The Top Regular Savers Discussion Thread

intalex

My Skipton Members Regular Saver is on my list at 7.50% but online it's showing a 7.00%, I can't find any history (nothing on the latest rate change PDF) and can only assume it's a variable rate account which tracks the BoE rate?

Matures end of the month anyway and maturity value has already been pre-calculated so it is what it is, but it's still worth knowing how the account works as regular savers with variable rates don't ring a bell...

Aidanmc

janusdesign said:

[Deleted User] said:

For those far cleverer than me, if I closed my Principality 8% saver 3 around 3 weeks early (if allowed), how much would I lose out on interest?

additionally to what @apt says, you'll soon get your maturity options (perhaps by the end of the week) - one of which should be to open an(other) Issue 3 - assuming it's still available then... weirdly, the new accounts keep the same account number details as the original maturing issue.

I didnt know this. So when maturity options arrive and select open another issue 3 regular saver, does £200 go into that and where does the remainder go?

apt

intalex said:

My Skipton Members Regular Saver is on my list at 7.50% but online it's showing a 7.00%, I can't find any history (nothing on the latest rate change PDF) and can only assume it's a variable rate account which tracks the BoE rate?

Matures end of the month anyway and maturity value has already been pre-calculated so it is what it is, but it's still worth knowing how the account works as regular savers with variable rates don't ring a bell...

The rate is/was fixed, unlike the current Members Regular saver which is 2% above base rate. The fixed rate was 7%. 7.5% was the rate for the previous issue.

intalex

apt said:

The rate is/was fixed, unlike the current Members Regular saver which is 2% above base rate. The fixed rate was 7%. 7.5% was the rate for the previous issue.

Got it, so I must have missed out updating the rate (on my list) at the last renewal...

clairec666

If I remember correctly, previous Skipton regular savers were fixed rate (I had one at 7%, matured last month). The newest one is variable, tracks 2% above the base rate, so it's just had a rate cut to 6.25% but at least there won't be any unpredictable big drops like the Natwest one.

Kim_13

intalex said:

My Skipton Members Regular Saver is on my list at 7.50% but online it's showing a 7.00%, I can't find any history (nothing on the latest rate change PDF) and can only assume it's a variable rate account which tracks the BoE rate?

Matures end of the month anyway and maturity value has already been pre-calculated so it is what it is, but it's still worth knowing how the account works as regular savers with variable rates don't ring a bell...

7.5% fixed was Issue 2 and launched in June 2023, 7% Issue 3 replaced it in January 2024 so no one could have held an Issue 2 to maturity and then opened another of the same. The current variable rate started in January 2025, so people who opened Issue 3 at launch (12th, I think) or soon after could just about have secured another Issue 3 on maturity before the Issue 4 began on the 21st this year (I think, they usually specify that the account is open to anyone who has held an account with them since the day before the RS goes on sale.)

janusdesign

Aidanmc said:

janusdesign said:

[Deleted User] said:

For those far cleverer than me, if I closed my Principality 8% saver 3 around 3 weeks early (if allowed), how much would I lose out on interest?

additionally to what @apt says, you'll soon get your maturity options (perhaps by the end of the week) - one of which should be to open an(other) Issue 3 - assuming it's still available then... weirdly, the new accounts keep the same account number details as the original maturing issue.

I didnt know this. So when maturity options arrive and select open another issue 3 regular saver, does £200 go into that and where does the remainder go?

you'll get a choice (actually lots of them!).

you can open a new account with the balance... so in my most recent instance last month, my Issue 1 matured and I chose on maturity to put £200 in another Issue 3 (my second Issue 3) and the remaining balance was transferred to another PBS account - which I withdrew to my nominated account the same day.

however, I could equally have chosen to withdraw the entire balance to another PBS account, my nominated account or I think any account elsewhere in my name - or split the balance between existing PBS accounts, my nominated account or elsewhere... as I said, lots of choices.

you'll probably get a letter in the post with optional paperwork (but no envelope!) - in my case, they included the t&c leaflet for another Issue 3, but it wasn't an option on the paper form... a few days later, the maturity option for that account was enabled online - you'll see a link in the account's box online - from there, you can make your choice.

as I mentioned yesterday, if you choose to go down the new RS Issue 3 route at maturity, the existing Issue 2 account will be converted to an Issue 3 with the same account number - so you shouldn't need to change the payee details at your nominated account for making future payments. you will also still be able to see the previous transactions in the PBS account. As long as you choose another RS Issue 3 as your maturity option (assuming still available), it shouldn't matter if PBS later withdraws that account for other customers.

i'm in the same boat as you I think, my Issue 2 matures 3 weeks today (5th June), so i'd expect something in the post soon and the option to make maturity option choices should be there online the end of next week or so.

[Deleted User]

janusdesign said:

[Deleted User] said:

For those far cleverer than me, if I closed my Principality 8% saver 3 around 3 weeks early (if allowed), how much would I lose out on interest?

additionally to what @apt says, you'll soon get your maturity options (perhaps by the end of the week) - one of which should be to open an(other) Issue 3 - assuming it's still available then... weirdly, the new accounts keep the same account number details as the original maturing issue.

Its cashflow tbh, had a sudden large problem/expense. Hopefully won't need to grab whatever I can.

janusdesign

[Deleted User] said:

janusdesign said:

[Deleted User] said:

For those far cleverer than me, if I closed my Principality 8% saver 3 around 3 weeks early (if allowed), how much would I lose out on interest?

additionally to what @apt says, you'll soon get your maturity options (perhaps by the end of the week) - one of which should be to open an(other) Issue 3 - assuming it's still available then... weirdly, the new accounts keep the same account number details as the original maturing issue.

Its cashflow tbh, had a sudden large problem/expense. Hopefully won't need to grab whatever I can.

there is always the option to open the new RS Issue 3 with just £1 of your Issue 2 balance, withdraw the rest and then optionally top up to £200 later in June if your cashflow allows at that time - but if you need the balance now, then I think closing will be your only option.

Speculator

Anyone else get an email from Saffron BS earlier this week regarding the maturity of their Members month Loyalty 8% regular saver? In the email, it says you can give your maturity instructions online or via the app using their "maturity manager feature."

Logged in via app and online and I can't see any option to give my maturity instruction.