The Top Regular Savers Discussion Thread

drphila

Coventry Loyalty Seasonal RS

A penalty-incurring RS paying 5.5% is of limited interest to me so will probably take advantage of the penalty free closure option in the next 30 days, depending what cuts other RS providers announce

Hattie627

drphila said:

Coventry Loyalty Seasonal RS

A penalty-incurring RS paying 5.5% is of limited interest to me so will probably take advantage of the penalty free closure option in the next 30 days, depending what cuts other RS providers announce

The penalty only applies until 31 October 2025, after which withdrawals/early closure are penalty free. 5.5% is still quite a good rate, given base rate of now 4.25%. 

intalex

masonic said:

Based on my experience, the money should turn up tomorrow and the new account might also be opened tomorrow if you are lucky, otherwise over the weekend (there's precendent for them being opened on Saturdays and Sundays).

Thursday morning: Old account disappeared from app, managed to apply for new one
Friday morning: Got in touch with FD who (manually) emptied the old account balance into current account
Monday morning: New account opened with first deposit debited from current account and standing order set up

ih8stress

PRINCIPALITITY BS

Hi, just opened a 6mth Regular Saver with Principality, 7.5% AER Fixed

I haven't paid any money into it yet - will be doing the maximum £200 per month.

Do I have to pay the £200 in one go, or can I do more than one payment?

(I prefer to do a test payment of £1 first when setting an account up, just in case of issues).

Going forward, am I best to pay in £200 at the beginning or end of each month - or do I have to pay it on the same date each month?

Many thanks

Rudyson

ih8stress said:

PRINCIPALITITY BS

Hi, just opened a 6mth Regular Saver with Principality, 7.5% AER Fixed

I haven't paid any money into it yet - will be doing the maximum £200 per month.

Do I have to pay the £200 in one go, or can I do more than one payment?

(I prefer to do a test payment of £1 first when setting an account up, just in case of issues).

Going forward, am I best to pay in £200 at the beginning or end of each month - or do I have to pay it on the same date each month?

Many thanks

You can make more than one payment, so £1 test is fine. You can pay on the 1st of each month if you want, but can only have a maximum of £1200, so you can't make a 7th payment for half of the final month if you've maxed the a/c

ih8stress

Hi, @Rudyson- many thanks for your quick reply and advice

clairec666

ih8stress said:

PRINCIPALITITY BS

Hi, just opened a 6mth Regular Saver with Principality, 7.5% AER Fixed

I haven't paid any money into it yet - will be doing the maximum £200 per month.

Do I have to pay the £200 in one go, or can I do more than one payment?

(I prefer to do a test payment of £1 first when setting an account up, just in case of issues).

Going forward, am I best to pay in £200 at the beginning or end of each month - or do I have to pay it on the same date each month?

Many thanks

I can confirm that you can change the date of your payment each month. I used to have a standing order set up, and cancelled that so that I could transfer manually.

You can pay a maximum of £200 per calendar month, and the sooner you put it in, the longer it will be earning interest for. So you can maximise your interest by paying in on the 1st each month.

Bigwheels1111

clairec666 said:

ih8stress said:

PRINCIPALITITY BS

Hi, just opened a 6mth Regular Saver with Principality, 7.5% AER Fixed

I haven't paid any money into it yet - will be doing the maximum £200 per month.

Do I have to pay the £200 in one go, or can I do more than one payment?

(I prefer to do a test payment of £1 first when setting an account up, just in case of issues).

Going forward, am I best to pay in £200 at the beginning or end of each month - or do I have to pay it on the same date each month?

Many thanks

I can confirm that you can change the date of your payment each month. I used to have a standing order set up, and cancelled that so that I could transfer manually.

You can pay a maximum of £200 per calendar month, and the sooner you put it in, the longer it will be earning interest for. So you can maximise your interest by paying in on the 1st each month.

I have had an issue 1, two issue 2 and an issue 3, hope to open a second issue 3 Thursday or Friday this week.

You reinvest £200 from old issue into a new one. If nothing changes I might get three issue 3.

As for the £1 payment, I've never bothered.

As long and you use the Sort code, Acc number and ref number all works fine.

Confirmation of payee never works for me.

As I open the account and fund same day so the system has not caught up yet.

On my 9th product with them.

checkly

COVENTRY BS SUNNY DAY SAVER RATE REDUCTION

From 2 June 2025, the rate on your Sunny Day Saver will decrease by up to 0.25% gross p.a.

Current rates

	Annual
Balance / Term	Gross p.a.
£0.01 plus	6.00%

New rates effective from 2 June 2025

	Annual
Balance / Term	Gross p.a.
£0.01 plus	5.75%

E_zroda

checkly said:

COVENTRY BS SUNNY DAY SAVER RATE REDUCTION

From 2 June 2025, the rate on your Sunny Day Saver will decrease by up to 0.25% gross p.a.

Current rates

	Annual
Balance / Term	Gross p.a.
£0.01 plus	6.00%

New rates effective from 2 June 2025

	Annual
Balance / Term	Gross p.a.
£0.01 plus	5.75%

...and for them it was a very difficult decision. (allegedly)