Regular Savings Accounts: The Best Currently Available List!

simonsmithsays

Bridlington1 said:

ForumUser7 said:

dgpur said:

Huh. With Tandem offering 4.36% in an EA, surely none of us would go for that?

I mean, I like to have as many RS accounts open as I can, but 5% is definitely my current baseline.

I might open it to get membership with them.

Granted, it isn’t the best rate but still fits the criteria for the list as max pay in is £850 per month -  “I am only including accounts where the interest rate is 4.5% or better, or 4% if the account has favourable conditions (e.g. you can pay in £500 per month or more, or if the account matures after at least 2 years).”

I've noticed on their website though that they also have an EA saver, which although it has a £1k minimum opening and operating balance, the terms seem to imply that the balance could be reduced to below £1k at a later date, so this could possibly be the better one if you are just wanting membership since the balance may be able to be reduced to 1p or even nil. I've sent them an email to confirm if this is the case though. 

I also couldn't help but notice that it appears deposits can be made into their online accounts by debit card so that's another plus to the online regular saver I suppose.

Assuming it follows the terms of the online issue 2, the interest rate would be variable, so may rise to something more competitive in the future, though I have some doubts as to whether it will to be honest but for £50 it may be worth hedging your bets.

If I had a large chunk of EA savings below 4.4% I'd most likely be opening this account for the marginal difference in interest. but currently I'm not fully funding anything below the base rate due to my having the tracker accounts so I'll hold off since I can't imagine this account being competitive enough over the next year to warrant me funding it.

Dudley

ive got a small amount in a Dudley instant online access after a previous RS matured and the products on offer were poor.

if I remember right their tracking of upward interest rates wasn't great 

Interestingly the 4.4% variant still shows as 3.95 when you click through

ForumUser7

Bridlington1 said:

ForumUser7 said:

dgpur said:

Huh. With Tandem offering 4.36% in an EA, surely none of us would go for that?

I mean, I like to have as many RS accounts open as I can, but 5% is definitely my current baseline.

I might open it to get membership with them.

Granted, it isn’t the best rate but still fits the criteria for the list as max pay in is £850 per month -  “I am only including accounts where the interest rate is 4.5% or better, or 4% if the account has favourable conditions (e.g. you can pay in £500 per month or more, or if the account matures after at least 2 years).”

I've noticed on their website though that they also have an EA saver, which although it has a £1k minimum opening and operating balance, the terms seem to imply that the balance could be reduced to below £1k at a later date, so this could possibly be the better one if you are just wanting membership since the balance may be able to be reduced to 1p or even nil. I've sent them an email to confirm if this is the case though. 

I also couldn't help but notice that it appears deposits can be made into their online accounts by debit card so that's another plus to the online regular saver I suppose.

Assuming it follows the terms of the online issue 2, the interest rate would be variable, so may rise to something more competitive in the future, though I have some doubts as to whether it will to be honest but for £50 it may be worth hedging your bets.

If I had a large chunk of EA savings below 4.4% I'd most likely be opening this account for the marginal difference in interest. but currently I'm not fully funding anything below the base rate due to my having the tracker accounts so I'll hold off since I can't imagine this account being competitive enough over the next year to warrant me funding it.

I think I’ll go for the RS and just stick £50 in it for now. Seems to be joint with the instant tracker (which is a pretty poor tracker as it guarantees to be no more than 5% below the base rate…) minimum balance wise but has the added benefit of online opening and management, and also a much higher rate.

I considered the EA too, but the ts and cs say that they reserve the right to close it if it is below the minimum balance, so it doesn’t feel worth the risk. Thanks for flagging it though - it’s a shame they don’t cater for it like Hanley whereby it is permitted in the terms to reduce the balance as far down as £1 once opened and 14 day security period has passed.

castle96

re Dudley
what is the difference in Iss 8 and iss 3 (apart from Iss 3 can be opened online). Do you think if you close part way the interest will be payable, then?

Bridlington1

ForumUser7 said:

Bridlington1 said:

ForumUser7 said:

dgpur said:

Huh. With Tandem offering 4.36% in an EA, surely none of us would go for that?

I mean, I like to have as many RS accounts open as I can, but 5% is definitely my current baseline.

I might open it to get membership with them.

Granted, it isn’t the best rate but still fits the criteria for the list as max pay in is £850 per month -  “I am only including accounts where the interest rate is 4.5% or better, or 4% if the account has favourable conditions (e.g. you can pay in £500 per month or more, or if the account matures after at least 2 years).”

I've noticed on their website though that they also have an EA saver, which although it has a £1k minimum opening and operating balance, the terms seem to imply that the balance could be reduced to below £1k at a later date, so this could possibly be the better one if you are just wanting membership since the balance may be able to be reduced to 1p or even nil. I've sent them an email to confirm if this is the case though. 

I also couldn't help but notice that it appears deposits can be made into their online accounts by debit card so that's another plus to the online regular saver I suppose.

Assuming it follows the terms of the online issue 2, the interest rate would be variable, so may rise to something more competitive in the future, though I have some doubts as to whether it will to be honest but for £50 it may be worth hedging your bets.

If I had a large chunk of EA savings below 4.4% I'd most likely be opening this account for the marginal difference in interest. but currently I'm not fully funding anything below the base rate due to my having the tracker accounts so I'll hold off since I can't imagine this account being competitive enough over the next year to warrant me funding it.

I think I’ll go for the RS and just stick £50 in it for now. Seems to be joint with the instant tracker (which is a pretty poor tracker as it guarantees to be no more than 5% below the base rate…) minimum balance wise but has the added benefit of online opening and management, and also a much higher rate.

I considered the EA too, but the ts and cs say that they reserve the right to close it if it is below the minimum balance, so it doesn’t feel worth the risk. Thanks for flagging it though - it’s a shame they don’t cater for it like Hanley whereby it is permitted in the terms to reduce the balance as far down as £1 once opened and 14 day security period has passed.

You are right. I've had a response from them and they've said they would close the account if it fell below the minimum operating balance. I'll update my post to reflect this so apologies if I've misled anyone there.

They've also said however that there is no minimum debit card deposit amount, so you could make a 1p additional deposit if you wanted. I'll add this to the Debit card/DD thread later today.

pokemaster

Re: Dudley Reg Sav online - Looks like the minimum debit card deposit online is £10, any lower and you get an error, can't find any confirmation in the T&Cs though

happybagger

Couple of updates which I don't think I've seen here:

Swansea BS RS from 1 August 4.25% (letter)

A 'non-update'
Lough BS have amended their rates but no changes to any RS accounts (again)
Open Fixed Rate RS 5%
Open Limited Access Monthly Saver 3.75%
Regular Saver 2.5%
Closed Issue Flexible RS account still at 2.5% and Flexible Save to Buy stuck at 2%

Not best rates, this is just to remind people to get out of these accounts if they still have them

Kazza242

Kent Reliance have launched a Regular Saver, paying 5.00%

Regular Savings Account (issue 11).  

Pay in £1 - £500 per month.  The account runs for one year.  

The interest rate is variable.  The account must be opened in branch.  

https://www.kentreliance.co.uk/savings/regular-savings-account

ForumUser7

Kazza242 said:

Kent Reliance have launched a Regular Saver, paying 5.00%

Regular Savings Account (issue 11).  

Pay in £1 - £500 per month.  The account runs for one year.  

https://www.kentreliance.co.uk/savings/regular-savings-account

Good find, but branch only

soulsaver

May be worth noting that the Easy Access 4.5% level has been reached (see link below): 

So, for any of us that hadn't 'killed and re-filled' anew the LBG monthly savers 'cos there wasn't anywhere EA to match the existing rate .. well, now there is.

ForumUser7

ForumUser7 said:

Kazza242 said:

Kent Reliance have launched a Regular Saver, paying 5.00%

Regular Savings Account (issue 11).  

Pay in £1 - £500 per month.  The account runs for one year.  

https://www.kentreliance.co.uk/savings/regular-savings-account

Good find, but branch only

If anyone goes to branch, please could you see if you can get a spare application form and then scan it, screenshot it, and paste it here? I'm wondering if perhaps if we posted the forms to head office in the prepaid envelopes if they may open it. If not, no harm really. Monmouthshire was generous permitting it, so it feels worth a try.