Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

- Allied Irish Bank / First Trust Bank regular saver interest rate dropping from 2.75% to 1.5% from 27th July 2020 noted
- Al Rayan account removed the feeder account post (many thanks for pointing this out, I thought I had removed it)
- RCI Freedom account noted but not added to this list as it only makes payments to the linked account

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

schiff

The last payment has gone into my Santander 3% RS. At this stage I was proposing to investigate the device for keeping the full balance going at an 'interesting' rate, 3% had things not changed. But my rate has missed a step. I would have gone for 1.5%, would have considered 1%, but 0.75%?? Over the next 12 months it might seem that having £2400 earning 0.75% was a good idea at the time, but it's probably not likely.

wiseonesomeofthetime

schiff said:

Over the next 12 months it might seem that having £2400 earning 0.75% was a good idea at the time, but it's probably not likely.

Based on yesterday's experience, I can make that by skipping three takeaway coffees over the next 12 months 🤷‍♂️

That said, if there truly is no effort involved, I suppose letting it roll could be ok.

I shall be considering this in October when my Santander RS matures. I currently transfer £500 pm into my Santander 123 Lite, to meet the minimum requirements for cashback, and pay by household bills from that account.  Conveniently, this leaves me £200 pm spare that I transfer to the RS instead of returning to my main current account. 

In this circumstance, no effort is required to let it carry on. 

I can't see anything changing in the savers' favour over the next few months. Can you?

cosh25

Halifax, BOS and Lloyds Monthly Savers now down to 1.5% for new accounts opened from today. 

Club Lloyds now down to 2%.

bristolleedsfan

Club Lloyds monthly last year I opened 24 May, due to weekend, bank holiday matured last night, after midnight today interest was added, account was still Club Lloyds thus unable to take out another rate was showing 2.5%, now that i can take out another Club Lloyds monthly rate has reduced to 2%, I have put a complaint in to get 2.5% rate honoured

RG2015

bristolleedsfan said:

Club Lloyds monthly last year I opened 24 May, due to weekend, bank holiday matured last night, after midnight today interest was added, account was still Club Lloyds thus unable to take out another rate was showing 2.5%, now that i can take out another Club Lloyds monthly rate has reduced to 2%, I have put a complaint in to get 2.5% rate honoured

Just out of interest, would receiving compensation of £13 be a satisfactory outcome? The £13 is my calculation of the maximum interest reduction resulting from the rate change.

bristolleedsfan

RG2015 said:

bristolleedsfan said:

Club Lloyds monthly last year I opened 24 May, due to weekend, bank holiday matured last night, after midnight today interest was added, account was still Club Lloyds thus unable to take out another rate was showing 2.5%, now that i can take out another Club Lloyds monthly rate has reduced to 2%, I have put a complaint in to get 2.5% rate honoured

Just out of interest, would receiving compensation of £13 be a satisfactory outcome? The £13 is my calculation of the maximum interest reduction resulting from the rate change.

Thanks for doing the calculation, at midnight interest was added to Club Lloyds monthly, by 1am today when I turned off account that I opened on 24 May 2019 was still showing as a C.l.M, with new C.l.M still showing at 2.5%, unfortunate timings all of which together with a random day and time following B/H that rate change took place is all down to Lloyds timings clearly unfair to anyone who opened account on 24 May 2019,  I funded new C.L.M that i opened today @2% with £400  and will fund another £400 on 1 June

Speculator

Speculator said:

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

rate change date moved to 5th June.

Dear Customer, 

We recently wrote to you to provide advanced warning that our savings account interest rates were changing. We told you that the change will occur on 28 May 2020. 

Since contacting you, we have become aware that we have not provided the amount of time we would normally like before we make this change. We would like to inform you that we have postponed any rate changes until 5 June 2020. This will mean that you will continue to benefit from your current interest rate until this time. 

Usa2019

Am I getting 1.5% or 0.75% on my Santander regular esaver?
My RS expire last week, online banking shown as 1.5%, but the letter said issue 11 is 0.75%. which one is it?

RG2015

Usa2019 said:

Am I getting 1.5% or 0.75% on my Santander regular esaver?
My RS expire last week, online banking shown as 1.5%, but the letter said issue 11 is 0.75%. which one is it?

Issue 11 is 0.75%.

Does your online banking say it is Issue 11?