Regular Savings Accounts: The Best Currently Available List!

Wheres_My_Cashback

Bridlington1 said:

Tipton & Cosley Fixed Rate Regular Saver to 31 October 2024 now 6.2% (branch/post only)

What are these societies like! 

Begin your savings journey with our Fixed Rate Regular Saver

What is the interest rate?

The fixed rate below applies from 16 September 2023:

£25 plus – 6.20% gross / AER variable until 31 October 2024. 

The interest rate on your account is fixed and won't change before the maturity date.

And again the usual issue....

Only one Regular Saver account is permitted per customer. This issue or all RS issues ?

There is also an APP version which can be opened.

Bridlington1

Bridlington1 said:

Tipton & Cosley Fixed Rate Regular Saver to 31 October 2024 now 6.2% (branch/post/app).

There seems to be a discrepancy in their Ts&Cs surrounding whether the interest rate is fixed or variable. I've just phoned them and they have confirmed it is fixed.

Also of note is that as with their previous regular saver if 3 payments are missed the account reverts into an EA account.

EDIT:
I forgot to add they've also confirmed you can hold this regular saver alongside the NLA Regular Saver to 31 July 2024

where_are_we

We have been reducing our uncompetitive RS`s. However the new Tipton & Coseley RS @ 6.2% just about gets over the line. Not so good is that no withdrawals or closure are allowed, and that you have to make at least a £25 monthly contribution and you print off an application form and post it. Hopefully being an existing customer means that ID documents are not required. However you can make 14 monthly deposits of £250. Who knows whether 6.2% will be good in the year to come!

janusdesign

where_are_we said:

We have been reducing our uncompetitive RS`s. However the new Tipton & Coseley RS @ 6.2% just about gets over the line. Not so good is that no withdrawals or closure are allowed, and that you have to make at least a £25 monthly contribution and you print off an application form and post it. Hopefully being an existing customer means that ID documents are not required. However you can make 14 monthly deposits of £250. Who knows whether 6.2% will be good in the year to come!

there is an app version paying the same rate if you want to avoid posting application forms.

flaneurs_lobster

janusdesign said:

where_are_we said:

We have been reducing our uncompetitive RS`s. However the new Tipton & Coseley RS @ 6.2% just about gets over the line. Not so good is that no withdrawals or closure are allowed, and that you have to make at least a £25 monthly contribution and you print off an application form and post it. Hopefully being an existing customer means that ID documents are not required. However you can make 14 monthly deposits of £250. Who knows whether 6.2% will be good in the year to come!

there is an app version paying the same rate if you want to avoid posting application forms.

There is a difference (may be a typo) in the "no withdrawals" descriptions on the website. The branch version is specific in saying no withdrawals includes closure, the app version does not specifically mention closure. 

EDIT : the app has the "no withdrawals, including account closure" clause as part of the description.

qbadger

Bridlington1 said:

Bridlington1 said:

Tipton & Cosley Fixed Rate Regular Saver to 31 October 2024 now 6.2% (branch/post/app).

Also of note is that as with their previous regular saver if 3 payments are missed the account reverts into an EA account.

Do we know which interest rate they would use to calculate the interest accrued so far when the account reverts to EA (for the period before the reversion)? 

friolento

Bridlington1 said:

Bridlington1 said:

Tipton & Cosley Fixed Rate Regular Saver to 31 October 2024 now 6.2% (branch/post/app).

There seems to be a discrepancy in their Ts&Cs surrounding whether the interest rate is fixed or variable. I've just phoned them and they have confirmed it is fixed.

Also of note is that as with their previous regular saver if 3 payments are missed the account reverts into an EA account.

EDIT:
I forgot to add they've also confirmed you can hold this regular saver alongside the NLA Regular Saver to 31 July 2024

Thanks for the heads up. In my excitement, I applied for TWO of these accounts.....both were opened nearly instantly. I don't want to push my luck and fund both, so I will let one of them sit there unfunded and it will be automatically deleted if no deposit is made within a fortnight.

Very smooth opening process. My electronic deposit doesn't yet show but from memory, they will credit it within a couple of hours.

Bridlington1

qbadger said:

Bridlington1 said:

Bridlington1 said:

Tipton & Cosley Fixed Rate Regular Saver to 31 October 2024 now 6.2% (branch/post/app).

Also of note is that as with their previous regular saver if 3 payments are missed the account reverts into an EA account.

Do we know which interest rate they would use to calculate the interest accrued so far when the account reverts to EA (for the period before the reversion)? 

They would calculate it as 6.2% for the period before the account reverts into an EA Maturity Saver.

subjecttocontract

For non app applications........Do I send a cheque with the postal application form or wait until they open the account ?

chris_the_bee

subjecttocontract said:

For non app applications........Do I send a cheque with the postal application form or wait until they open the account ?

Summary details says "For opening deposits made by electronic payments, you must send your initial deposit within 14 days, or the account will be automatically closed." In cases like this, I normally write on the application form that electronic payment of opening deposit will be made on receipt of Account Number.