Regular Savings Accounts: The Best Currently Available List!

typistretired

So does mine but didn’t want to mention. Matures January

colsten

db3745 said:

We have 5 year fixed rate cash ISAs maturing end May. Probably time to ditch most or all savings in ISAs with a widening gap in rates on offer compared with non - ISA accounts. In my decision-making I'm looking for 1st time at Notice accounts for some of the money. Taking the example of the top-quoted one - United Trust @ 1.45%, can someone verify that, being a variable rate account, if the rate reduces I would still have to give the 200 days notice? I'd be more likely to choose the 1.40% for 100 days, but neither if I'd be at the mercy of a rate reduction. Is the rule applicable to all such accounts?

db3745 said:

My apologies. Reading further I see it's covered in the column, i.e. I should be allowed to take out cash without waiting the notice period. Still no guarantees, but helps to know.

Your inquiry is in the wrong thread. This thread is about Regular Savings accounts, not about ISAs or fixed rate bonds. If you need further comments, you should start a new thread. Suffice to say, though, that I couldn't find any variable rate savings accounts, at United Trust Bank, or any 100 day 1.4% account, so you should provide more detail about the accounts you have questions about.

Speculator

colsten said:

db3745 said:

 Probably time to ditch most or all savings in ISAs with a widening gap in rates on offer compared with non - ISA accounts. 

You shouldn't be driven solely by the interest gap between ISAs and non-ISA accounts. If your interest income remains below your personal savings allowance, not just now, but also in the years to come, then by all means, ditch the ISA. Also, if the personal savings allowance vanishes, you might regret taking your money out of its ISA wrapper

My wife is a non-taxpayer so she will be closing her ISAs and depositing it into her RCI 1.90% 5 yr Bond. Best Clydesdale could offer her was 1.15% ISA fixed for 3 years for her maturing ISA. Big drop from the 2.7% she was getting.
Back to regular savings, good to see my Coventry Regular savings account (formerly Stroud & Swindon) is still paying 2.05%.

Speculator

Saffron BS 170th birthday Regular Saver reduced to 2.00% from 28th May.
Nearing maturity anyway I think.

margaretx9

Speculator said:

Saffron BS 170th birthday Regular Saver reduced to 2.00% from 28th May.
Nearing maturity anyway I think.

I see their 4% maximum £50 a month regular saver has also been withdrawn from sale. You could only earn a maximum £13 of interest a year even if you invested £50 on the first day of the month anyway - but when will we see 4% regular savers again?!

Gray001

Northern Ireland's First Trust Bank (AIB NI) regular saver decreasing from 2.75% to 1.5% from 27th July 2020. Makes me wonder if saving accounts are worth it anymore as rates are dropping all over the place. If it was the other way round i.e. Bank of England increased the base line interest I wonder would if how long they would take to increase rates or if they would bother at all...

colsten

There are still several RSs which pay 2% and upwards, fixed rate, taking some £1,950 a month between them. For the vast majority of people, that's more than they can put to one side each month. Some (incl myself) can obviously afford more. Nice problem to have, given the current circumstances.

dcs34

colsten said:

There are still several RSs which pay 2% and upwards, fixed rate, taking some £1,950 a month between them. For the vast majority of people, that's more than they can put to one side each month. Some (incl myself) can obviously afford more. Nice problem to have, given the current circumstances.

Closer to £3,000 personally, or is the £1,950 only those accounts which are still available today at fixed rates above 2%?

colsten

The latter.

Although I don't have any variable rate 2% or above myself now, as they all got slashed. The most recent one I closed was my Scottish BS as it's now down to 1.35%. I get that in my Al Rayan instant access, without having to shift money about.


EDIT: Correction. I do still have a 2% variable one - KRBS, which will drop from 3% to 2% in early June. I'll keep that one to maturity if the interest rate stays around 2%.

movingon

I don't know if this might help anyone vis a vis feeder accounts. 
Yesterday I was contemplating my newly opened RCI Freedom account as the interest rate is reducing after five minutes from 1.20% to 1.01%. However, it turns out that you can schedule future dated regular withdrawals. As this makes life a bit easier for me, rather than manually withdrawing bits through the month for my regular savers, I have decided to keep it.. You can have as much on deposit as you like, rather than the limits earning similar interest on some current accounts.