The Top Regular Savers Discussion Thread

pecunianonolet

jameseonline said:

I'm not sure what to do with my Coventry Sunny Day now as my current rule is ditch anything lower than 6%, does this account have any penalties for closing early?.

No penalties, just click close account when logged in and it is gone straight away.

jameseonline

pecunianonolet said:

jameseonline said:

I'm not sure what to do with my Coventry Sunny Day now as my current rule is ditch anything lower than 6%, does this account have any penalties for closing early?.

No penalties, just click close account when logged in and it is gone straight away.

Thanks, I know their other accounts have penalties on interest if you close early etc.

Seems I might not need to close anyway for time being if at all, recently got back my online access to Principality and it seems both of my 6 month issue 2 accounts end next month, maxed out at £1200 each.

Going forward I think I'm going to open a 7% First Direct, fund a 7% CO OP, get an issue 3 Principality.

Also open a new Club Lloyds & maybe a new TSB.

Then possibly open a new Saffron members month if that ends up being a thing.

I wonder if HSBC will do a 7% account again?.

allegro120

jameseonline said:

pecunianonolet said:

jameseonline said:

I'm not sure what to do with my Coventry Sunny Day now as my current rule is ditch anything lower than 6%, does this account have any penalties for closing early?.

No penalties, just click close account when logged in and it is gone straight away.

Thanks, I know their other accounts have penalties on interest if you close early etc.

Seems I might not need to close anyway for time being if at all, recently got back my online access to Principality and it seems both of my 6 month issue 2 accounts end next month, maxed out at £1200 each.

Going forward I think I'm going to open a 7% First Direct, fund a 7% CO OP, get an issue 3 Principality.

Also open a new Club Lloyds & maybe a new TSB.

Then possibly open a new Saffron members month if that ends up being a thing.

I wonder if HSBC will do a 7% account again?.

TSB is 5% now.

I very much doubt HSBC will be offering 7% in foreseen future.

janusdesign

Speculator said:

jim1999 said:

Speculator said:

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.

It is quite a badly written email, but it also says "Select Maturity Manager option on the account.  This will be available up to 14 days before the maturity date."

I'm assuming you are currently more than 14 days from the maturity date?

Thanks, yes, mine matures 1st June so I will try again on Monday.

for me, the maturity options are now available on the account details link...

i'll likely choose to have the full balance returned to my nominated account - but out of interest, have Saffron announced any rate changes to the Small Saver yet?

pecunianonolet

jameseonline said:

pecunianonolet said:

jameseonline said:

I'm not sure what to do with my Coventry Sunny Day now as my current rule is ditch anything lower than 6%, does this account have any penalties for closing early?.

No penalties, just click close account when logged in and it is gone straight away.

Thanks, I know their other accounts have penalties on interest if you close early etc.

Seems I might not need to close anyway for time being if at all, recently got back my online access to Principality and it seems both of my 6 month issue 2 accounts end next month, maxed out at £1200 each.

Going forward I think I'm going to open a 7% First Direct, fund a 7% CO OP, get an issue 3 Principality.

Also open a new Club Lloyds & maybe a new TSB.

Then possibly open a new Saffron members month if that ends up being a thing.

I wonder if HSBC will do a 7% account again?.

Depending on the maturity date of your Princi reg savers you should be able to make an additional payment for each on 1st June. it was certainly possible for me and OH on the reg saver issue 1. We both have issue 2 maturing in June so will attempt to make a 7th payment on the 1st. Worst that can happen is a return of funds. 

Kim_13

janusdesign said:

Speculator said:

jim1999 said:

Speculator said:

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.

It is quite a badly written email, but it also says "Select Maturity Manager option on the account.  This will be available up to 14 days before the maturity date."

I'm assuming you are currently more than 14 days from the maturity date?

Thanks, yes, mine matures 1st June so I will try again on Monday.

for me, the maturity options are now available on the account details link...

i'll likely choose to have the full balance returned to my nominated account - but out of interest, have Saffron announced any rate changes to the Small Saver yet?

Also working for me in the app.

I’ve set it to transfer the full amount into my E-Saver Issue 22 (they missed out Issue 21 and then used that as the name of the newly launched reduced rate issue.) I have my nominated account set up on that account, but there was no option of nominated account or a new Members’ Month account via the maturity manager. As the account matures on Sunday, it’s probably the best way to maximise interest anyway.

From previous experience, doing nothing and letting it default puts it into a Maturity AI account which you will have to call or secure message to get funds out of.

surreysaver

jameseonline said:

I'm not sure what to do with my Coventry Sunny Day now as my current rule is ditch anything lower than 6%, does this account have any penalties for closing early?.

Bring your 6% rule down, as interest rates are decreasing 

jim1999

jameseonline said:

I'm not sure what to do with my Coventry Sunny Day now as my current rule is ditch anything lower than 6%, does this account have any penalties for closing early?.

Personally I've dropped it to what appeared to be the minimum to still qualify for the prize draw, which was £10.

Entirely possible that I'm mistaken or misread something, but though I'm closing other accounts I decided on balance to keep this one going a bit longer.

janusdesign

Kim_13 said:

janusdesign said:

Speculator said:

jim1999 said:

Speculator said:

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.

It is quite a badly written email, but it also says "Select Maturity Manager option on the account.  This will be available up to 14 days before the maturity date."

I'm assuming you are currently more than 14 days from the maturity date?

Thanks, yes, mine matures 1st June so I will try again on Monday.

for me, the maturity options are now available on the account details link...

i'll likely choose to have the full balance returned to my nominated account - but out of interest, have Saffron announced any rate changes to the Small Saver yet?

Also working for me in the app.

I’ve set it to transfer the full amount into my E-Saver Issue 22 (they missed out Issue 21 and then used that as the name of the newly launched reduced rate issue.) I have my nominated account set up on that account, but there was no option of nominated account or a new Members’ Month account via the maturity manager. As the account matures on Sunday, it’s probably the best way to maximise interest anyway.

From previous experience, doing nothing and letting it default puts it into a Maturity AI account which you will have to call or secure message to get funds out of.

that last bit is good to know - i'll avoid doing that option! 
for me, that second option "transfer funds to my selected account" is the option for paying back to the nominated account (on both the site and the app).

HHUK

jim1999 said:
Personally I've dropped it to what appeared to be the minimum to still qualify for the prize draw, which was £10.

Entirely possible that I'm mistaken or misread something, but though I'm closing other accounts I decided on balance to keep this one going a bit longer.

Looks spot on to me. Section 9.3 (b) of the specific terms for the Coventry Sunny Day Saver account reads:

To enter the Prize Draw, you need to pay into your Sunny Day Saver account at least £10 within the calendar month preceding the date of the relevant Prize Draw (the Qualifying Entry or Qualified Entries). For example, to qualify for the Prize Draw on 17 October 2024, you need to pay in at least £10 into your Sunny Day Saver between 1 September and 30 September 2024. Therefore, if you pay in £10 on 1 October 2024, you will not be eligible for the Prize Draw on 17 October 2024 but you may be eligible for the November 2024 Prize Draw.