Regular Savings Accounts: The Best Currently Available List!

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

Bridlington1

ForumUser7 said:

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

I imagine it's to coincide with 1st of the month, plus if they're still open on a Saturday I can't imagine it makes much difference for them whether the account is launched on a weekday or a Saturday.

wmb194

Bridlington1 said:

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.

Okay, thanks for this. IMHO it would be an insane overreaction to end a relationship because you haven't deposited a small amount of money. I'll let everyone know what happens.

Wheres_My_Cashback

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.

It's 5.50% variable from 01/07
Matures 31/07/24 - W/D to nominated a/c or roll over to another easy access a/c if no instructions passed
Interest paid 31/12 and on maturity
One account per customer
Reverts to an Easy access Maturity Saver
NO withdrawals permitted
Max £500pcm
Min opening deposit £50, Min monthly deposit £50 and Min Balance £50
Cannot miss more than 2 monthly deposits or the a/c will default to an Easy Access Saver (2.30%)

Can apply now/details available in the app

Bridlington1

Wheres_My_Cashback said:

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.

It's 5.50% variable from 01/07
Matures 31/07/24 - W/D to nominated a/c or roll over to another easy access a/c if no instructions passed
Interest paid 31/12 and on maturity
One account per customer
Reverts to an Easy access Maturity Saver
NO withdrawals permitted
Max £500pcm
Min opening deposit £50, Min monthly deposit £50 and Min Balance £50
Cannot miss more than 2 monthly deposits or the a/c will default to an Easy Access Saver (2.30%)

Can apply now/details available in the app

Also on the website:
https://www.thetipton.co.uk/our-savings/current-savings-rates-1/regular-savings/regular-saver/?r=4171

ForumUser7

Wheres_My_Cashback said:

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.

It's 5.50% variable from 01/07
Matures 31/07/24 - W/D to nominated a/c or roll over to another easy access a/c if no instructions passed
Interest paid 31/12 and on maturity
One account per customer
Reverts to an Easy access Maturity Saver
NO withdrawals permitted
Max £500pcm
Min opening deposit £50, Min monthly deposit £50 and Min Balance £50
Cannot miss more than 2 monthly deposits or the a/c will default to an Easy Access Saver (2.30%)

Can apply now/details available in the app

Bridlington1 said:

Wheres_My_Cashback said:

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.

It's 5.50% variable from 01/07
Matures 31/07/24 - W/D to nominated a/c or roll over to another easy access a/c if no instructions passed
Interest paid 31/12 and on maturity
One account per customer
Reverts to an Easy access Maturity Saver
NO withdrawals permitted
Max £500pcm
Min opening deposit £50, Min monthly deposit £50 and Min Balance £50
Cannot miss more than 2 monthly deposits or the a/c will default to an Easy Access Saver (2.30%)

Can apply now/details available in the app

Also on the website:
https://www.thetipton.co.uk/our-savings/current-savings-rates-1/regular-savings/regular-saver/?r=4171

I noticed it says 'If three monthly payments are missed, upon the third missed payment the account will revert into an Easy Access Maturity Saver'.
If the account was to be reverted into that type, do we think we would be paid the interest accrued on the balance for the time it was in the regular saver at the 5.50% rate immediately upon the reversion?
Additionally, as the easy access maturity account would (likely) have a lower rate of interest, do we think we could remove the funds, or would they remain locked away until the end of the original RS term?

I'm thinking yes - interest accrued at 5.50%, no penalty, and yes - could remove funds from the easy access maturity.

Bridlington1

ForumUser7 said:

Wheres_My_Cashback said:

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.

It's 5.50% variable from 01/07
Matures 31/07/24 - W/D to nominated a/c or roll over to another easy access a/c if no instructions passed
Interest paid 31/12 and on maturity
One account per customer
Reverts to an Easy access Maturity Saver
NO withdrawals permitted
Max £500pcm
Min opening deposit £50, Min monthly deposit £50 and Min Balance £50
Cannot miss more than 2 monthly deposits or the a/c will default to an Easy Access Saver (2.30%)

Can apply now/details available in the app

Bridlington1 said:

Wheres_My_Cashback said:

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.

It's 5.50% variable from 01/07
Matures 31/07/24 - W/D to nominated a/c or roll over to another easy access a/c if no instructions passed
Interest paid 31/12 and on maturity
One account per customer
Reverts to an Easy access Maturity Saver
NO withdrawals permitted
Max £500pcm
Min opening deposit £50, Min monthly deposit £50 and Min Balance £50
Cannot miss more than 2 monthly deposits or the a/c will default to an Easy Access Saver (2.30%)

Can apply now/details available in the app

Also on the website:
https://www.thetipton.co.uk/our-savings/current-savings-rates-1/regular-savings/regular-saver/?r=4171

I noticed it says 'If three monthly payments are missed, upon the third missed payment the account will revert into an Easy Access Maturity Saver'.
If the account was to be reverted into that type, do we think we would be paid the interest accrued on the balance for the time it was in the regular saver at the 5.50% rate immediately upon the reversion?
Additionally, as the easy access maturity account would (likely) have a lower rate of interest, do we think we could remove the funds, or would they remain locked away until the end of the original RS term?

I'm thinking yes - interest accrued at 5.50%, no penalty, and yes - could remove funds from the easy access maturity.

I noticed that too so have already sent them a message via their website to clarify. I'll update this thread when I hear back from them. My gut instinct would agree with you though but I'd rather make 100% sure before I add funds since I may need the funds prior to July.

simonsmithsays

Leeds BS
Furness BS
are being very slow selves in upping any RS rates.
Furness haven't upped theirs since March 

Any others?

TiVo_Lad

Thanks @ForumUser7 and @Bridlington1 I was thinking exactly the same thing!

ForumUser7

Anyone else got a message from Tipton app saying 'To proceed with your application we need to confirm your identity and address'? Frustrating to say the least - was hoping to get a June deposit in