Regular Savings Accounts: The Best Currently Available List!

dlevene

aaj123 said:

Middle_of_the_Road said:

You are correct that the rates have become less attractive, but any that are 5% or above are still worthwhile, especially if one is reticent about getting involved with the current Tandem hysteria.

For me, the real comparison is the tax free rate available in ISAs vs the taxable RS rate and here there is literally no comparison at all any more. Ofcourse this is provided you have remaining ISA allowances to fill up but I make use of Flexible ISAs for current and previous year money so always looking to fill that pot up first.

Although the increase in easy access ISA rates over the last couple of BOE raises has been sluggish compared to the bank rate itself or normal EA accounts. Feels like there's a bit of a scramble around 4.8% for normal EA accounts but other products - EA ISAs, RS - left in the cold.

fonesaver

ESBS Regular Saver 4.60%. (up from 4.10%) from 21/08 

happybagger

Nationwide changing rates on "some" of their accounts, does not look like there will be any increase in Start to Save 2 account, new rates for Nationwide BS have been uploaded

source

dekkard

aaj123 said:

The RS accounts are turning into a farce as none of them have really upped their rates off late and now the best easy access rate has crept up very close to most of the RS accounts. Nothing less than 6% makes much sense to even bother with if you are even a basic rate tax payer.

I wonder if some of the people making decisions on this are on holiday and things might change in September.

bristolleedsfan

dekkard said:

aaj123 said:

The RS accounts are turning into a farce as none of them have really upped their rates off late and now the best easy access rate has crept up very close to most of the RS accounts. Nothing less than 6% makes much sense to even bother with if you are even a basic rate tax payer.

I wonder if some of the people making decisions on this are on holiday and things might change in September.

Maybe a consequence of trying to force savings providers to increase lowest paying rates in line with base rates, or at very least focus being on them doing so higher paying types of savings accounts become less attractive, gap between lowest paying and highest paying savings accounts merely narrows.

trickydicky14

Santander Regular saver: Is it possible to close this account online please.

Bridlington1

trickydicky14 said:

Santander Regular saver: Is it possible to close this account online please.

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

Bridlington1 said:

trickydicky14 said:

Santander Regular saver: Is it possible to close this account online please.

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.

Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.

cricidmuslibale

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!

flaneurs_lobster

trickydicky14 said:

Bridlington1 said:

trickydicky14 said:

Santander Regular saver: Is it possible to close this account online please.

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.

Just for info, sent message today Saturday to close RS, one hour later all done and dusted, money now in current account. Very impressed.

Did the money transferred include interest earned to date (aka Trailing Interest)?

Just closed my RS but emptied the account first.