Regular Savings Accounts: The Best Currently Available List!

Bridlington1

Nick_C said:

Nationwide Flex Regular Saver - does everyone agree that there is nothing to stop us making a 13th payment on 1/9/24?  I read the T&Cs and didn't see anything about a maximum amount for the account.

I can't see anything stopping you from getting a 13th payment in either and was able to get a 13th payment into the previous Flex Regular Saver with almost identical Ts&Cs if that's anything to go by.

subjecttocontract

Bridlington1 said:

subjecttocontract said:

Bridlington1 said:

Bigwheels1111 said:

Am I going mad or is £1250.00 a month in Regular savers a bit over board.

That is £15,000 a year.

No wonder I have no cash.

If you think that's overboard, according to my calculations I'll be paying £7821 into regular savers next month. Mine's largely just me moving my own money about since I empty EA accounts into regular savers and once they're exhausted I empty regular savers into higher paying regular savers. It could be considered overboard but I don't care as I quite enjoy it really.

EDIT: Here is my October provisional list. Everything at or below SRBS I do not plan to fully fund so shows the minimum funding:

Bank/building society	Name				Interest rate		Deposit
Saffron BS	Members Month Loyalty Saver				9.00%		£50.00
Nationwide BS	Flex Regular Saver Issue 2				8.00%		£200.00
Monmouthshire BS	Exclusive Regular Saver				8.00%		£300.00
Skipton BS	Members Branch Regular Saver				7.50%		£250.00
Bath BS	16-25 regular saver				7.49%		£50.00
YBS	Loyalty 2023 Regular eSaver				7.00%		£500.00
First Direct	Regular Saver				7.00%		£300.00
Monmouthshire BS	Regular Saver Issue 2				7.00%		£300.00
Tipton & Cosley BS	Regular Saver to 31 October 2024 app				6.20%		£250.00
Natwest	Digital Regular Saver				6.17%		£150.00
RBS	Digital Regular Saver				6.17%		£150.00
Mansfield BS	Kick Start Regular Savings (7th issue)				6.10%		£250.00
Penrith BS	Regular Saver 300 (Heartland only)				6.00%		£300.00
YBS	Christmas 2023 Regular Savings Bond				5.75%		£300.00
Tipton & Cosley BS	Regular Saver to 31 July 2024 app				5.75%		£500.00
Saffron BS	Small Saver				5.75%		£50.00
Monmouthshire BS	Coronation Regular Saver				5.60%		£300.00
Coventry BS	First Home Saver				5.60%		£1,000.00
Principality BS	Regular Savings Bond Issue 33				5.50%		£250.00
Nationwide BS	Start to Save Issue 2				5.50%		£50.00
Monmouthshire BS	Christmas saver Bond Issue 5				5.50%		£200.00
Coventry BS	Regular Saver				5.50%		£500.00
YBS	Regular Saver				5.25%		£250.00
Hinckley & Rugby BS	Regular Saver 30 Day Notice				5.25%		£500.00
Leeds BS	Regular Saver Issue 36				5.25%		£250.00
Leeds BS	Home Deposit Saver				5.15%		£500.00
Stafford Railway BS	Regular Saver Issue 1				5.15%		£25.00
HSBC	Regular Saver				5.00%		£25.00
Loughborough BS	Limited Access Monthly Saver				4.75%		£1
Bath BS	Homestart Regular Saver				4.89%		£50.00
Darlington BS	Regular Saver				4.60%		£0.00
Darlington BS	Green Regular Saver				4.60%		£0.00
Mansfield BS	Regular eSaver				4.50%		£10.00
Mansfield BS	Regular Saver				4.50%		£10.00
Buckinghamshire BS	Regular Saver				4.10%		£0.00

No Halifax @ 5.5% ?

There's a good reason for that. See:
https://forums.moneysavingexpert.com/discussion/6433933/lbg-closing-all-my-accounts-on-18th-may/p1

Oh yes, I'd forgotten the issues with LBG.

ColdIron

Nick_C said:

Nationwide Flex Regular Saver - does everyone agree that there is nothing to stop us making a 13th payment on 1/9/24?  I read the T&Cs and didn't see anything about a maximum amount for the account.

No that's fine, it's a 'calendar month' type RS. I have been making 13 payments for years. My final payment via SO is 01/09/24

Section62

Nick_C said:

Tried 3 times and got the "we can't go ahead with your application" error message.

Tried a 4th time and refused saying I could only have one of this type of account.

Went back to the accounts list, and the new account was there.  

I think their systems are overwhelmed.

Bit daft of them to say "try applying again" if it results in multiple (pending) applications from each member.  I'd imagine that will only add to the system overload, and at the very least tie up staff to deal with the duplicate accounts.

ForumUser7

Some people mentioned it would be good if Nationwide was offering a switching bonus - there is one https://www.nationwidemediacentre.co.uk/news/nationwide-launches-top-of-market-gbp-200-switching-incentive-and-8-percent-regular-saver

cloud_dog

ForumUser7 said:

Some people mentioned it would be good if Nationwide was offering a switching bonus - there is one https://www.nationwidemediacentre.co.uk/news/nationwide-launches-top-of-market-gbp-200-switching-incentive-and-8-percent-regular-saver

Thought I would partake of this option for some regular cash we have available.  Was really quite surprised by how invasive NW are on information required in the application process (amount you will save this year, how much you earn, address of your employer, etc), which I would consider to be irrelevant for a savings account application.

So, disappointed with NW.

Cottage_Economy

cloud_dog said:

ForumUser7 said:

Some people mentioned it would be good if Nationwide was offering a switching bonus - there is one https://www.nationwidemediacentre.co.uk/news/nationwide-launches-top-of-market-gbp-200-switching-incentive-and-8-percent-regular-saver

Thought I would partake of this option for some regular cash we have available.  Was really quite surprised by how invasive NW are on information required in the application process (amount you will save this year, how much you earn, address of your employer, etc), which I would consider to be irrelevant for a savings account application.

So, disappointed with NW.

I was quite surprised as well but then I realised that my employer's name is on my salary deposit each month and they can work out roughly what I earn from that deposit as well, so there's nothing new to know about me on that score. Still felt a bit intrusive though

BestSeagull

The current account switch requires 2 direct debits. My spare current accounts don't have any and I am not going to start messing about with the direct debits I do have.

I'm wondering if it's worth opening a Nationwide current account in order to be able to qualify for the regular saver?

subjecttocontract

BestSeagull said:

The current account switch requires 2 direct debits. My spare current accounts don't have any and I am not going to start messing about with the direct debits I do have.

I'm wondering if it's worth opening a Nationwide current account in order to be able to qualify for the regular saver?

I came to the conclusion it wasn't worth a switch or opening a new Nationwide current account to make around £106 from a monthly saver after 1 year. I can do better than that elsewhere.

Nick_C

BestSeagull said:

The current account switch requires 2 direct debits. My spare current accounts don't have any and I am not going to start messing about with the direct debits I do have.

I'm wondering if it's worth opening a Nationwide current account in order to be able to qualify for the regular saver?

Very easy to generate 2 Direct Debits, and £200 tax free switching bonus is almost double what you will get in interest fron the Flex Regular Saver.  Go for it.

Bridlington1 maintains an excellent thread with ideas for generating DDs.

https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

My favourite is the Currensea Debit Card.  A debit card transaction on the Currensea Card generates a Direct Debit from your linked bank account.  You can link two accounts.  Not only is the Currensea card free, but if you apply for it via Top Cashback you will get £10 cashback.  A small additional payment each month to two of council tax, mobile phone, broadband, utilities etc - job done.