The Top Regular Savers Discussion Thread

WillPS

simonsmithsays said:

WillPS said:

simonsmithsays said:

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

In my scenario any RS that's better (or the same as) my easy access 'float' gets applied for (currently 4.75%). So your Coventry comparison which has only a limited amount of withdrawals, is irrelevant to me.

The unlimited access makes it even better.

All down to personal circumstances as Notts have plenty of branches close by me.

I too remember the days of having half a dozen Notts RS running consecutively - but their rates were much more competitive then.

Probably trying to recoup their rebranding debacle money.

Fingers crossed this is the start of them being competitive again in the RS (including mini cash ISA) market.

Not sure who this "Notts" you speak of is, there's a Nottingham BS but the only Nottinghamshire building society I'm aware of is Mansfield  

Seems a lot of faff for an account with no arbitrage over easy access you already hold but to each their own.

Even, some of, the staff in the two nearby branches (one walkable for me) refer to themselves as Notts when we chat - apologies if you're unfamiliar with this term.

I'm all too familiar, believe me. Like when people in the shire talk about "going to Notts". They're already in Notts, they're actually going to leave Notts and go to Nott[ingha]m. It's always done my head in, staff doing it is symptomatic of the problem, it doesn't give it legitimacy.

I'd be inclined to go for it if I had any confidence at all the rate will stay where it is but Nottingham BS dropped the rate for their 6% regular saver launched in September pretty quickly following just one rate drop which was widely expected during the short window that product was available. I suspect this one will be clear for the rate drop which has just happened but will fall with the next one. And I haven't even got the excuse of having to pay for parking, I'm in town regularly enough (will be walking along Parliament Street later today on my way to a platelet donation) and there are 2 other branches with 2 hrs free parking available nearby.

Like Section62 above I enjoy saving with The Nottingham but 'excellent' seems a bit of an overstatement. The 6% one I'd say was 'great', although quickly became just 'good' IMHO. 4.75% fixed would have been good. 4.75% variable with a £1000+ maximum monthly deposit would also have been good. As it is it's tricky to recommend.

Maybe I'll feel a total div in a few months when all the other variable rate regular savers around it have collapsed while this one remains stubbornly high, but I doubt it.

I am planning to use their Regular Saving ISA if it's offered again though; ISTR it appeared around this time last year.

simonsmithsays

 IStargunner said:

simonsmithsays said:

WillPS said:

simonsmithsays said:

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

In my scenario any RS that's better (or the same as) my easy access 'float' gets applied for (currently 4.75%). So your Coventry comparison which has only a limited amount of withdrawals, is irrelevant to me.

The unlimited access makes it even better.

All down to personal circumstances as Notts have plenty of branches close by me.

I too remember the days of having half a dozen Notts RS running consecutively - but their rates were much more competitive then.

Probably trying to recoup their rebranding debacle money.

Fingers crossed this is the start of them being competitive again in the RS (including mini cash ISA) market.

Not sure who this "Notts" you speak of is, there's a Nottingham BS but the only Nottinghamshire building society I'm aware of is Mansfield  

Seems a lot of faff for an account with no arbitrage over easy access you already hold but to each their own.

Even, some of, the staff in the two nearby branches (one walkable for me) refer to themselves as Notts when we chat - apologies if you're unfamiliar with this term.

I guess it depends on what you define as a 'lot of faff'.  Whilst I've got the time to do this and the rate will be higher (my float rate is reportedly reducing to 4.5 in March) it makes perfect sense to me.

If it doesn't to you then so be it.

With no online access, I imagine that this will be of no interest to most, unless they live within walking distance of a branch, because with such a small variation in interest rates to other easy access accounts, the extra interest on the limited deposits would barely pay for the car park fee when you want to make a withdrawal.

We've diverged long ago from the original post but I guess another advantage of Notts BS is that their many smaller towned locations frequently have free short stay parking too. Not that id be that keen to waste petrol on a withdrawal alone.

Hopefully you're right about the lack of interest - that'll mean less waiting for me ;-)

Anyway - probably (actually definitely) time to move on from this one.

alfred64

Bigwheels1111 said:

I’m just waiting for my West Bromwich reg saver to payout, Today I think it is.
Ive also applied for another, takes 3-5 days.
But a 6% fixed it’s a good option.

 When I opened mine last March it was my poorest rate rs. I am now holding my breath hoping it will still be available when my current one matures.

Bigwheels1111

alfred64 said:

Bigwheels1111 said:

I’m just waiting for my West Bromwich reg saver to payout, Today I think it is.
Ive also applied for another, takes 3-5 days.
But a 6% fixed it’s a good option.

 When I opened mine last March it was my poorest rate rs. I am now holding my breath hoping it will still be available when my current one matures.

I applied on Sunday not heard anything yet. Takes 3/5 days to set up.

So if you applied 3 days before your one ends, you might be in luck.

simonsmithsays

Bridlington1 said:

Loughborough BS Holiday Saver at 5.6% now NLA.

For those still wishing to open the account if you're quick you may be able to get an application in by post with the form backdated to yesterday:
https://www.theloughborough.co.uk/wp-content/uploads/2023/04/Savings-Application-form-V8-Feb-25.pdf
.

My application has been at glacial speed.

Over a week on from some clunky internal messaging with account details provided so one could fund (and the promise of the issuing of a passbook) I've received nothing.

alfred64

simonsmithsays said:

Bridlington1 said:

Loughborough BS Holiday Saver at 5.6% now NLA.

For those still wishing to open the account if you're quick you may be able to get an application in by post with the form backdated to yesterday:
https://www.theloughborough.co.uk/wp-content/uploads/2023/04/Savings-Application-form-V8-Feb-25.pdf
.

My application has been at glacial speed.

Glacial speed is very slow, though.

allegro120

simonsmithsays said:

Bridlington1 said:

Loughborough BS Holiday Saver at 5.6% now NLA.

For those still wishing to open the account if you're quick you may be able to get an application in by post with the form backdated to yesterday:
https://www.theloughborough.co.uk/wp-content/uploads/2023/04/Savings-Application-form-V8-Feb-25.pdf
.

My application has been at glacial speed.

Over a week on from some clunky internal messaging with account details provided so one could fund (and the promise of the issuing of a passbook) I've received nothing.

Loughborough.
I received the account number on 11th, funded and send them a secure message (as requested) on 12th, my passbook arrived on 14th.

simonsmithsays

Saffron small saver maturity 

Received an email today advising that I should be able to choose my instructions via the app.

Well these instructions aren't available on the app or online.

Remind me please - is it normally the next day this option becomes visible?

TIA

where_are_we

Yorkshire Building Society - I have not had received maturity instructions for my Loyalty Regular E Saver @5.45%. I made my first deposit on 22 February 2024. I presume it goes to an easy access savings account after one year ie. 22 February 2025. On that day I will withdraw the balance and open a new one. I see the interest rate drops to 5.25% on 11/3/25. Because this account allows one withdrawal, I will open a new one as 5.25% is still competitive.

Has anyone else not had a maturity warning email?

Descrabled

simonsmithsays said:

Saffron small saver maturity 

Received an email today advising that I should be able to choose my instructions via the app.

Well these instructions aren't available on the app or online.

Remind me please - is it normally the next day this option becomes visible?

TIA

The answer to your question is within the email, if you read it carefully. The options will appear in the app and online 14 days before maturity and can be used up to and no later than the day the account matures.

I assume that maturity instructions will also be received in the post and can be actioned by mail as in previous years..