The Top Regular Savers Discussion Thread

allegro120

where_are_we said:

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

 Hanley RS was open ended with no maturity, so might thave been worth keeping if minimum monthly funding was low eg £25/month. I will be closing mine as well. It will release funds for new 25-26 ISA deposits.

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

Hanley
I’ve just had a look. No member RS, they offer member loyalty EA paying 3.1%. “You must have been a member of the Society for a minimum period of 2 years. Membership is defined as having either a savings balance of £100 or more or a mortgage balance of £100 or more for a minimum period of 2 years prior to the date of opening a Member Loyalty Reward savings account.”…. “ You can withdraw once per calendar month without notice or penalty up to £500 in cash and £50,000 by cheque on demand from our branches or by sending us your written instructions.” 

They offer online instant access paying 1.61%. Minimum £100 deposit. Can reduce it to £1 10 days after opening.  I might do that for continuous membership, but haven’t decided yet. 

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

happybagger

allegro120 said:

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

I don't see any £10k limit in the t&cs for this account, just 5 withdrawals per year limit?

Edit: Yes I see it in the "general" savings terms. Still, only two withdrawals one day after the other.

Middle_of_the_Road

allegro120 said:

where_are_we said:

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

 Hanley RS was open ended with no maturity, so might thave been worth keeping if minimum monthly funding was low eg £25/month. I will be closing mine as well. It will release funds for new 25-26 ISA deposits.

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

Hanley
I’ve just had a look. No member RS, they offer member loyalty EA paying 3.1%. “You must have been a member of the Society for a minimum period of 2 years. Membership is defined as having either a savings balance of £100 or more or a mortgage balance of £100 or more for a minimum period of 2 years prior to the date of opening a Member Loyalty Reward savings account.”…. “ You can withdraw once per calendar month without notice or penalty up to £500 in cash and £50,000 by cheque on demand from our branches or by sending us your written instructions.” 

They offer online instant access paying 1.61%. Minimum £100 deposit. Can reduce it to £1 10 days after opening.  I might do that for continuous membership, but haven’t decided yet. 

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

Low for a regular saver, but where else  will be offering 4.7% with no withdrawal restrictions? 
I only see Tembo non-flexible ISA.

Bridlington1

Middle_of_the_Road said:

allegro120 said:

where_are_we said:

happybagger said:

Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

 Hanley RS was open ended with no maturity, so might thave been worth keeping if minimum monthly funding was low eg £25/month. I will be closing mine as well. It will release funds for new 25-26 ISA deposits.

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

Hanley
I’ve just had a look. No member RS, they offer member loyalty EA paying 3.1%. “You must have been a member of the Society for a minimum period of 2 years. Membership is defined as having either a savings balance of £100 or more or a mortgage balance of £100 or more for a minimum period of 2 years prior to the date of opening a Member Loyalty Reward savings account.”…. “ You can withdraw once per calendar month without notice or penalty up to £500 in cash and £50,000 by cheque on demand from our branches or by sending us your written instructions.” 

They offer online instant access paying 1.61%. Minimum £100 deposit. Can reduce it to £1 10 days after opening.  I might do that for continuous membership, but haven’t decided yet. 

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

Low for a regular saver, but where else  will be offering 4.7% with no withdrawal restrictions? 
I only see Tembo non-flexible ISA.

There's still a couple of EA accounts still paying north of 4.7% and the HEBS account does still limit withdrawals to 5 per year and maximum of £10k per faster payment so isn't without withdrawal restrictions.

It's not a bad regular saver to use to absorb some excess funds after filling higher rate regular savers though but even then if holding it speculatively the £250 min monthly funding and withdrawal restrictions does make it a restrictive one to maintain speculatively, especially if you're having to divert funds away from other regular savers to meet the minimum monthly pay in.

happybagger

And also currently have a Coventry 4AS (NLA) paying 4.85%, as I'm sure a few on here do.

Bridlington1

happybagger said:

And also currently have a Coventry 4AS (NLA) paying 4.85%, as I'm sure a few on here do.

In my case I've also got Coventry Cahoot Sunny Day Saver at 5% and I'm clinging onto 7% with Santander's Edge Saver Issue 1 which has another 2 1/2 months to go till the bonus ends.

Also I know some on here still have Coventry's NLA FHS Issue 1 at 4.85% till December which allows unlimited penalty-free withdrawals and could potentially have quite a bit in by now.

EDIT: Typo, should've said Cahoot not Coventry

happybagger

Bridlington1 said: I've also got Coventry Sunny Day Saver at 5% 

The good news is that account pays 6% (the NLA RS)

Unless you meant the Cahoot Sunny Day Saver which does pay 5%

allegro120

Middle_of_the_Road said:

allegro120 said:

where_are_we said:

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

 Hanley RS was open ended with no maturity, so might thave been worth keeping if minimum monthly funding was low eg £25/month. I will be closing mine as well. It will release funds for new 25-26 ISA deposits.

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

Hanley
I’ve just had a look. No member RS, they offer member loyalty EA paying 3.1%. “You must have been a member of the Society for a minimum period of 2 years. Membership is defined as having either a savings balance of £100 or more or a mortgage balance of £100 or more for a minimum period of 2 years prior to the date of opening a Member Loyalty Reward savings account.”…. “ You can withdraw once per calendar month without notice or penalty up to £500 in cash and £50,000 by cheque on demand from our branches or by sending us your written instructions.” 

They offer online instant access paying 1.61%. Minimum £100 deposit. Can reduce it to £1 10 days after opening.  I might do that for continuous membership, but haven’t decided yet. 

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

Low for a regular saver, but where else  will be offering 4.7% with no withdrawal restrictions? 
I only see Tembo non-flexible ISA.

2 Cahoots are paying 5% on £6k, 4 Cahoots 4.75% on £12k, Coventry 4 access 4.85%, 2 Coventry 5 access 4.75%.

Bridlington1

happybagger said:

Bridlington1 said: I've also got Coventry Sunny Day Saver at 5% 

The good news is that account pays 6% (the NLA RS)

Unless you meant the Cahoot Sunny Day Saver which does pay 5%

I did indeed, I keep getting them two mixed up of late for some strange reason. Post now edited.

friolento

happybagger said:

And also currently have a Coventry 4AS (NLA) paying 4.85%, as I'm sure a few on here do.

Oh, I had forgotten about that one, thanks for reminding me.

Though I wonder how long the 4.85% will last if rates go down....