The Top Regular Savers Discussion Thread

allegro120

Kim_13 said:

allegro120 said:

Dizzycap said:

allegro120 said:

Bridlington1 said:

Loughborough BS have launched two regular savers:


Loughborough BS 1 Year Super Saver Account (Local) at 6% (var), £1k min monthly deposit, £2k max monthly deposit. 

Loughborough BS 2 Year Super Saver Account (Local) at 5%, £500 min monthly deposit, £1k max monthly deposit. 


Both accounts allow 1 withdrawal per account year (1st April-31st March) plus closure, are branch/post only and available only to new and existing customers residing in the postcodes LE, DE, NG.

Judging by the way they appear on moneyfacts they seem to have been launched before today so I'm listing them as being launched on 14/4/25 for now.

It says on the website that you can open them in branch or by post.  I called my nearest branch and has been told that you can only open it in branch, so I've made an appointment for next Tuesday.

That's very strange, as there's a downloadable print off form available on the Loughborough website for the BS 1 Year Super Saver (local) @ 6% (var) to send through the post? 🤔I printed it off directly this morning with no problems. Will have to wait and see if there's any opening issues via postal application, but I doubt it!

Yes, I suspect the advice I was given was incorrect.  However, given the circumstances it should be quicker for me to open in branch.  I have no working printer and forthcoming 4 days of Easter break could delay the process. Luckily I'm only 8 miles away from the branch.

Last time (Holiday Monthly Saver 5.6%) I've asked them to send me the form, scanned it and sent by e-mail together with pictures of ID - that worked, took only 6 days (incl. weekend) for the account to be opened.  I'm not sure if e-mail application would work for 1 Year Super Saver, but this could be the quickest way.

I didn’t see anything to suggest that email applications were accepted this time whereas it was clearly stated before. I suspect that as they have heavily restricted these accounts (existing customer or local is more common) email isn’t necessary. I’d guess they got more email applications for Holiday Monthly than any other type - if you were local, it saved the wait for the appointment and any travel expenses in attending and if you weren’t, it saved the postage. As a result, I (and probably others too) opened it speculatively and only expect to pay in the maximum two or three times during the term, so not really worth it for them for the £3 and some odd pence currently in it.

I’ve always been curious about branch openings, but as the only building societies with a local branch for me are Coventry or Nationwide, it’s always been possible or required to open online. Do societies allow you to hand in a completed application at a counter and either process it for you or forward it to the correct department, or do you always have to have an appointment and they go through the application with you?

Long time ago I opened BS accounts in branches without appointments, providing the branch is not too busy. These days you do need an appointment, at least in my experience. 

When opening an account in branch can't simply hand in the application form at the counter.  You are taken to a separate room, they often offer you a drink, tell you everything about the account, you fill in the form, they photocopy your ID documents and by the end of session your account is opened, you are presented with passbook, booklets, info sheets to take home.  The process can take up to 30 minutes or longer depending on the person who is opening the account for you. 

WillPS

It probably varies by society, but my experience is that if you're an existing member of a society opening a new account, they will prefill an application form for you using the details on file and issue a new passbook there and then without an appointment.

If you're a new or returning member they tend to want appointments.

masonic

Kim_13 said:

allegro120 said:

Dizzycap said:

allegro120 said:

Bridlington1 said:

Loughborough BS have launched two regular savers:


Loughborough BS 1 Year Super Saver Account (Local) at 6% (var), £1k min monthly deposit, £2k max monthly deposit. 

Loughborough BS 2 Year Super Saver Account (Local) at 5%, £500 min monthly deposit, £1k max monthly deposit. 


Both accounts allow 1 withdrawal per account year (1st April-31st March) plus closure, are branch/post only and available only to new and existing customers residing in the postcodes LE, DE, NG.

Judging by the way they appear on moneyfacts they seem to have been launched before today so I'm listing them as being launched on 14/4/25 for now.

It says on the website that you can open them in branch or by post.  I called my nearest branch and has been told that you can only open it in branch, so I've made an appointment for next Tuesday.

That's very strange, as there's a downloadable print off form available on the Loughborough website for the BS 1 Year Super Saver (local) @ 6% (var) to send through the post? 🤔I printed it off directly this morning with no problems. Will have to wait and see if there's any opening issues via postal application, but I doubt it!

Yes, I suspect the advice I was given was incorrect.  However, given the circumstances it should be quicker for me to open in branch.  I have no working printer and forthcoming 4 days of Easter break could delay the process. Luckily I'm only 8 miles away from the branch.

Last time (Holiday Monthly Saver 5.6%) I've asked them to send me the form, scanned it and sent by e-mail together with pictures of ID - that worked, took only 6 days (incl. weekend) for the account to be opened.  I'm not sure if e-mail application would work for 1 Year Super Saver, but this could be the quickest way.

I didn’t see anything to suggest that email applications were accepted this time whereas it was clearly stated before.

This is what I see on the "How to Apply" tab:

allegro120

WillPS said:

It probably varies by society, but my experience is that if you're an existing member of a society opening a new account, they will prefill an application form for you using the details on file and issue a new passbook there and then without an appointment.

If you're a new or returning member they tend to want appointments.

This happened to me recently when I opened Loughborough 5 Year Retirement as a new customer.  I gave them my details on the phone when booked the appointment and my application form was prefilled.  

Dizzycap

masonic said:

Kim_13 said:

allegro120 said:

Dizzycap said:

allegro120 said:

Bridlington1 said:

Loughborough BS have launched two regular savers:


Loughborough BS 1 Year Super Saver Account (Local) at 6% (var), £1k min monthly deposit, £2k max monthly deposit. 

Loughborough BS 2 Year Super Saver Account (Local) at 5%, £500 min monthly deposit, £1k max monthly deposit. 


Both accounts allow 1 withdrawal per account year (1st April-31st March) plus closure, are branch/post only and available only to new and existing customers residing in the postcodes LE, DE, NG.

Judging by the way they appear on moneyfacts they seem to have been launched before today so I'm listing them as being launched on 14/4/25 for now.

It says on the website that you can open them in branch or by post.  I called my nearest branch and has been told that you can only open it in branch, so I've made an appointment for next Tuesday.

That's very strange, as there's a downloadable print off form available on the Loughborough website for the BS 1 Year Super Saver (local) @ 6% (var) to send through the post? 🤔I printed it off directly this morning with no problems. Will have to wait and see if there's any opening issues via postal application, but I doubt it!

Yes, I suspect the advice I was given was incorrect.  However, given the circumstances it should be quicker for me to open in branch.  I have no working printer and forthcoming 4 days of Easter break could delay the process. Luckily I'm only 8 miles away from the branch.

Last time (Holiday Monthly Saver 5.6%) I've asked them to send me the form, scanned it and sent by e-mail together with pictures of ID - that worked, took only 6 days (incl. weekend) for the account to be opened.  I'm not sure if e-mail application would work for 1 Year Super Saver, but this could be the quickest way.

I didn’t see anything to suggest that email applications were accepted this time whereas it was clearly stated before.

This is what I see on the "How to Apply" tab:

Yes, that's what I did. Downloaded, completed, scanned & sent with usual ID doc scans via email. I should hear something tomorrow morning either way

Kim_13

West Brom Fixed Rate Regular Saver (Issue 7) paying 6% has also gone to branch opening only. 

Speculator

Looks like the Market Harborough Fixed rate regular saver has gone down to 5.8%

Fixed Term Regular Saver (30.06.2026) - Market Harborough

francoghezzi

Speculator said:

Looks like the Market Harborough Fixed rate regular saver has gone down to 5.8%

Fixed Term Regular Saver (30.06.2026) - Market Harborough

This is a new account and it has a fixed rate of interest from the date it is funded until the maturity date so it can't go down. The only change in interest rate is as if we compare it to the two previous regular savers both fixed to 6% (the first one could be opened on line and it matures Nov 25, the second was branch only like this issue and it matures march 26)

alfred64

Kim_13 said:

West Brom Fixed Rate Regular Saver (Issue 7) paying 6% has also gone to branch opening only. 

Perhaps the bs is doing this so that the interest rate can remain at 6% now that the rate has become competitive. It will surely restrict applicants anyway. Easy for me as I live in the West Midlands.
When I first opened the account despite - ' You can also pop in to your local branch or book an appointment.'
the branch I entered insisted I make an appointment despite there being not a single customer in the branch, but three staff talking amongst themselves. I left it at that and visited another branch a few miles away and was able to open the account on the spot. Upon maturity I could withdraw only £500 in cash with the remainder by cheque (less £250 which started another account)  Never thought to enquire if it could be sent by bank transfer. Will do so next time.
 

Speculator

francoghezzi said:

Speculator said:

Looks like the Market Harborough Fixed rate regular saver has gone down to 5.8%

Fixed Term Regular Saver (30.06.2026) - Market Harborough

This is a new account and it has a fixed rate of interest from the date it is funded until the maturity date so it can't go down. The only change in interest rate is as if we compare it to the two previous regular savers both fixed to 6% (the first one could be opened on line and it matures Nov 25, the second was branch only like this issue and it matures march 26)

Thats why I said "fixed" rate regular saver. On page 1, it still says 6% so needs amending.