The Old Regular Savers Discussion Thread 28/12/24-29/1/26

allegro120

Kim_13 said:

flaneurs_lobster said:

MarkFromCornwall said:

daz378 said:

…but then prompted me to change my password...I backed out out as thought this strange...when I rang guy said they do this periodically

Progressive BS
It’s excessive.  They have required me to change my password at least three times.

In a week? A year?

I got the impression when I was asked to change mine this month that it must be every three months, as I was a new customer in October 2025 when Rainy Day Issue 4 was launched.

Progressive
I became a new customer on 5th July 2024 (issue 1) and only had to change my password once, I think it was when they refurbished their online platform.

Kim_13

ForumUser7 said:

PowerSavingMode said:

Speculator said:

Sorry if already posted but Progressive Online Regular Rainy Day Saver Account 3 down to 5.25% from ½

Progressive Online Regular Rainy Day Saver

Thank you. For anyone wondering, the product terms and general savings terms state that this account can't be closed because of the rate reduction — I've just trawled through the documentation. Ah well...

Terms do seem to suggest fixed term accounts don’t allow closure where the rate reduces, but this feels highly unorthodox for a variable rate product. Anyone tried to close because of the rate change and been prohibited?

They allow unlimited withdrawals so all but £1 (the minimum balance) can be withdrawn at any time. Even if they would still not allow closure, it would be difficult to argue that the rate reduction on £1 was of a material detriment to them, especially as the drop has done no more than pass on the base rate cut.

allegro120

PowerSavingMode said:

Speculator said:

Sorry if already posted but Progressive Online Regular Rainy Day Saver Account 3 down to 5.25% from ½

Progressive Online Regular Rainy Day Saver

Thank you. For anyone wondering, the product terms and general savings terms state that this account can't be closed because of the rate reduction — I've just trawled through the documentation. Ah well...

It can't be closed but the withdrawals are allowed.  The only sacrifice is £1 and compounding interest at a lower rate, which is still above what any EA account can generate at this time.

Pickledonionlover

Interest rate changes - yet to declare

Can I just do a sense check please? These are my RS outstanding.

Penrith (300 and e-saver)
Monmouthshire (RS8, app exclusive and branch exclusive)
Melton RS6 and Adcock
YBS £50 rs
Leeds iss 58
Mansfield RS4

Thanks in advance 

Bridlington1

Pickledonionlover said:

Interest rate changes - yet to declare

Can I just do a sense check please? These are my RS outstanding.

Penrith (300 and e-saver)
Monmouthshire (RS8, app exclusive and branch exclusive)
Melton RS6 and Adcock
YBS £50 rs
Leeds iss 58
Mansfield RS4

Thanks in advance 

YBS's £50 RS declared no change as part of their rate cuts on 2/2/26
Leeds RS Issue 58 falls from 4.85% to 4.6% on 4/2/26
Mansfield have announced rate cuts from 1/2/26, I do not yet know what's happening with Issue 4, but their currently available accounts have their rate changes known.

The rest are yet to declare as far as I'm aware.

Stargunner

Furness BS 160 Year Anniversary RS

I posted an application form and cheque 1st Class on Thursday. My RS has been opened and is now showing in the app. That was quick, shame they can't get deposits to show so quickly   

PRAISETHESUN

liger said:

What happens to the TSB Monthly Saver if you switch out the TSB current account and you don't have any other accounts with TSB?  Should I close down the Monthly Saver before the switch takes place?

My understanding is that nothing happens to your RS, but without a current account then it makes withdrawals very annoying. I'd probably get it closed before your switch.

happybagger

I've just had an email from Earl Shilton on their rate changes
Their monthly regular saver goes from 3.60%

... to 6.00%

I kid you not. I had to double check it wasn't a new product.

edit: new product. the existing RS terms allow up to £1k per month and unlimited balances but the new interest rates show up to £500 pm max balance £5k

former product now listed as closed issue

source 

flaneurs_lobster

happybagger said:

I've just had an email from Earl Shilton on their rate changes
Their monthly regular saver goes from 3.60%

... to 6.00%

I kid you not. I had to double check it wasn't a new product.

I'm not sure what is happening here as the existing RS terms allow up to £1k per month and unlimited balances but the new interest rates show up to £500 pm max balance £5k

source 

Those terms are so different that it must be a new product?

NB: Current product is not unlimited funding (no product ever is)  - max balance £100k.

GetRichOrDieSaving

ESBS 

So are they releasing a new RS at 6% or just upping the rate of the current one, meaning that we open the current one first an await the 6% rate increase on 1st Feb?