MSE News: Skipton launches 7.5% regular saver for existing customers – here's who can get it and how

MSE_Petar

If you're a Skipton Building Society mortgage or savings customer you can now access its new 7.5% regular savings account. The eye-catching rate is one of the highest we've seen on this type of account in a decade.

Read the full story:
'Skipton launches 7.5% regular saver for existing customers – here's who can get it and how'

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Saver73

Hope to see some other banks follow this! preferably one where I still have an account open after my recent closure and reduction of accounts!

RG2015

It was possibly never table topping as Saffron BS launched a 9% loyalty regular saver at the same time. It is though limited to £50 per month.

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

Bridlington1

RG2015 said:

It was possibly never table topping as Saffron BS launched a 9% loyalty regular saver at the same time. It is though limited to £50 per month.

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

The Skipton account appeared on their website about 5 minutes before Saffron did if I recall correctly so I suppose you could argue that technically they were table topping for those brief few minutes this morning before being gazumped. I believe both appeared on moneyfacts simultaneously though.

MSE_Petar

RG2015 said:

It was possibly never table topping as Saffron BS launched a 9% loyalty regular saver at the same time. It is though limited to £50 per month.

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

Well-spotted! Thanks for flagging, @RG2015 - we'll tweak the story. It does also look like fewer people will be able to get the Saffron account (given its stricter eligibility criteria and because Saffron has far fewer members than Skipton).

RG2015

Bridlington1 said:

RG2015 said:

It was possibly never table topping as Saffron BS launched a 9% loyalty regular saver at the same time. It is though limited to £50 per month.

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

The Skipton account appeared on their website about 5 minutes before Saffron did if I recall correctly so I suppose you could argue that technically they were table topping for those brief few minutes this morning before being gazumped. I believe both appeared on moneyfacts simultaneously though.

I thought everyone had 15 minutes of fame not 5. But that aside, long may the gazumping continue! 

Saver73

I never had accounts with Skipton or Saffron though I'd have probably opened both if I had, even though I'd prefer to have less accounts to manage.  I'll wait and see what happens next!

RG2015

MSE_Petar said:

RG2015 said:

It was possibly never table topping as Saffron BS launched a 9% loyalty regular saver at the same time. It is though limited to £50 per month.

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

Well-spotted! Thanks for flagging, @RG2015 - we'll tweak the story. It does also look like fewer people will be able to get the Saffron account (given its stricter eligibility criteria and because Saffron has far fewer members than Skipton).

Thanks, but @Bridlington1 was there well before me on the Regular Saver thread at just after midnight. 

Exodi

RG2015 said:

It was possibly never table topping as Saffron BS launched a 9% loyalty regular saver at the same time. It is though limited to £50 per month.

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

Makes you wonder why a bank/BS doesn't just claim the throne by launching a >100%< loyalty regular saver

Maximum contributions capped at £1 per month. If you close the account before the end of the 12 month period, no interest will be payable. You won't be able to make partial withdrawals.

Bridlington1

Saver73 said:

I never had accounts with Skipton or Saffron though I'd have probably opened both if I had, even though I'd prefer to have less accounts to manage.  I'll wait and see what happens next!

An EA account with £1 sat in it for a year requires very little management if any. I'd go opening a few across the different building societies if I were you for the sake of becoming eligible for high paying regular savers in the future.

I've got a fair few accounts with various building societies with minimal balances that I pretty much ignore until the building society in question launches a new loyalty product, among them was a Skipton account.

Saver73

Thanks @Bridlington1

I agree it doesn't take much management.  I did have 24 accounts until recently when I closed and vastly reduced that number!

I'm not a dedicated saver as you and some others on this forum. 

I've opted instead to have fewer accounts with a selected banks and societies, particularly those who auto update the interest rates.  

A RS with a monthly limit of £500 would be ideal!