The Top Regular Savers Discussion Thread

Dizzycap

exel1966 said:

Kim_13 said:

@Bridlington1 RE entry in the Archived Thread, I believe the maximum possible balance for Melton Adcock would be £4,650 plus interest. I can’t see any mention of a maximum in the terms so I assume a 31st payment would be possible, as the accounts should be open before April.

It very clearly states on the Melton site that the maximum is £6k.

The maximum amount that can be deposited in one calendar month is £150. The maximum amount that can be held in the account is £6,000

What's achievable is very different.

6.50% gross / 6.50% AER

The interest rate is variable. The account end date of this product is 30 September 2027.

Based on the current rate of interest, if you deposited £150 on the 1 April 2025 and the 1st of each subsequent calendar month, at the end of the term, 30 September 2027, you would have £4,958.56.

Dizzycap

WindfallWendy said:

saverkev said:

Co-op bank changing some terms and conditions including the following concerning Regular Saver

 

To accurately 

reflect our 

processes

The law that applies to your agreement

What are we 

changing?

How are we changing it? Why are we 

making the 

change?

Overpayments We’re making it clearer that the £250 monthly deposit limit is a key term of your 

Regular Saver product and we could close your account if you breach this key term and 

we have to return any overpayments to you.

Indeed. I wonder how much of their issue is because they set up the SO which is very confusing for those used to setting up their own savings routines. I know I had to have an "overpayment" returned which was simply the monthly payment I'd set up. 

Interesting! Last year one of my regular monthly SO from my Co-op current account didn't go into my RS as it normally did on the 1st of the month (funds were available), so I manually made the payment. There was obviously a gremlin in the system as 6 days later a SO payment for that months max RS subcription left my co-op current account and I didn't know. Next thing I know, I received a letter in the post sayng Co-op RS closed due to over payment! This is not a new condition, for me, at least!

I did open a new RS with the co-op because of the interest rate but it's certainly not a RS without issues, as I also found out when trying to close the RS early which took over 6+ weeks  Now you'd think I would have had a total gut full by now, but yes, once again due to the interest rate,  which has yet to change, I have a new RS which has been running for 4 months without issue

Dizzycap

Bridlington1 said:

PloughmansLunch said:

I was about to fritter away a valuable stamp but thought I'd check my box of savings bumf first, and I've found a Melton freepost envelope (addressed to Oakham) that arrived with the opening of the RS Issue 6 paperwork. Not one for posting off incognito though as it has a massive colourful logo on the front.

I had a spare application pack for Melton BS lying around so have now sent that off to apply for the Adcock RS and phoned them to get them to send me an application pack with prepaid envelope which shall replace the spare application pack I've just sent off.

I've done this with a couple of building societies in the past so that I can send postal applications off quicker without having to pay for postage or print documents off.

I couldn't find mine, so printed off and used a stamp. I will however, give Melton a call tomorrow and request an application pack and this time, I'll keep it somewhere obvious

Kim_13

Dizzycap said:

exel1966 said:

Kim_13 said:

@Bridlington1 RE entry in the Archived Thread, I believe the maximum possible balance for Melton Adcock would be £4,650 plus interest. I can’t see any mention of a maximum in the terms so I assume a 31st payment would be possible, as the accounts should be open before April.

It very clearly states on the Melton site that the maximum is £6k.

The maximum amount that can be deposited in one calendar month is £150. The maximum amount that can be held in the account is £6,000

What's achievable is very different.

6.50% gross / 6.50% AER

The interest rate is variable. The account end date of this product is 30 September 2027.

Based on the current rate of interest, if you deposited £150 on the 1 April 2025 and the 1st of each subsequent calendar month, at the end of the term, 30 September 2027, you would have £4,958.56.

That would mean £4,500 of deposits and ~£460 of interest, from which I inferred the £4,650 as applications are going in with more than half of March remaining.

Another box does indeed say £6,000, which would be a 30 month account taking £200 - is that their standard limit I wonder, and a staffer has missed that this is a special edition for their 150th birthday? £200 was the limit on RS 6. RS5 is obviously different being an open ended account.

Dizzycap

Kim_13 said:

Dizzycap said:

exel1966 said:

Kim_13 said:

@Bridlington1 RE entry in the Archived Thread, I believe the maximum possible balance for Melton Adcock would be £4,650 plus interest. I can’t see any mention of a maximum in the terms so I assume a 31st payment would be possible, as the accounts should be open before April.

It very clearly states on the Melton site that the maximum is £6k.

The maximum amount that can be deposited in one calendar month is £150. The maximum amount that can be held in the account is £6,000

What's achievable is very different.

**6.50% gross / 6.50% AER

The interest rate is variable. The account end date of this product is 30 September 2027.

Based on the current rate of interest, if you deposited £150 on the 1 April 2025 and the 1st of each subsequent calendar month, at the end of the term, 30 September 2027, you would have £4,958.56 **

That would mean £4,500 of deposits and ~£460 of interest, from which I inferred the £4,650 as applications are going in with more than half of March remaining.

Another box does indeed say £6,000, which would be a 30 month account taking £200 - is that their standard limit I wonder, and a staffer has missed that this is a special edition for their 150th birthday? £200 was the limit on RS 6. RS5 is obviously different being an open ended account.

Interesting point. I copied the above ** from their website, so £150 for a 150 anniversary would be perhaps a little more logical, but confusing when it states no more than £6,000 can be held in the account. Maybe they are referring to after maturity date and the account changing into an EA account with the ability obviously to continue saving?

Bridlington1

Principality BS 6 Month Regular Saver (Issue 2) at 8% set to go NLA within hours. To be replaced by Principality BS 6 Month Regular Saver (Issue 3) at 7.5%.


Principality BS 1 Year Regular Saver Bond (Issue 35) at 5.15% also set to go NLA within hours. To be replaced by issue 36 at 4.85%.

Other account details appear to be remaining the same for both accounts.

s71hj

Dizzycap said:

Bridlington1 said:

PloughmansLunch said:

I was about to fritter away a valuable stamp but thought I'd check my box of savings bumf first, and I've found a Melton freepost envelope (addressed to Oakham) that arrived with the opening of the RS Issue 6 paperwork. Not one for posting off incognito though as it has a massive colourful logo on the front.

I had a spare application pack for Melton BS lying around so have now sent that off to apply for the Adcock RS and phoned them to get them to send me an application pack with prepaid envelope which shall replace the spare application pack I've just sent off.

I've done this with a couple of building societies in the past so that I can send postal applications off quicker without having to pay for postage or print documents off.

I couldn't find mine, so printed off and used a stamp. I will however, give Melton a call tomorrow and request an application pack and this time, I'll keep it somewhere obvious

There is a list of building society freepost addresses in the forum including this: Melton Mowbray BS
Freepost
Leicester Road
Melton Mowbray
Leicestershire
LE13 0DB
I'm pretty sure I used this successfully for their previous competitive offering

Dizzycap

s71hj said:

Dizzycap said:

Bridlington1 said:

PloughmansLunch said:

I was about to fritter away a valuable stamp but thought I'd check my box of savings bumf first, and I've found a Melton freepost envelope (addressed to Oakham) that arrived with the opening of the RS Issue 6 paperwork. Not one for posting off incognito though as it has a massive colourful logo on the front.

I had a spare application pack for Melton BS lying around so have now sent that off to apply for the Adcock RS and phoned them to get them to send me an application pack with prepaid envelope which shall replace the spare application pack I've just sent off.

I've done this with a couple of building societies in the past so that I can send postal applications off quicker without having to pay for postage or print documents off.

I couldn't find mine, so printed off and used a stamp. I will however, give Melton a call tomorrow and request an application pack and this time, I'll keep it somewhere obvious

There is a list of building society freepost addresses in the forum including this: Melton Mowbray BS
Freepost
Leicester Road
Melton Mowbray
Leicestershire
LE13 0DB
I'm pretty sure I used this successfully for their previous competitive offering

Thanks! I'll keep a note of it for any future offers;) I was just happy to get the application off in the post ASAP

Waiting for the New Principality 6 Month Saver Issue 3 @ 7.5% Fixed to become available in the next few hours

s71hj

Dizzycap said:

s71hj said:

Dizzycap said:

Bridlington1 said:

PloughmansLunch said:

I was about to fritter away a valuable stamp but thought I'd check my box of savings bumf first, and I've found a Melton freepost envelope (addressed to Oakham) that arrived with the opening of the RS Issue 6 paperwork. Not one for posting off incognito though as it has a massive colourful logo on the front.

I had a spare application pack for Melton BS lying around so have now sent that off to apply for the Adcock RS and phoned them to get them to send me an application pack with prepaid envelope which shall replace the spare application pack I've just sent off.

I've done this with a couple of building societies in the past so that I can send postal applications off quicker without having to pay for postage or print documents off.

I couldn't find mine, so printed off and used a stamp. I will however, give Melton a call tomorrow and request an application pack and this time, I'll keep it somewhere obvious

There is a list of building society freepost addresses in the forum including this: Melton Mowbray BS
Freepost
Leicester Road
Melton Mowbray
Leicestershire
LE13 0DB
I'm pretty sure I used this successfully for their previous competitive offering

Thanks! I'll keep a note of it for any future offers;) I was just happy to get the application off in the post ASAP

Waiting for the New Principality 6 Month Saver Issue 3 @ 7.5% Fixed to become available in the next few hours

Interesting. Do you know if this will be available if you also have the issue 2 one?

Stargunner

s71hj said:

Dizzycap said:

s71hj said:

Dizzycap said:

Bridlington1 said:

PloughmansLunch said:

I was about to fritter away a valuable stamp but thought I'd check my box of savings bumf first, and I've found a Melton freepost envelope (addressed to Oakham) that arrived with the opening of the RS Issue 6 paperwork. Not one for posting off incognito though as it has a massive colourful logo on the front.

I had a spare application pack for Melton BS lying around so have now sent that off to apply for the Adcock RS and phoned them to get them to send me an application pack with prepaid envelope which shall replace the spare application pack I've just sent off.

I've done this with a couple of building societies in the past so that I can send postal applications off quicker without having to pay for postage or print documents off.

I couldn't find mine, so printed off and used a stamp. I will however, give Melton a call tomorrow and request an application pack and this time, I'll keep it somewhere obvious

There is a list of building society freepost addresses in the forum including this: Melton Mowbray BS
Freepost
Leicester Road
Melton Mowbray
Leicestershire
LE13 0DB
I'm pretty sure I used this successfully for their previous competitive offering

Thanks! I'll keep a note of it for any future offers;) I was just happy to get the application off in the post ASAP

Waiting for the New Principality 6 Month Saver Issue 3 @ 7.5% Fixed to become available in the next few hours

Interesting. Do you know if this will be available if you also have the issue 2 one?

It should be, as previously they have allowed you to have one of each issue number.