The Top Regular Savers Discussion Thread

Stargunner

35har1old said:

Hattie627 said:

35har1old 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. 

May reduce the rate for new applications 
BOS renewing account.not working yesterday and today

The online renewal feature on the B of S Monthly Saver hasn't been working for several months, ditto the close early online button.  I had to let mine run to maturity in December, hoping they would keep the fixed rate at 5.50% for my new one, which they fortunately did. I haven't checked, but I think it's still being offered at 5.50% fixed.

Lucky the close option wasn't working closing account prevents you opening a new monthly saver until maturity  date of previous one as per the terms

Although the t&c's say that, it is not enforced, and you can open one the next day. Same applies for Halifax and Lloyds.

HHUK

allegro120 said:

I don't think you need to leave £1 in Smart Saver .... Also this is not really the account worth keeping.

It's probably a case of overkill and there may well be no need to, but for the sake of £1 I'm happy to keep the Co-operative Bank Smart Saver open and funded in case it makes life easier when it comes to opening new accounts at some point in the future.

35har1old

Hattie627 said:

35har1old 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. 

May reduce the rate for new applications 
BOS renewing account.not working yesterday and today

The online renewal feature on the B of S Monthly Saver hasn't been working for several months, ditto the close early online button.  I had to let mine run to maturity in December, hoping they would keep the fixed rate at 5.50% for my new one, which they fortunately did. I haven't checked, but I think it's still being offered at 5.50% fixed.

Sames only to apply to the options on monthly saver selection will let you renew any other existing BOS savings

surreysaver

HHUK said:

allegro120 said:

I don't think you need to leave £1 in Smart Saver .... Also this is not really the account worth keeping.

It's probably a case of overkill and there may well be no need to, but for the sake of £1 I'm happy to keep the Co-operative Bank Smart Saver open and funded in case it makes life easier when it comes to opening new accounts at some point in the future.

Shouldn't make a difference if you've got their current account, which is needed for the regular saver in the first place 

Section62

surreysaver said:

HHUK said:

allegro120 said:

I don't think you need to leave £1 in Smart Saver .... Also this is not really the account worth keeping.

It's probably a case of overkill and there may well be no need to, but for the sake of £1 I'm happy to keep the Co-operative Bank Smart Saver open and funded in case it makes life easier when it comes to opening new accounts at some point in the future.

Shouldn't make a difference if you've got their current account, which is needed for the regular saver in the first place 

Co-op

My only other account with them is the current account, so I've decided to retain the Smart Saver because although it is only a year-old account it would become my oldest account should anything happen to the current account. (like many of us for 'loyalty' reasons I work on the basis of keeping the oldest account with a financial institution open whenever possible).

I'm not expecting anything to happen to the Co-op current account anytime soon, but the Coventry takeover could go either way - maybe Coventry will want to continue to be a player in the current account market, or maybe they will ultimately decide that isn't part of the business they want to retain.

I figured that less interest than elsewhere on £1, plus maintaining a line on my spreadsheet, was probably worth it for not having to think too hard about the Co-op's future direction.

Hattie627

Monmouthshire BS  Exclusive RS Issue 2: reducing to 5.20% (from 5.65%) on 14 March. A whopping 0.45% drop. Source: email just received

Speculator

received same email from Monmouthshire. 

Lucky I only got £850 in the account. Still might close it before the next big drop.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 5.65  New Rate (%)  5.20

Stargunner

Speculator said:

received same email from Monmouthshire. 

Lucky I only got £850 in the account. Still might close it before the next big drop.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 5.65  New Rate (%)  5.20

When will the next big drop occur, or are you just speculating 😁

WillPS

Speculator said:

received same email from Monmouthshire. 

Lucky I only got £850 in the account. Still might close it before the next big drop.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 5.65  New Rate (%)  5.20

What a let down this account has been.

Speculator

I assume the Monmouthshire Ex reg allow closures without penalties. I am going to use the money to help fund our 4 x 6.17% regulars.