Regular savers good rates (for how long)

savings37

How do we envisage the good regular savers rates to head to in the future?

Do you think we will start to see a decline in rates, namely from Natwest, RBS (variable)

Trying to decide whether place the cash into a fix rate now 🤔 

wmb194

savings37 said:

How do we envisage the good regular savers rates to head to in the future?

Do you think we will start to see a decline in rates, namely from Natwest, RBS (variable)

Trying to decide whether place the cash into a fix rate now 🤔 

They're often used for headline grabbing marketing so I wouldn't be surprised to see them to hold up, certainly the 6% ones. Even during the Zirp years there were 6, 7 and 8% ones. If you want to guarantee the rate and avoid some anxiety go for a fix.

masonic

Many of them are looking quite low compared to other types of savings account. You would normally expect them to be several percentage points above the best easy access rate. So I would think the likelihood is that we will see some of them improve in the coming months. I opened lots of regular savers over the past 12 months, but I've stopped filling some (continuing to meet any minimum requirements), and will not be renewing most of them as they come to maturity unless a better rate is offered.

Zaul22

Especially since they require a current account, they will stay the same to tempt switchers. 

Bigwheels1111

Tied up 18k in regular savers this year, 6,7,7,7.5 and 8%.
It has to be 6% or more for me to continue with them.

ZeroSum

In 2006 ish, I had a Halifax one paying 10% basic with a top up to 12% if you had £x in other savings with them

allegro120

savings37 said:

How do we envisage the good regular savers rates to head to in the future?

Do you think we will start to see a decline in rates, namely from Natwest, RBS (variable)

Trying to decide whether place the cash into a fix rate now 🤔 

Providing BoE is not going to significantly drop the base rate, I think RBS/Natwest will hold the same rate for a long time.  It's only £150pm and only up to £5k per customer, not a great deal for big banks.  They are loosing a bit on paying savers 6.17%, but gaining the custom.  But I could be wrong, the time will show.

orange-juice

I’d imagine regular savers with competitive rates, will be here to stay so that the banks can’t be criticised again, for their measly rates (that’s how they’ll spin it anyway). Only on small monthly deposits because they can’t be too generous.

mebu60

I'm with o-j, I expect they'll continue with decent-ish RS rates for propaganda purposes, subsidised from marketing budget, but for small monthly amounts and short durations. 

Saver73

I think regular savings accounts such as YBS at 7% with a max deposit of £500 a month, and other similar accounts will be less common but rates will hold at around 6% for lower monthly deposits.  

Albermarle

Saver73 said:

I think regular savings accounts such as YBS at 7% with a max deposit of £500 a month, and other similar accounts will be less common but rates will hold at around 6% for lower monthly deposits.  

It could be argued that one with a lower monthly deposit limit, would be able to offer a higher rate as this would limit how much they have to pay out.
Nationwide currently have one at 8% for max £200 per month.