Regular Savings Accounts: The Best Currently Available List!

Kazza242

The Saffron BS 12 Month Members' Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

Bridlington1

Kazza242 said:

The Saffron BS 12 Month Member Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

Also their Small Saver will rise to 5.5% (up from 4.8%) on 26/7/23.

ForumUser7

Bridlington1 said:

Kazza242 said:

The Saffron BS 12 Month Member Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

Also their Small Saver will rise to 5.5% (up from 4.8%) on 26/7/23.

Thanks to both of you.

Their Child RS rises to 5.55% effective same date, from 5.05%

LZC

Kazza242 said:

The Saffron BS 12 Month Member Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

Is that going up for new accounts only or are existing accounts being increased as well?

I don’t think my small saver ever got beyond about £100 as I kept on closing it down and reopening as the rates increased!

Kazza242

LZC said:

Kazza242 said:

The Saffron BS 12 Month Member Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

Is that going up for new accounts only or are existing accounts being increased as well?

I don’t think my small saver ever got beyond about £100 as I kept on closing it down and reopening as the rates increased!

The Saffron Member Regular Saver rate increase to 5.00% applies to existing and new customers who hold (or apply for) the existing issue, which has a variable interest rate.

I'll leave it to someone else to reply about the Small Saver. 

where_are_we

LTZ - I hoped you managed to open the Saffron Loyalty small saver @9%. You shouldn`t close that one down. I do not think their will be an increase of interest rates on that account.

georged123

To get access to the 5% Saffron Members Regular Saver, what would a new customer have to do?

Bridlington1

georged123 said:

To get access to the 5% Saffron Members Regular Saver, what would a new customer have to do?

From the terms:

• You must have held a savings or mortgage account with Saffron for 12 months. Alternatively you must have been a signatory, Power of Attorney or Court of Protection with Saffron for at least 12 months.

So if you have an account with Saffron BS already just keep it open and once it's been open for 12 months you'll be eligible for the 5% RS (assuming it's still available to new customers). Even having an EA account with them with £1 in it for 12 months would do.

allegro120

LZC said:

Kazza242 said:

The Saffron BS 12 Month Member Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

I don’t think my small saver ever got beyond about £100 as I kept on closing it down and reopening as the rates increased!

I did that, but at the last increase they've changed my issue7 to "variable", so no need to closing and re-opening anymore. I've got £250 in the account now, 7 more months to go to be eligible for loyalty products.  They might not offer anything good then, but you never know.

Bridlington1

allegro120 said:

LZC said:

Kazza242 said:

The Saffron BS 12 Month Member Regular Saver interest rate will increase from 4.50% to 5.00% w.e.f. 26/07/2023.

Further details about this regular saver, here.

Source: Moneyfacts

I don’t think my small saver ever got beyond about £100 as I kept on closing it down and reopening as the rates increased!

I did that, but at the last increase they've changed my issue7 to "variable", so no need to closing and re-opening anymore. I've got £250 in the account now, 7 more months to go to be eligible for loyalty products.  They might not offer anything good then, but you never know.

I appreciate it's not much use to you now but rather than closing the account and reopening at a higher rate you could've telephoned them whenever they launched a higher rate issue of the small saver and got them to convert the existing account into an account at the higher rate.

I did that a few times last year and finished up converting the small saver into the members regular saver a few months ago and qualified for the 9% regular saver because I'd held that account continuously for over 12 months. It only took a minute or two to convert over the phone each time. I'll be ringing them again on 31/7/23 to convert the members RS back into a small saver.