The Top Regular Savers Discussion Thread

WillPS

flaneurs_lobster said:

fromscratch said:

mhoc said:

But now I am wondering if I should do the same with Lloyds regular savers, renew and then restart. 
Renewing them now would not help with having a spread of savers maturing in different months which would be a minus point and also both of our Lloyds regular savers are just 3 months old so not a high balance in them.
But is an interest rate drop for Lloyds inevitable and sooner rather than later so should I just get on and do it ....

I had a letter yesterday about 2 other savers I have with Lloyds (child saver and some really low interest thing I don't keep any Money in)- the rates of those are both reducing. But the Club Lloyds Saver was not on the letter so I don't think they are reducing the rate- yet. 

The Lloyds Monthly Savers (Club & otherwise) are Fixed Rate for their year duration so their rates won't be changing.

But of course the rate for new applications could change at any time. That said there is remarkably little movement among the loss leading 'current account sidekick' offers thusfar, other than HSBC briefly boosting theirs around Savings Week then dropping it back. Long may it remain so....

s71hj

WillPS said:

flaneurs_lobster said:

fromscratch said:

mhoc said:

But now I am wondering if I should do the same with Lloyds regular savers, renew and then restart. 
Renewing them now would not help with having a spread of savers maturing in different months which would be a minus point and also both of our Lloyds regular savers are just 3 months old so not a high balance in them.
But is an interest rate drop for Lloyds inevitable and sooner rather than later so should I just get on and do it ....

I had a letter yesterday about 2 other savers I have with Lloyds (child saver and some really low interest thing I don't keep any Money in)- the rates of those are both reducing. But the Club Lloyds Saver was not on the letter so I don't think they are reducing the rate- yet. 

The Lloyds Monthly Savers (Club & otherwise) are Fixed Rate for their year duration so their rates won't be changing.

But of course the rate for new applications could change at any time. That said there is remarkably little movement among the loss leading 'current account sidekick' offers thusfar, other than HSBC briefly boosting theirs around Savings Week then dropping it back. Long may it remain so....

In terms of feeder account for regular savers I have to say I was thinking of switching to have all standing orders from Kroo but am increasingly thinking I'll stick with Santander Edge as, it similarly being a loss leader I suspect they will be reluctant to dump their top line features such as their interest rate. The only attraction of Kroo is standing orders go out weekend days.

surreysaver

Anyone with the original Principality Learner Earner, I've received notification that the rate is reducing from 5.35% to 5.15% from 13th March

Bridlington1

From 14/3/25:

Saffron BS Small Saver to reduce from 5% to 4.7%

Saffron BS 12 Month Members' Regular Saver to reduce from 4.75% to 4.5%

Saffron BS Ware Regular Saver ~~~ NO CHANGE ANNOUNCED AS OF YET ~~~~ set to remain at 4.75%

Descrabled

Saffron Small Saver

Last week I said that this regular saver was worth having at 4.75% because of the customer service; I thought the reduction would be 0.25%. I'm not sure that it's now worth retaining because the larger reduction indicates a problem at Saffron.

I'll decide when/if they offer a further fixed rate when their fixed rate regular saver matures in June.

Thanks anyway Brid.

Bridlington1

Descrabled said:

Saffron Small Saver

Last week I said that this regular saver was worth having at 4.75% because of the customer service; I thought the reduction would be 0.25%. I'm not sure that it's now worth retaining because the larger reduction indicates a problem at Saffron.

I'll decide when/if they offer a further fixed rate when their fixed rate regular saver matures in June.

Thanks anyway Brid.

I emptied my small saver a while back to free up funds for other regular savers. I'm holding onto it for now though as it's due to mature on 30/4/25 and I'd like to push the interest into the next tax year but I can't see myself funding it fully funding it again before then so £1 is all that remains in it. It's my oldest Saffron account so I'll most likely ``refresh" it around late April again into another Small Saver speculatively and keep it for membership purposes.

At 4.7% though it risks being removed from page 1 of this thread under the current thresholds. That being said I'm currently leaning towards reducing the thresholds for inclusion shortly anyway due to the top easy access account interest rates slipping in recent weeks so it may end up being retained on page 1.

WillPS

Descrabled said:

Saffron Small Saver

Last week I said that this regular saver was worth having at 4.75% because of the customer service; I thought the reduction would be 0.25%. I'm not sure that it's now worth retaining because the larger reduction indicates a problem at Saffron.

I'll decide when/if they offer a further fixed rate when their fixed rate regular saver matures in June.

Thanks anyway Brid.

I don't want to sound like an apologist, but I think it's hard to conclude that a rate drop of 0.05% more than the base rate the drop is in response to is indicative of any sort of "problem".

It's just a tweak to their positioning of the account; or in other words a business decision.

allegro120

Bridlington1 said:

Descrabled said:

Saffron Small Saver

Last week I said that this regular saver was worth having at 4.75% because of the customer service; I thought the reduction would be 0.25%. I'm not sure that it's now worth retaining because the larger reduction indicates a problem at Saffron.

I'll decide when/if they offer a further fixed rate when their fixed rate regular saver matures in June.

Thanks anyway Brid.

I emptied my small saver a while back to free up funds for other regular savers. I'm holding onto it for now though as it's due to mature on 30/4/25 and I'd like to push the interest into the next tax year but I can't see myself funding it again before then so £1 is all that remains in it. It's my oldest Saffron account so I'll most likely ``refresh" it around late April again into another Small Saver speculatively and keep it for membership purposes.

At 4.7% though it risks being removed from page 1 of this thread under the current thresholds. That being said I'm currently leaning towards reducing the thresholds for inclusion shortly anyway due to the top easy access account interest rates slipping in recent weeks so it may end up being retained on page 1.

Saffron Small Saver
When the rate dropped to 5% I've decided to leave it to mature as is, but kept making £1 monthly deposits in order to comply with t&c. I don't have a copy of t&c, but copied key sentences into my spreadsheet some years ago, it says "You must deposit between £1 and £50 per calendar month".  It looks like I didn't need to do these £1 transactions. Is this another example of unenforced t&c or t&c have changed or I got it all mixed up?

Bridlington1

allegro120 said:

Bridlington1 said:

Descrabled said:

Saffron Small Saver

Last week I said that this regular saver was worth having at 4.75% because of the customer service; I thought the reduction would be 0.25%. I'm not sure that it's now worth retaining because the larger reduction indicates a problem at Saffron.

I'll decide when/if they offer a further fixed rate when their fixed rate regular saver matures in June.

Thanks anyway Brid.

I emptied my small saver a while back to free up funds for other regular savers. I'm holding onto it for now though as it's due to mature on 30/4/25 and I'd like to push the interest into the next tax year but I can't see myself funding it again before then so £1 is all that remains in it. It's my oldest Saffron account so I'll most likely ``refresh" it around late April again into another Small Saver speculatively and keep it for membership purposes.

At 4.7% though it risks being removed from page 1 of this thread under the current thresholds. That being said I'm currently leaning towards reducing the thresholds for inclusion shortly anyway due to the top easy access account interest rates slipping in recent weeks so it may end up being retained on page 1.

Saffron Small Saver
When the rate dropped to 5% I've decided to leave it to mature as is, but kept making £1 monthly deposits in order to comply with t&c. I don't have a copy of t&c, but copied key sentences into my spreadsheet some years ago, it says "You must deposit between £1 and £50 per calendar month".  It looks like I didn't need to do these £1 transactions. Is this another example of unenforced t&c or t&c have changed or I got it all mixed up?

Apologies I should've been clearer, post has now been edited for clarity. I should've put I've not been fully funding the account for a while. It still receives funding though, but the account allows 1 withdrawal/mth so I just withdraw the amount deposited each month so the balance is kept at £1 most of the time.

kar999

Apologies if this has been answered previously but with the TSB monthly saver I believe the T&C's state that the regular monthly payment should be by standing order.

Does this have to be from a TSB current a/c?
Or...
Can it be a s/o from another bank?
or...
Can it be by a bank transfer from another bank?

Many thanks in anticipation.