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Regular Savings Accounts: The Best Currently Available List!
Comments
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I don't think Ecology will ever be a top payer, being top dog regarding rates are not what they're about.For me the benefit is a reasonable rate with DD pay in. Set up on accounts that I have no intention of closing, such as Barclays, to get the benefits offered.I keep the faster to set up DD's on accounts specifically to respond to switcher offers as and when available.
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How come you're comparing the Ecology RS interest rate in Autumn (around November) with EA account interest rates for gauging if it was competitive or not?Bridlington1 said:
I seem to recall it hit 2.85% in autumn last year (November IIRC), which at the time was just above the top EA accounts (only by less than 0.1% though) so that was just about competitive. It was then overtaken by a string of 3% EA accounts a few weeks later.OceanSound said:
I figured. Just wanted to confirm because forumite had said '... if it becomes competitive once again' - implying that it was competitive at one point.JamesRobinson48 said:OceanSound said:
Just out of interest (no pun intended), how competitive was the Ecology RS in it's heyday?
Edit: I tried to open a 90 day notice savings account. Not a RS.
IMHO, the Ecology RS has almost never offered anywhere close to a market leading interest rate. It's a niche business that would never wish to be swamped with deposits or account applications. One big part of its appeal was the monthly DD payment., and I soon closed the account once I no longer needed that.
I opened a Lloyds Monthly Saver (which is a regular saver account) on 22 October 2022 and the interest rate was 4.5 AER/Gross fixed. That didn't go down in November 2022. Compared to the Ecology RS rate, the Lloyds Bank Monthly Saver interest rate was miles ahead (it's a remarkable difference, not 0.1% difference that you mention when compared to EA accounts).
TBH, comparing RS (monthly saver) with EA accounts, is comparing apples and oranges.
Edit: Nobody has mentioned the Ecology RS for this high interest rate around November 2022 on this thread (or another thread for that matter), which goes to show that it was never competitive around that time. It was mentioned on 13 October 2022 in a different thread:
https://forums.moneysavingexpert.com/discussion/comment/79553688/#Comment_79553688
but the mention wasn't for the Interest rate - it was for the Direct Debit.
edit-2: I had actually opened a Club Lloyds Monthly Saver (as I'm a club lloyds current account holder). That Monthly saver has a fixed interest rate of 5.25% gross/AER fixed for 12 months from account opening.0 -
Bucks BS from 1 June 2023:
Regular Saver +0.15% to 3.65%
Regular Saver Locals (closed issue) +0.15% to 4.05%
source5 -
Bucks BS effective 01/06/2023
RS from 3.5% -> 3.65%
RS Locals (NLA) 3.90% -> 4.05%
Nothing exciting unfortunately
EDIT: happybagger beat me to it, I'll leave my post up with the pdf screenshotted for future reference
If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.6 -
Moneyfacts Reports:
Saffron BS Small Saver -> 4.80%
Website and app not yet reflecting, but I believe it is likely the existing variable rate issue currently paying 4.65%
Saffron BS Member RS -> 4.50%
Website and app not yet reflecting, but I believe it is likely the existing variable rate issue currently paying 4.35%
No Children RS increase showing as yet, but I’m crossing my fingers MoneyFacts is just being slow.If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.16 -
Confirmed in online banking.ForumUser7 said:Moneyfacts Reports:
Saffron BS Member RS -> 4.50%
Website and app not yet reflecting, but I believe it is likely the existing variable rate issue currently paying 4.35%3 -
Saffron BS MRS has gone up to 4.5% and thank goodness they changed the interest rate to variable such that you don`t have to go through that palava of closing old MRS and opening new one in order to gain the higher interest rate of a new issue.
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I only have Small Saver with Saffron. I was going to close and open again, looked at my app and the account name changed from "issue 7" to "variable" displaying the new 4.8% rate. Good news that they simplified it!where_are_we said:Saffron BS MRS has gone up to 4.5% and thank goodness they changed the interest rate to variable such that you don`t have to go through that palava of closing old MRS and opening new one in order to gain the higher interest rate of a new issue.2 -
Effective 1st June, Leeds BS RS Issues 23-40 to increase:
From:£100 - £6000(+ accrued interest) - 4.25%
Above £6000(+ accrued interest) - 1.90%To:
£100 - £6000(+ accrued interest) - 4.50%
Above £6000(+ accrued interest) - 2.00%INCREASE ON HOME DEPOSIT SAVER
From 4.00% to 4.40%, oddly rate sheet states 'Tax Free' (same with RSI40)
Source ~ https://www.leedsbuildingsociety.co.uk/savings/savings-account-changes/
If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.9 -
With the HSBC Regular Saver, can you cancel the standing order completely if you don't want to pay into it in a particular month?0
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