Regular Savings Accounts: The Best Currently Available List!

colsten

pearl123 said:

A fixed list would be good if there are any left? 

Why don't you post one if the info in the first few posts in this thread does not suffice? 

Ed-1

Special_Saver2 said:

Hi Folks,

Here is this weekend's update to this thread.

- Principality BS Regular Saver Bond issue 20 withdrawn and replaced with issue 21 which only allows £250 per month (previous issues were up to £500 per month)

- Furness BS 1 Year Regular Savings Bond (Issue 2) withdrawn

- Coventry BS Regular Saver (Issue 1) account replaced with issue 2 and included notes on having to pay in according to the date you opened the account using the example from their website and that you can only hold this if you do not have another regular saver with Coventry BS

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

The Principality BS Dylan Regular Saver Bond (Issue 7, children only) actually matures after 3 years (not 12 months) so is in the wrong section.

Yorkshire_Pud

Coventry BS Regular Saver 2 is still available but there is a message saying all their rates are under review. As it’s variable........

I opened one yesterday!

nottsphil

Yorkshire_Pud said:

 As it’s variable........

I opened one yesterday!

Can't see the logic in that. D̶i̶d̶n̶'̶t̶ ̶y̶o̶u̶ ̶k̶n̶o̶w̶ ̶t̶h̶e̶y̶ ̶c̶a̶n̶ ̶s̶l̶a̶s̶h̶ ̶t̶h̶e̶ ̶i̶n̶t̶e̶r̶e̶s̶t̶ ̶r̶a̶t̶e̶,̶ ̶t̶h̶e̶n̶ ̶c̶h̶a̶r̶g̶e̶ ̶y̶o̶u̶ ̶a̶ ̶m̶o̶n̶t̶h̶'̶s̶ ̶i̶n̶t̶e̶r̶e̶s̶t̶ ̶t̶o̶ ̶c̶l̶o̶s̶e̶ ̶t̶h̶e̶ ̶a̶c̶c̶o̶u̶n̶t̶?̶
 I opened one last week but still haven't funded it because the 16 page booklet (supposedly containing the terms and conditions) fails to mention the notice you are entitled to for an interest rate drop. 

SFindlay

nottsphil said:

Yorkshire_Pud said:

 As it’s variable........

I opened one yesterday!

Can't see the logic in that. Didn't you know they can slash the interest rate, then charge you a month's interest to close the account? 
 I opened one last week but still haven't funded it because the 16 page booklet (supposedly containing the terms and conditions) fails to mention the notice you are entitled to for an interest rate drop. 

 Terms and conditions clearly state 14 days notice will be provided for any reduction in interest rate. If rate drops too much you dont have to pay anything in each month so not a big issue anyway!! 

Yorkshire_Pud

nottsphil said:

Yorkshire_Pud said:

 As it’s variable........

I opened one yesterday!

Can't see the logic in that. Didn't you know they can slash the interest rate, then charge you a month's interest to close the account? 
 I opened one last week but still haven't funded it because the 16 page booklet (supposedly containing the terms and conditions) fails to mention the notice you are entitled to for an interest rate drop. 

The logic was I hoped they wouldn’t immediately cut the rate or if they do it won’t be the full base rate drop.
Their t&c state that if they reduce the interest rate you have 30 days after notification of a change to my detriment, to close the account or make a withdrawal with NO interest penalty.
So although I may be disappointed it might still be worth having if still over 2% and as I’m within the 14 day period I can just close it anyway. If they reduce the variable rate at any time in the future I can then choose to withdraw the funds/close without penalty.
So really I can’t lose.

JezR

Page 34 of CBSs "Saving Accounts Terms and Conditions" covers options available for adverse change in conditions including interest  rate.The
(Info as above, but this is the source.)

nottsphil

Yorkshire_Pud said:

nottsphil said:

Yorkshire_Pud said:

 As it’s variable........

I opened one yesterday!

Can't see the logic in that. Didn't you know they can slash the interest rate, then charge you a month's interest to close the account? 
 I opened one last week but still haven't funded it because the 16 page booklet (supposedly containing the terms and conditions) fails to mention the notice you are entitled to for an interest rate drop. 

The logic was I hoped they wouldn’t immediately cut the rate or if they do it won’t be the full base rate drop.
Their t&c state that if they reduce the interest rate you have 30 days to close the account or make a withdrawal with NO interest penalty.

That now makes sense. I didn't read the online terms and conditions  when opening the account because they were only the general ones. I made the mistake of thinking this important concession would be included in the booklet entitled 'Welcome to your Regular Saver (2)', where the only references (on pages 6 and 9) to withdrawing money early state there will be a charge equal to 30 days interest. 

Yorkshire_Pud

nottsphil said:

Yorkshire_Pud said:

nottsphil said:

Yorkshire_Pud said:

 As it’s variable........

I opened one yesterday!

Can't see the logic in that. Didn't you know they can slash the interest rate, then charge you a month's interest to close the account? 
 I opened one last week but still haven't funded it because the 16 page booklet (supposedly containing the terms and conditions) fails to mention the notice you are entitled to for an interest rate drop. 

The logic was I hoped they wouldn’t immediately cut the rate or if they do it won’t be the full base rate drop.
Their t&c state that if they reduce the interest rate you have 30 days to close the account or make a withdrawal with NO interest penalty.

That now makes sense. I didn't read the online terms and conditions  when opening the account because they were only the general ones. I made the mistake of thinking this important concession would be included in the booklet entitled 'Welcome to your Regular Saver (2)', where the only references (on pages 6 and 9) to withdrawing money early state there will be a charge equal to 30 days interest. 

Coventry are one of the better providers in my experience for not slashing rates immediately or as far as others. I expect the issue 1 RS will get a cut  but not as much as the newer issue 2 as they usually reward loyalty and also the issue 1 will mature earlier so can afford to be more generous and I’d expect neither to fall the full .5%.

But who knows!?

Also amended my previous post to clarify its 30 days from notification of rate drop to withdraw funds or close without penalty rather than the date the interest rate reduces. 

MaxZorin

Ipswich Building Society’s Smart Save Issue 2 regular saver has closed.