rate rises since.

It seems relatively poor now that regular savings rates of at least 4%+  are easily achievable.

Perhaps it is time to look elsewhere?

Yep, it's been left behind and the rate is now poor against other RS, however if you look at it as an easy access saver with limits it's still above anything else out there so it will depend on whether you feel your money could be doing better elsewhere or fixed. 
Still ok for those who already have all other eligible RS with higher rates.

Thanks.

I am not quite in the bracket of maxing out all better RS accounts, so I may just leave the balance in the Darlington RS (as you can miss monthly payments) and my Darlington SOS RS and switch my ongoing monthly deposits elsewhere.

As I have a Natwest current account their Digital Regular Saver at 6% is getting my attention now (I paid in to it until I hit the £1k ceiling under its former t&c's) so will reactivate payments in and also look elsewhere for the remainder of my monthly deposit amount.

A shame about the Darlington BS as their in-branch staff are always very friendly and helpful.

Dietofsoup

JamesRobinson48 said:

Ps3725 said:

Looks to me  like Monmouth BS website has now removed the link to download the savings application form. 

Oh no, what can we possibly do?  Oh, wait ...

https://www.monbs.com/media/1478/savings-application-form-savapp-04_19_1.pdf 

They didn't enclose a pre paid envelope (with the passbook) for the first time in ages too...

Are they (with the removal of the application form and free envelopes) reading this forum and making future branch only offerings just that?

allegro120

Wheres_My_Cashback said:

allegro120 said:

Band7 said:

badger09 said:

Ps3725 said:

veggieblob said:

allegro120 said:

Sent application for Monmouthshire Coronation on 24th April by 2nd class post, the account was opened on 27th Apr. Received my passbook today.  Much quicker than I expected.

I sent mine 1st class on 21st and heard nothing yet - perhaps I'd better contact them?

Me too on 21st. Hope to hear tomorrow or Tuesday. 

Me 3. 

Posted 1st class 21st with cheque for £300 to MONBS HO address

With a bit of luck, you are just one day behind. I also posted my cheque 1st class to MONBS HQ on the 21st.

Received the passbook with cheque credited April 27. As of now, the cheque doesn't even show on my current account, not to talk about having cleared. Great service from MONBS this time round, looks they definitely have their act together on this one. Although as always.....online application, and doing away with the passbook/cheque malarky would be even better.

I can see my £3 cheque credited, but £297 transfer I've made this morning is not showing, I fear it might be a cash drag until 2nd May, however my previous deposits to MON-Christmas at weekends were credited on the same day.

Will process overnight and show tomorrow as credited today. MON FPs never show until the next day.

Yes, showing £300 today.  

allegro120

Ps3725 said:

JamesRobinson48 said:

drphila said:

When I called them on 27th there was a pre-recorded message saying they were dealing with a large number of applications (presumably for the Coronation RS) and it took several attempts to get through

I wonder if somehow word has got out that the Mon BS is now accepting postal applications?  How could that have happened?

JamesRobinson48 said:

drphila said:

When I called them on 27th there was a pre-recorded message saying they were dealing with a large number of applications (presumably for the Coronation RS) and it took several attempts to get through

I wonder if somehow word has got out that the Mon BS is now accepting postal applications?  How could that have happened?

Looks to me  like Monmouth BS website has now removed the link to download the savings application form. 

Probably realised that they've had enough of this . 

Special_Saver2

Hi Everybody,

Apologies that it has been longer than expected since I updated page 1 of this thread. I have now updated the following items on page 1 of this thread from looking at your posts and also checking through every account on page 1 individually looking for interest rate rises.

- Leeds BS Regular Saver (Issue 39) updated issue number with maturity date of 31st March 2025 (the interest rate and other details are the same as the other recent issues)

- Melton BS Regular Saver (Issue 3) added to the list paying 5% on up to £200 per month until 31st May 2024 for locals only 

- Monmouthshire BS Coronation Regular Saver added to the list paying 5.6% on up to £300 per month for a year, open to all UK residents but has to be opened in a branch

- Hinckley and Rugby BS Regular Saver 30 Day Notice Account interest rate reduction to 4.25% from 4th May noted (and I share other people's surprise that the interest rate has been reduced in the current environment)

- Leeds BS Regular Saver (Issue 39) interest rate increase to 4.25% from 10th May noted

- Stafford Railway BS Regular Saver (Issue 1) interest rate increase to 4.4% from 1st May noted

- Nationwide BS Start to Save (Issue 2) interest rate increase to 5.25% from 1st May noted

- Principality BS Learner Earner Issue 3 (Adult with a Child) replaced with Principality BS Dylan Gift Saver paying 3.85% on up to £150 per month for children aged up to 17 years old with a maximum balance of £20,000; please also note that there is a non-regular savings account called Principality BS Dylan Advanced Saver paying 3.85% on up to £50,000 which is not a regular saver for children up to 15 years old so you may be better off opening that account if you can

- Principality BS Dylan Regular Saver Bond (children only) withdrawn and replaced with the Dylan Young Saver that is only paying 3.25% so I have not included it on this list

- Penrith BS Junior Affinity Regular Saver (children only) interest rate increase to 4.45% noted

- Coventry BS Regular Saver (Issue 5) interest rate increase to 4.15% noted

- Coventry BS First Home Saver (Issue 2) interest rate increase to 4.15% noted

- Principality BS First Home Steps Savings Account (Issue 3) and Principality BS First Home Steps Online Savings Account (Issue 2) interest rate increase noted as follows: 3.4% - 4.1% gross p.a. variable (3.4% if your balance is £2,500, then 3.6% if your balance is £2,501 - £7,500 then 4.1% from £7,500 to £25,000) 

- Cumberland BS First Home Saver Account (Issue 2) interest rate increase to 3.5% noted

- Hanley Economic BS Home Deposit Saver interest rate increase to 3.8% noted

- Kroo Current Account (feeder account section) interest rate increase to 3.33% AER (3.28% gross) noted

- Chase Saver Account (feeder account section) interest rate increase to 3.1% AER (3.06% gross) noted

On this MSE page you can see that there are 5 different instant access savings accounts paying between 3.5% and 3.71% so I have changed the thresholds for inclusion of regular savings accounts on this thread. I have updated post 1 as follows: "I am only including accounts where the interest rate is 4.25% or better, or 3.75% if the account has favourable conditions (e.g. you can pay in £500 per month or more, or if the account matures after at least 2 years)."

I have then gone back to page 1 and removed the accounts that do not have high enough interest rates to meet those criteria. Only three accounts were removed - most of the accounts on page 1 still meet these criteria.

I will do the next update within the next 2 weeks.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1