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

Section62

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/loyalty-regular-saver-3.html

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

jaypers

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

Wasn’t aware of this but looks pretty poor value……variable interest rate and it’s only 5% for ‘loyalty’ plus the penalty to withdraw. Pass from me. 

flaneurs_lobster

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Think that's a new one. Rate's not that tempting (to me) but might open and stick £100 in for an entry into the prize draw on 31 May.

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/loyalty-regular-saver-3.html

friolento

jaypers said:

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

Wasn’t aware of this but looks pretty poor value……variable interest rate and it’s only 5% for ‘loyalty’ plus the penalty to withdraw. Pass from me. 

Thanks @Section62 for the heads up.

It is definitely better value than a 4.6% easy access for my surplus funds.

Section62

friolento said:

jaypers said:

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

Wasn’t aware of this but looks pretty poor value……variable interest rate and it’s only 5% for ‘loyalty’ plus the penalty to withdraw. Pass from me. 

Thanks Section62 for the heads up.

It is definitely better value than a 4.6% easy access for my surplus funds.

Yes, I was thinking the same, but the withdrawal penalty is a bit offputting unless Coventry waive it if you close the account because they reduce the interest rate.

I think I'll wait until 1st May to open though, to avoid the faff of remembering to fund the account on the 22nd of each month.  If the account is NLA by then I think I'll be able to cope with the loss.

friolento

Section62 said:

friolento said:

jaypers said:

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

Wasn’t aware of this but looks pretty poor value……variable interest rate and it’s only 5% for ‘loyalty’ plus the penalty to withdraw. Pass from me. 

Thanks Section62 for the heads up.

It is definitely better value than a 4.6% easy access for my surplus funds.

Yes, I was thinking the same, but the withdrawal penalty is a bit offputting unless Coventry waive it if you close the account because they reduce the interest rate.

I think I'll wait until 1st May to open though, to avoid the faff of remembering to fund the account on the 22nd of each month.  If the account is NLA by then I think I'll be able to cope with the loss.

I suppose if the Coventry rate drops, this will be as a result of a base rate cut, and easy access rates will also be cut. So I would probably not want to withdraw from the RS, anyway.

The Coventry deposit date policy is a bit of a pain. I would much rather have it all happen on the 1st of a month but I get by with SOs.

happybagger

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/loyalty-regular-saver-3.html

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

There doesn't seem to be a requirement to make a monthly deposit, and there is the prize draw where the balance is £100+, so I think it's worth chucking £100 and leaving it there, even if solely for that purpose.

If the rate is becomes competitive as time progresses I'd probably start funding it then.

SJMALBA

Section62 said:

friolento said:

jaypers said:

Section62 said:

Is the Coventry Building Society 'Loyalty Regular Saver 3' @5% a new one, or have I just missed it before?

Edit:

Variable rate

£250/month max

Account opening date monthly basis

30 days interest penalty for withdrawals (applies to the amount withdrawn)

Wasn’t aware of this but looks pretty poor value……variable interest rate and it’s only 5% for ‘loyalty’ plus the penalty to withdraw. Pass from me. 

Thanks Section62 for the heads up.

It is definitely better value than a 4.6% easy access for my surplus funds.

Yes, I was thinking the same, but the withdrawal penalty is a bit offputting unless Coventry waive it if you close the account because they reduce the interest rate.

I think I'll wait until 1st May to open though, to avoid the faff of remembering to fund the account on the 22nd of each month.  If the account is NLA by then I think I'll be able to cope with the loss.

From CBS' Saving Accounts Terms and Conditions booklet (section 4), referenced in the Summary Box for this account:

MSE_Stephen

Hi everyone

We've moved some posts to Why has page 1 disappeared?

Bigwheels1111

Re Principality, 1 Year Triple Access Regular Saver (Online).

Interest on maturity ie 18/04/25 for me and others.

No interest was paid.

I made a call to Principality today and a call back after some clarification.

With this account interest is paid once a year on the 01/01/2025.

Unlike most reg saver accounts where the rest of the interest is paid on maturity this moves to an easy access

and retains the annual interest payment.

Closing the easy access generates the interest owed at that point.

SO on the 01/01/25 £10.77 interest & £9.18 interest today. Total of £19.95.

Hope this saves a few calls to Principality and a lot of time wasted on hold.

Thanks to Harriet at Principality for all your help.