The Top Regular Savers Discussion Thread

schiff

Monmouth are a bit tough with rate reductions following BoE decisions about base rate. On three occasions when base rate was reduced by 0.25%, they reduced their RS interest rate by 0.35%, 0.45% and 0.30%. That's the one that started at 6.00% and is due to mature (in my case) next month.
If BR is reduced on 7/8/25 they would need a brass neck to do likewise having only recently offered it.

Kim_13

Upcoming Monmouthshire Issue 8

It shouldn’t be a problem to get this into September: the 30 days for funding starts from the date on the letter they send after they receive your signature form back.

Maybe they will finally modernise once the changes slowing the post down further come into effect. 

A variable rate isn’t a surprise when withdrawals/early closure are permitted. Interestingly this account is superior to the Exclusive Issue 2: paying the same rate that it did at launch, but allows withdrawals and can be opened with less.

I find them a bit of a mixed bag. Their 2023 offerings held their rates pretty much to the end (Aug-Oct 2024.) Their Christmas Regular Saver from 2022 was good also, being fixed rate. I will probably hold my Exclusive Issue 2 to maturity now (only has the £50 opening balance in) in case a replacement appears that is only open to holders of that account.

Kim_13

Archerychick said:

Monthmouthshire

how are you guys opening this regular saver? I can only see a 3.4% on their website 

The 3.4% is listed as Issue 7 while the 6% is Issue 8 and marked on Moneyfacts as effective from 25/7. So the 3.4% should be withdrawn and replaced by the new 6% issue tomorrow.

gt94sss2

jameseonline said:

clairec666 said:

Bridlington1 said:

clairec666 said:

jameseonline said:

Kim_13 said:

Looking at Moneyfacts, Monmouthshire appear to be launching a Regular Saver Issue 8 tomorrow paying 6%, £500 per month and unlimited withdrawals.

I cannot see an equivalent Exclusive account.

Interesting, not sure if I've got the funds to start one though🤣

Maybe in September if it's still going🤔

Same here, I'm struggling to fund all of my regular savers at the moment, and none are maturing until mid-September. Hopefully this one will be on offer for a while.

There's a chance it'll go quite quickly I should imagine. Monmouthshire BS is the one that launched a 7% RS that was open to all in 2023 but then pulled it within 24 hours.

Thanks for the tip. Definitely worth grabbing this one while it's open, £500 a month makes it appealing.

I've not had an account with Monmouthshire before - what are people's experiences with them? I saw on another thread about deposits being slow.

Monmouthshire don't seem to actually close you off on their systems either, so despite me telling them & being assured they closed my regular saver etc everything still seems to be there, zero balance etc

The online banking software that Monmouthshire use is the same as several other building societies. It is one where you have to manually "add" a new account too and/or choose to "hide" a closed account. 

I actually find this quite useful as it means I can set it to show my open accounts but access details of those I've already closed if I need to.

Apart from the fact that they take some time to reflect transactions online and slow opening times occasionally when they have been overwhelmed I have been quite happy with MBS.

They are certainly not the worst technically in my experience.

ForumUser7

Don't apply for Monmouthshire until 9am tomorrow, they confirmed it's showing due to a glitch currently, and that applications will be just be stuck on the processing screen if you apply before then. If you tried already, try again after 9am tomorrow.

35har1old

schiff said:

Monmouth are a bit tough with rate reductions following BoE decisions about base rate. On three occasions when base rate was reduced by 0.25%, they reduced their RS interest rate by 0.35%, 0.45% and 0.30%. That's the one that started at 6.00% and is due to mature (in my case) next month.
If BR is reduced on 7/8/25 they would need a brass neck to do likewise having only recently offered it.

Is that issue 2 maturing in August?
Just printed out the latest closed account list dated 14-05-25
Rate shown as 5.2%
When did the last reduction kick in and did you get any notification?

gt94sss2

35har1old said:

schiff said:

Monmouth are a bit tough with rate reductions following BoE decisions about base rate. On three occasions when base rate was reduced by 0.25%, they reduced their RS interest rate by 0.35%, 0.45% and 0.30%. That's the one that started at 6.00% and is due to mature (in my case) next month.
If BR is reduced on 7/8/25 they would need a brass neck to do likewise having only recently offered it.

Is that issue 2 maturing in August?
Just printed out the latest closed account list dated 14-05-25
Rate shown as 5.2%
When did the last reduction kick in and did you get any notification?

The interest rate on the Monmouthshire BS Exclusive Regular Saver Issue 2 account reduced from 5.20% to 4.90% on 16/06/2025

I was notified by email on 2 Jun 2025.

PowerSavingMode

35har1old said:

schiff said:

Monmouth are a bit tough with rate reductions following BoE decisions about base rate. On three occasions when base rate was reduced by 0.25%, they reduced their RS interest rate by 0.35%, 0.45% and 0.30%. That's the one that started at 6.00% and is due to mature (in my case) next month.
If BR is reduced on 7/8/25 they would need a brass neck to do likewise having only recently offered it.

Is that issue 2 maturing in August?
Just printed out the latest closed account list dated 14-05-25
Rate shown as 5.2%
When did the last reduction kick in and did you get any notification?

I believe so. The notes on my spreadsheet for my Monmouthshire BS Exclusive Regular Saver Issue 2 show that the rate was reduced to 4.9% (from 5.20%) on 16 June 2025.

friolento

My Monmouth BS Issue 8 is open and shows in the app. 

I had started the application in the app around 11pm last night but it didn’t complete and I just left it. This morning it had completed, without further intervention by myself. 

First £500 on their way now.

It seemed simple enough, very significantly faster than previous applications (ignoring that I was overly keen and tried to open the account earlier than it became officially available)

Bridlington1

Nowhere near as exiting as other accounts discussed recently but:

Coventry BS Loyalty Mortgage Saver (2) 4.8%, available to those who hold an eligible mortgage account with Coventry Building Society, Godiva Mortgages Limited or ITL Mortgages Limited.