The Top Regular Savers Discussion Thread

dcs34

I'd used a 5.5% cut-off for a while but as the easy access rate dropped in Gatehouse/Ulster, in the last month I moved this to 5.25% or above on the basis it meant I could open the Lloyds Monthly (since I had the Club version) and keep a link to Furness with the Xmas Regular Saver 2. This means a max monthly deposit of about £7k across 30 accounts which just about works in terms of spending time to fund them manually each month, and also in terms of managing the cashflow from monthly salary, maturing regular savers and fixed savings accounts, and dipping into easy access accounts to cover shortfalls.

I did consider setting a lower threshold but thought (perhaps ironically!) there were too many accounts in that 5% - 5.15% band and I'd have a headache working out what to open and fund each month. If rates start to fall I might open the fixed rate ones just to lock in a better rate.

Dizzycap

What_time_is_it said:

I’ve been opening a large number of regular savers and was wondering what others deem to be the cut-off point for what is worth opening and what is not?

I’ve got most of the fixed rate ones and the variables over 5%. I’m now looking at the ones that The Leeds offer at 5.05 and 4,8% variable respectively. Are they worth it? Or am I better off waiting to see what else emerges? As shown by The Loughborough’s new 5.6% one this week?

Only you can answer that question, really:-)

I've got 25 fully funded RS: 23 @ 6% and above with some NLA and 2 @ 5.5% fixed. 

My personal plan was to have 2 RS mature each month. It's worked well for the past couple of years.

My cut off is 5.5 fixed for fully funded with the exception of the YBS Loyalty saver @ 5.45% variable which I use to put monthly interest in to. I like the fact that I can close the YBS RS if I need to, without faffing around with withdrawl letters and passbooks.

If my memory serves me right, isn't there someone who has 52 or 60 RS?

Again, it really does depend on personal finances but I also like to fill my tax free T212 Cash Isa every year with a view of moving cash funds into the S&S section should / when buying opportunites arise.

flaneurs_lobster

trickydicky14 said:

subjecttocontract said:

I think the cut off point varies depending on how many you want to manage/finance. There are plenty of good payers around so I don't need to bother with the others. My cut off is currently 6% because I have 24 & don't want to spend any more time on them. We are all different, whatever suits you is the way to go.

24 regular savers, I would assume some of those are below 6%?

24 is also my count of RSs at 6% or better. Several are NLA. 

PowerSavingMode

flaneurs_lobster said:

trickydicky14 said:

subjecttocontract said:

I think the cut off point varies depending on how many you want to manage/finance. There are plenty of good payers around so I don't need to bother with the others. My cut off is currently 6% because I have 24 & don't want to spend any more time on them. We are all different, whatever suits you is the way to go.

24 regular savers, I would assume some of those are below 6%?

24 is also my count of RSs at 6% or better. Several are NLA. 

21 is my count at 6% or more... Some are NLA. Some are about to mature over the next month. I have a cut-off rate of 5%, but it depends on how favourable the terms are, and the ones under 6% don't usually get fully funded; just the minimum required pcm.

fergie_

I'm up to 8, but I think it depends on what people are doing and what their goals are.

If money is constantly being recycled (as other pots mature) or if you have other savings or decent income it is possible to fully fund a large number.

However others just like to have a small amount in each, enjoying the 'game' or are hoping a great existing members deal will come along (such as Virgin at 10% last year).

WillPS

Loughborough BS sent a message today with account details 'ready from tomorrow' (I presume because CoP wouldn't show today). Account funded.

Pretty good for a society with no online servicing!

Slinky

fergie_ said:

I'm up to 8, but I think it depends on what people are doing and what their goals are.

If money is constantly being recycled (as other pots mature) or if you have other savings or decent income it is possible to fully fund a large number.

However others just like to have a small amount in each, enjoying the 'game' or are hoping a great existing members deal will come along (such as Virgin at 10% last year).

I too am up to 8, 6 of which I've opened in the last month after I found this thread. I'm not sure I could handle the admin for loads more accounts, I need to sort out a spreadsheet so I make sure there's enough money in the right places at the right time for the standing orders.

Kim_13

WillPS said:

Loughborough BS sent a message today with account details 'ready from tomorrow' (I presume because CoP wouldn't show today). Account funded.

Pretty good for a society with no online servicing!

Just sent mine today, as online servicing does seem to be on the way. 

For the sums I'm likely to send to this account, I'm satisfied with a COP match to confirm the arrival of the funds and have set up a record for the account using the Savings Goal app. 

RosieRooBear

WillPS said:

Loughborough BS sent a message today with account details 'ready from tomorrow' (I presume because CoP wouldn't show today). Account funded.

Pretty good for a society with no online servicing!

Mine too was opened around 11am this morning after emailing my completed application form at 1:30pm yesterday. However my husband’s hasn’t yet been opened even though his application form was emailed only four minutes after mine. Hopefully it’s opened tomorrow or he’ll have to phone them to make sure they received it.

dcs34

RosieRooBear said:

WillPS said:

Loughborough BS sent a message today with account details 'ready from tomorrow' (I presume because CoP wouldn't show today). Account funded.

Pretty good for a society with no online servicing!

Mine too was opened around 11am this morning after emailing my completed application form at 1:30pm yesterday. However my husband’s hasn’t yet been opened even though his application form was emailed only four minutes after mine. Hopefully it’s opened tomorrow or he’ll have to phone them to make sure they received it.

Loughborough Holiday Monthly Saver 31.05.2026

As with other building societies I think Loughborough make use of their branch network to help manage the burden of manual administration when the central office functions get...overwhelmed...during peak times (i.e. when a new account gets posted on here!). So it's possible your applications have been sent off to different teams for processing and hence will have slightly different speeds of getting looked at.

For what it's worth I sent mine in around 6pm yesterday and have heard nothing yet. I'll give it a few more days at least before I think about following up. Worst case if it takes them several days (and requires prompting to complete) you can always ask if they'd backdate the first payment; although for maximising interest, a later opening in February is beneficial for your husband!