Regular Savings Accounts: The Best Currently Available List!

Frogletina

Newly_retired said:

With the recent rate drop many have closed the Coventry RS. What is your experience? 

I closed mine online yesterday. It vanished from sight, and 24 hours later that money is nowhere to be seen, not in any of my Coventry accounts nor in my nominated account. Any thoughts please?

Transfers from Coventry accounts often take until the end of the following day to arrive.

surreysaver

adindas said:

typistretired said:

Does it not bother you that your £10,000 is only earning 1.20%

The idea here is the £10,000 (or whatever amount) to be dripped fed (recycled) from a lesser Easy Access saving to higher interest paying RSA spread over a period of a year. Doing this you might have a RSA maturing each month. Moreoever some regular saver are instant acces where you could access it anytime you want to. These money is to be kept as an emergency fund that you could access it anytime when you need it.

However, if you could effort to keep that money for medium to long term it is probaly better to put thah money into S&S ISA, pension, overpaying your mortgage (in case the interest is higher than saving) or even buy a property. All of these things are currently at a discounted price, that will add the attractiveness of investing rather than saving. The combination of easy access and RSA, if planned well will become a powerful tool to leverage the interest while you will still have the comfort of having an easy access to money (to some extends).

Its not worth me overpaying my mortgage - the interest rate on that has gone down to 0.85%.  In fact, I borrow more money on my mortgage to put into accounts paying 1.2% or more.  At the moment I don't even bother looking at 0% credit cards - just continue paying off ones that already exist.
I have other money in investments - this £10k is gathered during each month to then fund each regular saver at the beginning of the following month.  It is merely cash flow.  I currently have 32 Regular Savers, with an average £1,750ish in each.  Two or three Regular Savers will mature each month, thereby funding next month's deposits.

Newly_retired

Thanks typistretired and Frogletina, transfer from Coventry duly completed after 2pm. today.

arsenalboy

Has the Dudley Society anniversary saver been pulled as I cannot see it as a current option on their site?

JamesRobinson48

arsenalboy said:

Has the Dudley Society anniversary saver been pulled as I cannot see it as a current option on their site?

Thanks! - looks like it has been pulled today and replaced with a new RS paying 1.25% variable, max £250 pm.  

castle96

got in just in time - today

liamcov

(My drip feed account) Marcus base interest down to 1.05% from 30 May. Lucky to still have the bonus another few months.

margaretx9

castle96 said:

got in just in time - today

Happy anniversary!

colsten

WOW, this is unheard of! KRBS are reducing the interest rate on existing regular savers. Emails just in.

SuperHans1

colsten said:

WOW, this is unheard of! KRBS are reducing the interest rate on existing regular savers. Emails just in.

Will our suffering ever end?