We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Regular Savings Accounts: The Best Currently Available List!
Comments
-
Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.Bridlington1 said:
I was able to close mine by sending them a message in their app so I see no reason why you shouldn't be able to close it by sending them a message in their online webchat.trickydicky14 said:Santander Regular saver: Is it possible to close this account online please.I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.3 -
My opinion, for what it's worth, is that the Regular Savings Accounts of each savings provider which mature after 12 months should be paying at the very least the same interest rate as their one year fixed rate account(s). One could very reasonably argue that actually the 12 month Regular Savers should always pay a slightly higher interest rate than the same savings provider's one year fixed rate account(s) due to the Regular Savings Account's relatively low maximum monthly deposit and maximum final balance. Unfortunately at the present time, several leading banks and building societies e.g. HSBC, Virgin Money, Nationwide, Coventry BS and Yorkshire BS to name but a few, are paying either the same or lower (in some cases considerably lower) interest rates on their 12 month Regular Savers in comparison to their one year fixed rate account(s). As long as this situation remains the case, I personally find one year fixed rate accounts to be a much more attractive prospect for my relatively short term savings!
P.S. As it happens, I'm currently thinking that three year fixed rate accounts, both non ISAs and ISAs, rather than any longer or shorter terms are offering maybe the best all round value, as one can presently save at an annual interest rate of either c. 6% gross for standard fixed rate non ISA accounts or c. 5.5% tax free for fixed rate ISAs, without tying up one's capital for a seriously long time!1 -
Did the money transferred include interest earned to date (aka Trailing Interest)?trickydicky14 said:
Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.Bridlington1 said:
I was able to close mine by sending them a message in their app so I see no reason why you shouldn't be able to close it by sending them a message in their online webchat.trickydicky14 said:Santander Regular saver: Is it possible to close this account online please.
Just closed my RS but emptied the account first.0 -
I found my interest accrued was paid in in a separate transaction when I last used this method.flaneurs_lobster said:
Did the money transferred include interest earned to date (aka Trailing Interest)?trickydicky14 said:
Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.Bridlington1 said:
I was able to close mine by sending them a message in their app so I see no reason why you shouldn't be able to close it by sending them a message in their online webchat.trickydicky14 said:Santander Regular saver: Is it possible to close this account online please.
Just closed my RS but emptied the account first.If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.2 -
I've found it to be a bit hit and miss. When I closed the 2.5% regular saver in branch they transferred the contents into my limited eSaver followed by the interest separately. When I closed the 5% regular saver via the app, the final balance including interest was paid into my current account in one transaction.ForumUser7 said:
I found my interest accrued was paid in in a separate transaction when I last used this method.flaneurs_lobster said:
Did the money transferred include interest earned to date (aka Trailing Interest)?trickydicky14 said:
Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.Bridlington1 said:
I was able to close mine by sending them a message in their app so I see no reason why you shouldn't be able to close it by sending them a message in their online webchat.trickydicky14 said:Santander Regular saver: Is it possible to close this account online please.
Just closed my RS but emptied the account first.1 -
Yes interest also paid £4:58pflaneurs_lobster said:
Did the money transferred include interest earned to date (aka Trailing Interest)?trickydicky14 said:
Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.Bridlington1 said:
I was able to close mine by sending them a message in their app so I see no reason why you shouldn't be able to close it by sending them a message in their online webchat.trickydicky14 said:Santander Regular saver: Is it possible to close this account online please.
Just closed my RS but emptied the account first.I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.0 -
Closed all my regular savers that were paying less than 6%. So now only retaining Club Lloyds, Natwest, RBS and Skipton.1
-
Yay, (empty) account closed and £4.66 credited to current account.trickydicky14 said:
Yes interest also paid £4:58pflaneurs_lobster said:
Did the money transferred include interest earned to date (aka Trailing Interest)?trickydicky14 said:
Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.Bridlington1 said:
I was able to close mine by sending them a message in their app so I see no reason why you shouldn't be able to close it by sending them a message in their online webchat.trickydicky14 said:Santander Regular saver: Is it possible to close this account online please.
Just closed my RS but emptied the account first.0 -
Just a reminder the new Coventry BS rates come into force today. Notably:
FHS Issue 1 (NLA) now pays 5.6%
FHS Issue 2 now pays 5.05%
Regular Saver Issue 5 now pays 5.05%
6 -
Useless for most who pay any kind of tax. And even if not, these are so close to simple easy access account rates. Why even bother?Bridlington1 said:Just a reminder the new Coventry BS rates come into force today. Notably:
FHS Issue 1 (NLA) now pays 5.6%
FHS Issue 2 now pays 5.05%
Regular Saver Issue 5 now pays 5.05%0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards