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Regular Savings Accounts: The Best Currently Available List!

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  • Wheres_My_Cashback
    Wheres_My_Cashback Posts: 4,394 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 30 August 2023 at 1:26PM
    Has anyone seen any confirmation of changes to Darlington's RS accounts (incl NLAs) in the pipeline?

    Their website states
    "Published 3 August 2023

    The Society has responded to today’s 0.25% Bank of England base rate rise by increasing interest rates across its range of savings accounts to help members maximise their savings."

    to be implemented on "some" accounts on 1 Sept, it seems

    Darlington BS have told me that their new rates will be revealed on their website on 1/9/23 and that they can't give me any further information until then.
    Right scrap that, they've just phoned me. They've gone to town with their savings rate increases:
    Regular Monthly Saver, Green Regular Saver (NLA) and Special Occasion Saver (NLA) will all rise from 4.5% to 4.6%.
    Glad I removed my funds a couple of months ago and stuck them in a 5.35% 90 day notice. they'd been hovering on the drop list for a while so no great surprise really.
  • simonsmithsays
    simonsmithsays Posts: 433 Forumite
    100 Posts First Anniversary Name Dropper
    edited 30 August 2023 at 1:30PM

    Why ? If the first payment gets made in September then the account will run for 12 months from September.
    Personally I'd much rather be benefitting from these rates as early as possible.


    Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened'.
    It absolutely makes a difference if the £600 was sat in accounts which pay less than the interest rates of the two RS Monmouthshire.

    Isnt that why any of us move money?

    Anyway enough from me



  • Why ? If the first payment gets made in September then the account will run for 12 months from September.
    Personally I'd much rather be benefitting from these rates as early as possible.


    Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened'.
    It absolutely makes a difference if the £600 was sat in accounts which pay less than the interest rates of the two RS Monmouthshire.

    Isnt that why any of us move money?

    Anyway enough from me


    Well yes, that obvious, but the initial query wasn't in that context.
  • simonsmithsays
    simonsmithsays Posts: 433 Forumite
    100 Posts First Anniversary Name Dropper
    edited 30 August 2023 at 1:40PM

    Why ? If the first payment gets made in September then the account will run for 12 months from September.
    Personally I'd much rather be benefitting from these rates as early as possible.


    Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened'.
    It absolutely makes a difference if the £600 was sat in accounts which pay less than the interest rates of the two RS Monmouthshire.

    Isnt that why any of us move money?

    Anyway enough from me


    Well yes, that obvious, but the initial query wasn't in that context.
    My initial statement was - scroll back.  You interpreted it wrongly am afraid.

    Anyway this thread is getting very clogged up.


  • I'm always amazed when people can get so excited over an extra £0.05p a day in interest. 
  • OneUser1
    OneUser1 Posts: 104 Forumite
    100 Posts Second Anniversary Name Dropper
    OneUser1 said:
    The Monmouthshire terms say the maximum is £300 per month for twelve months. I read that as a £3600 maximum.
    No, It doesn't say that, there is no maximum stipulated.

    They have only given a suggested example of interest return upon 12 months deposits just as all accounts do. That doesn't mean a 13t payment isn't possible, however MON don't usually allow them and hasn't on my previous 13 accounts with them.

    Why ? If the first payment gets made in September then the account will run for 12 months from September.
    Personally I'd much rather be benefitting from these rates as early as possible.


    Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened' unless they are the same.
    Actually yes they do say that.

    First they say (Direct quote) “The maximum you can pay in is £300 each month” That’s from their paragraph in the summary box headed How do I open and manage my account?

    They also say (Direct quote) “Interest is calculated daily and paid at the end of the 12 month term” That’s from the paragraph headed What is the interest rate?

    So those two statements taken together are clearly and unambiguously saying £300 a month maximum for 12 months which is, as I said, £3600. 

    If you can quote something different from the Monmouthshire terms and conditions please share.
  • OneUser1 said:
    OneUser1 said:
    The Monmouthshire terms say the maximum is £300 per month for twelve months. I read that as a £3600 maximum.
    No, It doesn't say that, there is no maximum stipulated.

    They have only given a suggested example of interest return upon 12 months deposits just as all accounts do. That doesn't mean a 13t payment isn't possible, however MON don't usually allow them and hasn't on my previous 13 accounts with them.

    Why ? If the first payment gets made in September then the account will run for 12 months from September.
    Personally I'd much rather be benefitting from these rates as early as possible.


    Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened' unless they are the same.
    Actually yes they do say that.

    First they say (Direct quote) “The maximum you can pay in is £300 each month” That’s from their paragraph in the summary box headed How do I open and manage my account?

    They also say (Direct quote) “Interest is calculated daily and paid at the end of the 12 month term” That’s from the paragraph headed What is the interest rate?

    So those two statements taken together are clearly and unambiguously saying £300 a month maximum for 12 months which is, as I said, £3600. 

    If you can quote something different from the Monmouthshire terms and conditions please share.
    Assume open account 25th August 2023.
    Maturity of 12 months term is 25th August 2024
    Pay in £300 on 25th August 2023 - (1 payment)
    Then pay in £300 on 1st September 2023 to 1st August 2024 inclusive. - (12 payments)
    A Monmouthshire month is a calendar month, unlike Coventry BS which is stipulated as a month from 1st payment (monthiversary)
    So, 13 payments made during 12 months term, each being £300 per month..
  • tg99
    tg99 Posts: 1,251 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    I’m a new customer to Monmouth and got the welcoming letter today. Will return the sig form in the enclosed envelope but in the meantime can I make first £300 deposit before 5pm today and thus it be allocated to my account tomorrow so can then make another £300 payment on Friday 1 Sep? It says on the letter 1 working day for receipt of deposits but also advised to do before 25th. Thx.
  • Catplan
    Catplan Posts: 413 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    tg99 said:
    I’m a new customer to Monmouth and got the welcoming letter today. Will return the sig form in the enclosed envelope but in the meantime can I make first £300 deposit before 5pm today and thus it be allocated to my account tomorrow so can then make another £300 payment on Friday 1 Sep? It says on the letter 1 working day for receipt of deposits but also advised to do before 25th. Thx.
    I got mine yesterday, I’m not risking the payment just yet, suggestions further back on this thread that it would be returned as account not up and running until the signature is with them. I didn’t want to chance it, the details required where also posted further back but I think you can also obtain them from mbs website.
  • badger09
    badger09 Posts: 11,605 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    As an existing customer, I applied for  MONBS 8% RS yesterday. Surprised to get email today saying a new account added to my online profile. Nothing showing online though & I’m now out of UK for 3 weeks so will leave funding until I get back. 
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