Regular Savings Accounts: The Best Currently Available List!

Bridlington1

Regarding the HSBC regular saver. I've just returned from my HSBC branch visit and they said the following:

• You must make at least 1 deposit of £25-£250 by SO per account month excluding the month in which you opened the account
• You may however make further deposits by manual transfer into the regular saver so long as the total amount you pay in by any method does not exceed £250 per account month and that at least £25 is deposited by SO. So if you wished you could make a £25 deposit by SO followed by a £225 manual payment into the regular saver each month or vice versa, or make a weekly deposit of £25 into the account by SO if desired.
• If you fail to make a deposit of between £25-£250 by SO each account month (excluding the month you opened the account) HSBC reserve the right to terminate their relationship with you in line with page 34 of the general terms and conditions. The person I spoke to in branch stressed that that does not mean they definitely will close your accounts for not depositing by SO each month but that they could do if they wished to since it would be a breach of their terms.

Therefore I shall be restoring my £25 SO for 2nd of each month since I have already been banned from LBG, seen my accounts closed with Barclays, am in last chance saloon with TSB and do not wish to throw HSBC onto that list for good measures.

jim1999

Bridlington1 said:

Therefore I shall be restoring my £25 SO for 2nd of each month since I have already been banned from LBG, seen my accounts closed with Barclays, am in last chance saloon with TSB and do not wish to throw HSBC onto that list for good measures.

Sometimes my family think I go too far with savings accounts, but you help me enormously to feel more normal 

Bridlington1

OneUser1 said:

The Penrith Regular Saver 300 is up and running at 6% and looks like existing members can apply.

It’s three years, variable rate and up to £300 per month. Withdrawals allowed.

Thanks for bringing this to my attention. I'll get them to send me an application pack as I have no intention of paying for a stamp. https://www.penrithbs.co.uk/savings/regular-savings/
Full terms:

Bridlington1

jim1999 said:

Bridlington1 said:

Therefore I shall be restoring my £25 SO for 2nd of each month since I have already been banned from LBG, seen my accounts closed with Barclays, am in last chance saloon with TSB and do not wish to throw HSBC onto that list for good measures.

Sometimes my family think I go too far with savings accounts, but you help me enormously to feel more normal 

I'm glad I'm of some use then. Personally I'm rather glad I'm not normal, being normal is so frightfully dull I've found.

RG2015

Re HSBC.

My main concern is losing the interest as I only use the current account for the RS SO.

5% was excellent when I opened my last one in Dec last year. Now I will be breaching my PSA, I will only get 4%.

Hence I am now utilising my wife’s unused personal allowance to get nearer 6% on fixed savers,

Bridlington1

Apologies if it's been mentioned already but according to moneyfacts Tipton and Cosley BS will launch a 5.5% regular saver tomorrow. It's branch/post opening, allows deposits of £50-£500/mth.

They'll also be launching an app version at the same rate.

happybagger

Bridlington1 said:

Thanks for bringing this to my attention. I'll get them to send me an application pack as I have no intention of paying for a stamp. https://www.penrithbs.co.uk/savings/regular-savings/

If they send the form but no return envelope, will you still apply?
Just curious.

Bridlington1

happybagger said:

Bridlington1 said:

Thanks for bringing this to my attention. I'll get them to send me an application pack as I have no intention of paying for a stamp. https://www.penrithbs.co.uk/savings/regular-savings/

If they send the form but no return envelope, will you still apply?
Just curious.

When I applied for an EA account with them not so long back (put £1 in it in case they launch any future loyalty products) it contained a prepaid envelope so I assume I won't need to worry about that.

If on the off chance it didn't contain a prepaid envelope I would still apply as I've done with H&R BS before though would be slightly irritated. Whilst I have no intention of paying for a stamp I will part with a stamp if it means getting hold of this 6% regular saver.

t1redmonkey

OneUser1 said:

The Penrith Regular Saver 300 is up and running at 6% and looks like existing members can apply.

It’s three years, variable rate and up to £300 per month. Withdrawals allowed.

Was wondering for a minute if you could just open another account that doesn't have regional restrictions, and then be eligible for this 6% one, but have now seen there's a requirement to have been a member for at least 12 months to be classed as an 'existing member' so no such luck!

ForumUser7

Bridlington1 said:

Apologies if it's been mentioned already but according to moneyfacts Tipton and Cosley BS will launch a 5.5% regular saver tomorrow. It's branch/post opening, allows deposits of £50-£500/mth.

They'll also be launching an app version at the same rate.

Good spot - odd it launches on a Saturday.

Wonder if it will be fixed or variable, and if it will allow penalty free closure or not - it says no withdrawals permitted