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

Bridlington1

A summary of changes to the first page of The Top Regular Savers Discussion Thread between 28th December 2024 and 30th January 2025:

A link to this post is included on the first page of The Archived History Of Regular Savers Thread *** NO CHAT*** thread.

I have now cleared out the recently NLA regular savers list on the first page of The Top Regular Savers Discussion Thread.

The following accounts have been removed between 28/12/24 and 3/1/25:

~~~~~NLA  31/12/24~~~~~~Leeds BS Regular Saver (Issue 59)

Interest rate: 4.95% gross p.a. variable (this interest rate first noted 29th November 2024)
Monthly payment: £0-£250 per calendar month
Miss any payments: Yes, miss as many as you wish
Penalty-free withdrawals: One withdrawal per calendar year (including account closure) without notice or loss of interest, subject to the minimum balance of £100 being maintained
Age of applicant: Aged 18 or over
How to open account: Branch, online or post
Length of account term: Matures 1/12/2026
Maximum balance: £6,000 plus interest
Deposits on non-working days: Treated as having been received the same day.
Special conditions: You may only hold one Leeds Building Society Regular Saver product of any issue at a time. Withdrawals/closure can be made by faster payment over the phone.

~~~~~~NLA 2/1/25 ~~~~~~Progressive BS Online Regular Rainy Day Saver Account (Issue 2)
Interest rate: 4.75% gross p.a. variable
Monthly payment: £0-£300 per calendar month
Miss any payments: Yes as many as you like
Penalty-free withdrawals: Yes, 1 withdrawal per day.
Age of applicant: Aged 18 or over
How to open account: Online
Length of account term: 12 months from opening
Maximum balance: £3,600
Deposits on non-working days: Treated as having been received the next working day.
Special conditions: N/A

~~~~~NLA  2/1/25~~~~~~Chorley BS Regular Saver (30.11.2025)
Interest rate: 5.15% gross p.a. variable
Monthly payment: £25-£300 per calendar month
Miss any payments: Yes, miss as many as you like
Penalty-free withdrawals: None, but the account can be closed early without penalty
Age of applicant: Age 18 years old or older
How to open account: Branch, post or online***
Length of account term: Matures on 30/11/25
Maximum balance: N/A
Deposits on non-working days: Treated as having been received the next working day.
Special conditions: Initial deposit must be received by 31/12/24. Only one Regular Saver and one Seasonal Saver can be held in any 12 month rolling period.*** As of 28/12/24 online applications appear to have been suspended, Chorley BS regularly launch a new regular saver each month so I presume the account is going to be withdrawn and replaced shortly.

~~~~~NLA 14/1/25~~~~~~Loughborough BS 5 Year Retirement Monthly Saver
Interest rate: 5.5% gross p.a. variable (this interest rate first noted on 7th September 2024)
Monthly payment: £55-£550
Miss any payments: If you miss a monthly payment, the account will be closed and transferred to a Regular Saver issue 1
Penalty-free withdrawals: Withdrawals are limited to two per account year. The account year runs from the account opening date.

Age of applicant: Aged 55 or over
How to open account: Branch or post
Length of account term: 5 years from the date of opening
Maximum balance: £33,000
Deposits on non-working days: Treated as having been received the next working day.
Special conditions: N/A

~~~~~~NLA 16/1/25 ~~~~~~Melton BS Regular Saver (Issue 6)
Interest rate: 6% gross p.a. variable (this interest rate first noted September 2024)
Monthly payment: £0-£200 per calendar month
Miss any payments: Yes, miss as many as you wish
Penalty-free withdrawals: As many as you like
Age of applicant: Age not stated
How to open account: Branch or post
Length of account term:  Matures 30th September 2026
Maximum balance: The maximum amount that can be held in the account is £6,000 (assuming the maximum subscription is added each month, with interest added to the account)
Deposits on non-working days: Treated as having been received the same day.
Special conditions: Withdrawals can be made to your nominated account by phone.

~~~~~~NLA 21/1/25 ~~~~~~ Skipton BS Member Regular Saver (Issue 3)
Interest rate: 7% gross p.a. fixed
Monthly payment: £0-£250 per calendar month
Miss any payments: Yes, miss as many as you like
Penalty-free withdrawals: No withdrawals except for account closure
Age of applicant: Aged 16 and over
How to open account: Branch, online, post or telephone
Length of account term: 12 months from date of first deposit
Maximum balance: £3,000
Deposits on non-working days: Treated as having been received the next working day.
Special conditions: You need to hold a continuous membership with Skipton Building Society (a Savings Share account or a Mortgage) starting on or before 11th January 2024 with a minimum balance of £1. Any unused monthly allowances can be rolled over to future months, up to a maximum of £3,000 over the 12-month term. Joint accounts are not allowed. You can only hold one Member Regular Saver account (either a Member Regular Saver or a Branch Member Regular Saver) in your name at any one time.

~~~~~~NLA 23/1/25 ~~~~~~ Principality BS First Home Steps Savings Account (Issue 4)

Interest rate: 4.85% gross p.a. variable from 5th December 2024
Monthly payment: £0-£1,500 per calendar month
Miss any payments: Miss as many payments as you wish
Penalty-free withdrawals: Yes, 3 per calendar year
Age of applicant: Aged 18 or over
How to open account: Branch or agency only
Length of account term: 5 years from opening
Maximum balance: £25,000 plus interest
Deposits on non-working days: Treated as having been received the same day.
Special conditions: You can only open this account if you do not own or have not previously owned a property. If you complete on a Principality Building Society residential mortgage on your first home in England or Wales and your First Home Steps Account has been open between 1 and 5 years, with at least the minimum balance, you may be eligible for a Celebratory Bonus of £500 (see your First Home Steps Account account terms). The Celebratory Bonus will be paid into your First Home Steps Account on completion of the mortgage. Shall be converted to issue 5 on 6th March 2025.

~~~~~~NLA 23/1/25 ~~~~~~ Principality BS First Home Steps Online Savings Account (Issue 3)

Interest rate: 4.85% gross p.a. variable from 5th December 2024
Monthly payment: £0-£1,500 per calendar month
Miss any payments: Miss as many payments as you wish
Penalty-free withdrawals: Yes, 3 per calendar year
Age of applicant: Aged 18 or over
How to open account: Online
Length of account term: 5 years from opening
Maximum balance: £25,000 plus interest
Deposits on non-working days: Treated as having been received the same day.
Special conditions: You can only open this account if you do not own or have not previously owned a property. If you complete on a Principality Building Society residential mortgage on your first home in England or Wales and your First Home Steps Account has been open between 1 and 5 years, with at least the minimum balance, you may be eligible for a Celebratory Bonus of £500 (see your First Home Steps Account account terms). The Celebratory Bonus will be paid into your First Home Steps Account on completion of the mortgage. Shall be converted to issue 5 on 6th March 2025.

~~~~~~NLA 29/1/25 ~~~~~~Coventry BS Loyalty Seasonal Saver
Interest rate: 6% gross p.a. variable
Monthly payment: £0-£250 per account month
Miss any payments: Miss as many as you like
Penalty-free withdrawals: Withdrawals/closure is permitted subject to a 30 day interest penalty on the funds withdrawn until 31/10/25, from 1/11/25 withdrawals/closure shall become penalty free. The penalty for closing the account is waived if Coventry BS have announced a cut to the interest rate of this account in the last 30 days. 
Age of applicant: Age 16 or over
How to open account: Branch, phone, post, online
Length of account term: 12 months from account opening
Maximum balance: N/A
Deposits on non-working days: Treated as having been received the same day.
Special conditions: Only for people who have held a savings or mortgage account with Coventry BS, ITL or Godiva continuously since 1 January 2024 or earlier

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The following accounts have been added between 28/12/24 and 30/1/25 (see first page of The Top Regular Savers Discussion Thread for details):

Progressive BS Online Regular Rainy Day Saver Account (Issue 3) at 6% ~~~~ Launched 2/1/25

Furness BS Christmas Regular Saver Issue 2 at 5.25% ~~~ Launched 14/1/25

Chorley BS Regular Saver (31.12.2025)  at 5.15% ~~~ Launched 2/1/25

Yorkshire Building Society Christmas 2025 eSaver/saver  at 5% ~~~ Launched 15/1/25

Leeds BS Regular Saver (Issue 60) at 4.95% ~~~ Launched 31/12/24

Principality BS First Home Steps Savings Account (Issue 5) at 4.85% ~~~ Launched 23/1/25

Skipton BS Member Regular Saver (Issue 4) at 6.75% ~~~ Launched 21/1/25

Dizzycap

jameseonline said:

Just applied for the 6.75% Skipton, not had an email with account details though, the app displays an account number though, does the email take long to arrive?.

My confirmation email with full account details arrived next day but I was able to fund immediately with a card payment from my nominated account.

KneadtheDough

surreysaver said:

saverkev said:

jameseonline said:

Ahh the advantage of having a poopy easy access account with minimum deposit & having it a year or whatever.

Definitely going to apply for this, hopefully the rate won't drop too much.

Got several accounts ending in March/April but could fund a new account earlier out of NatWest or RBS Digital funds.

Going to have to take some money out of those anyways to cover February deposits.

Can I fund at end of a month then start of next month or am I tied to the date like I am with my Coventry Loyalty?

As a matter of interest possibly, anything you take out of Natwest or RBS Digital Regular Savers can be replaced in the same month (in addition to the £150 deposit if still building) 

Are you sure about that? Are you not confusing the Digital Regular Saver with the Savings Builder?

Natwest Digital Regular Saver -- replacing withdrawals

I asked an agent (via chat) yesterday specifically about this, and it's not the case: they said anything above the £150 paid in pcm will be returned. Shame.

surreysaver

PowerSavingMode said:

surreysaver said:

saverkev said:

jameseonline said:

Ahh the advantage of having a poopy easy access account with minimum deposit & having it a year or whatever.

Definitely going to apply for this, hopefully the rate won't drop too much.

Got several accounts ending in March/April but could fund a new account earlier out of NatWest or RBS Digital funds.

Going to have to take some money out of those anyways to cover February deposits.

Can I fund at end of a month then start of next month or am I tied to the date like I am with my Coventry Loyalty?

As a matter of interest possibly, anything you take out of Natwest or RBS Digital Regular Savers can be replaced in the same month (in addition to the £150 deposit if still building) 

Are you sure about that? Are you not confusing the Digital Regular Saver with the Savings Builder?

Natwest Digital Regular Saver -- replacing withdrawals

I asked an agent (via chat) yesterday specifically about this, and it's not the case: they said anything above the £150 paid in pcm will be returned. Shame.

Until you try it, you don't know. Agents will just tell you what the T&Cs say, assuming they know what the T&Cs say.

AmityNeon

PowerSavingMode said:

surreysaver said:

saverkev said:

As a matter of interest possibly, anything you take out of Natwest or RBS Digital Regular Savers can be replaced in the same month (in addition to the £150 deposit if still building)

Are you sure about that? Are you not confusing the Digital Regular Saver with the Savings Builder?

Natwest Digital Regular Saver -- replacing withdrawals

I asked an agent (via chat) yesterday specifically about this, and it's not the case: they said anything above the £150 paid in pcm will be returned. Shame.

Likely incorrect. This was already addressed.

Throughout the years, the collective knowledge garnered by forumites and then shared here for further discussion has resulted in revelations of various quirks and other tidbits of product knowledge that will not be found through official channels, and in some cases, even directly contradict T&Cs.

Chat agents are one of the least reliable sources of accurate information regarding the technical specificities of an account. I've even had dedicated complaint handlers and "senior" teams spend months attempting to resolve my query, only for them to collectively demonstrate an utter lack of understanding of technical nuance (re. how interest is calculated), dismiss me to the FOS, and then pay me compensation far in excess of the product's illustrated interest example. They also sent a spreadsheet containing the details I initially requested, finally resolving my query, although they never bothered to actually explain its contents — I had to analyse it myself.

OneUser1

SRBS are allowing people to add a special lump sum payment of up to £12,000 to their 4.9% variable regular saver. Might appeal to some.

OneUser1

More detail about SRBS including it can be multiple payments:

You can contribute up to £12,000 in addition to the usual monthly maximum of £1,000 between 01 February 2025 and 31 March 2025 inclusive. That’s up to a whole year’s worth of additional funds at the current interest rate of 4.90% Gross/AER!

and


The funds can be sent as a single lump sum or as multiple amounts providing that they do not exceed an additional £12,000. Please note that we will not accept cheques, cash or internal transfers.

As far as I can tell you need to have an existing Regular Saver account but I guess it’s possible it might work if you opened one quickly. But that is only my speculation so don’t rely on it.

saverkev

PowerSavingMode said:

surreysaver said:

saverkev said:

jameseonline said:

Ahh the advantage of having a poopy easy access account with minimum deposit & having it a year or whatever.

Definitely going to apply for this, hopefully the rate won't drop too much.

Got several accounts ending in March/April but could fund a new account earlier out of NatWest or RBS Digital funds.

Going to have to take some money out of those anyways to cover February deposits.

Can I fund at end of a month then start of next month or am I tied to the date like I am with my Coventry Loyalty?

As a matter of interest possibly, anything you take out of Natwest or RBS Digital Regular Savers can be replaced in the same month (in addition to the £150 deposit if still building) 

Are you sure about that? Are you not confusing the Digital Regular Saver with the Savings Builder?

Natwest Digital Regular Saver -- replacing withdrawals

I asked an agent (via chat) yesterday specifically about this, and it's not the case: they said anything above the £150 paid in pcm will be returned. Shame.

Natwest/RBS Digital Regular Savers

I did it successfully a number of times - presumably it works as the money is replaced in the same month meaning the balance does not increase by more than £150

Speculator

My TSB Monthly Saver matured today  but finding it difficult to make my 1st payment today.

Can't do an internal transfer becuase TSB does not recognise the Monthly Saver and can't pay from an external account due to CoP.  I know it takes 24hrs for CoP to work on new accounts.

Any suggestions?

Section62

Speculator said:

My TSB Monthly Saver matured today  but finding it difficult to make my 1st payment today.

Can't do an internal transfer becuase TSB does not recognise the Monthly Saver and can't pay from an external account due to CoP.  I know it takes 24hrs for CoP to work on new accounts.

Any suggestions?

If you have a TSB current account try paying from there - as if the monthly saver was an external account (sort code/acc number), rather than as an internal transfer.