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The Top Regular Savers Discussion Thread

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Comments

  • allegro120
    allegro120 Posts: 2,132 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Bob2000 said:
    Good afternoon.
    Just some thoughts and advice from you, MSE experts.
     
    I opened a suffolk building society  regular saver this week, the 5% fixed still to fund but got 14 days l think.

    Anyway, while this was opened, the Monthshire regular  saver  became  available, so l applied  for that too. I already  have an EA account with MBS (£1.33).

    Haven't got funds to fully fund both but was thinking of putting  £500 into the MBS regular saver for the first two months, then either leave it at that or fund bare minimum.

    The suffolk RS will be a replacement  for the virgin 10% one when that matures on 31st. I already have 3 regular  saver  paying better, but all funded for the next few months.
    I have an earlier version (30.06.2026) of Suffolk, but I assume t&c are the same. Fixed is a good feature, but you can't withdraw/close.   I'd stick £10 (minimum for getting 5%) in it to keep it running, this account might become competitive in future.
    MonBS 6% is an obvious priority. Higher interest and you can withdraw/close if they reduce the rate or you simply need this money for something else.

    Anything can happen, but based on previous performances it is unlikely that MonBS RS will drop below 5% in near future.

     
  • Bob2000
    Bob2000 Posts: 408 Forumite
    100 Posts Name Dropper Photogenic
    Aidanmc said:
    Bob2000 said:
    Good afternoon.
    Just some thoughts and advice from you, MSE experts.
     
    I opened a suffolk building society  regular saver this week, the 5% fixed still to fund but got 14 days l think.

    Anyway, while this was opened, the Monthshire regular  saver  became  available, so l applied  for that too. I already  have an EA account with MBS (£1.33).

    Haven't got funds to fully fund both but was thinking of putting  £500 into the MBS regular saver for the first two months, then either leave it at that or fund bare minimum.

    The suffolk RS will be a replacement  for the virgin 10% one when that matures on 31st. I already have 3 regular  saver  paying better, but all funded for the next few months.




    Have you got all the higher paying regular savers listed on page 1 of this thread?
    Theres a good few higher than the 5% Suffolk 
    I normally start with the higher interest regular savers first working my way down
    Not all the big guns listed but l am going to reapply for  first direct, co-op and Nationwide when they mature.

    I have market harborough building society  RS but l think you can only apply  via branch now?
  • Bob2000
    Bob2000 Posts: 408 Forumite
    100 Posts Name Dropper Photogenic
    Well the general advice is that you should always choose the account with the highest rate so that's the MonBS @ 6%. Also it will accept up to £500/mth rather than £250, and allows withdrawals during the term.

    But the Suffolk BS's rate is fixed for a year. 

    I'd keep both open, fund the MonBS to the maximum I could afford and minimum fund the Suffolk at £10/mth.

    It's a hedge in case rates at the MonBS drop to less than 5% during the term. 
    Yes decided to do what you suggested  going forward. The fixed rate seduced  me a bit. :)
  • Bob2000
    Bob2000 Posts: 408 Forumite
    100 Posts Name Dropper Photogenic
    edited 27 July at 5:37PM
    Barring any massive rate cuts, Monmouthshire is likely to stay above 5% for most of the year, and even if it drops below, it will probably average at least 5%. So I'd think it would be better to fund this than and put the minimum amount into Suffolk if you want to keep it open.
    Yes going to do exactly that now.
  • allegro120
    allegro120 Posts: 2,132 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Well the general advice is that you should always choose the account with the highest rate so that's the MonBS @ 6%. Also it will accept up to £500/mth rather than £250, and allows withdrawals during the term.

    But the Suffolk BS's rate is fixed for a year. 

    I'd keep both open, fund the MonBS to the maximum I could afford and minimum fund the Suffolk at £10/mth.

    It's a hedge in case rates at the MonBS drop to less than 5% during the term. 
    There's no minimum, except £10 to open.  It's in t&c - "If you miss a monthly deposit, your account will remain open until maturity, and you can continue to save monthly."  I've had Suffolk since March and only made 3 deposits, and definitely going to give it a miss in August. 
  • Bridlington1
    Bridlington1 Posts: 4,115 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Well the general advice is that you should always choose the account with the highest rate so that's the MonBS @ 6%. Also it will accept up to £500/mth rather than £250, and allows withdrawals during the term.

    But the Suffolk BS's rate is fixed for a year. 

    I'd keep both open, fund the MonBS to the maximum I could afford and minimum fund the Suffolk at £10/mth.

    It's a hedge in case rates at the MonBS drop to less than 5% during the term. 
    There's no minimum, except £10 to open.  It's in t&c - "If you miss a monthly deposit, your account will remain open until maturity, and you can continue to save monthly."  I've had Suffolk since March and only made 3 deposits, and definitely going to give it a miss in August. 
    I opened one about a year ago and have only make one deposit (£10 to open the account). Essentially I wanted an account for membership purposes and this fit the bill rather nicely.
  • surreysaver
    surreysaver Posts: 4,967 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Bear in mind too, that the Monmouthshire account is easy access, so you'll be able to take your money out if you need it for a better rate elsewhere. Whereas the Suffolk one you cannot withdraw from.
    I consider myself to be a male feminist. Is that allowed?
  • NotWhereIWantToBe
    NotWhereIWantToBe Posts: 112 Forumite
    Fifth Anniversary 100 Posts Photogenic Name Dropper
    Can anyone help point me in the direction of the “way back machine” I’ve seen mentioned on here please. 

    Specifically I’m looking for T&Cs of the Santander monthly saver I opened in November last year. My spreadsheet says £3000 MAX  but I’m sure this was a 12 months and done account. 

    I’m trying to wind down my regular savers as they end because I need to clear the 0% cards soon but I don’t want to cancel the standing order at 12 months if it goes on for 15. 

    Thanks for reading.  
    User name should now read NowWhereIWantToBe  

    Amount overpaid so far £8298 (2022)

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  • flaneurs_lobster
    flaneurs_lobster Posts: 7,382 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Well the general advice is that you should always choose the account with the highest rate so that's the MonBS @ 6%. Also it will accept up to £500/mth rather than £250, and allows withdrawals during the term.

    But the Suffolk BS's rate is fixed for a year. 

    I'd keep both open, fund the MonBS to the maximum I could afford and minimum fund the Suffolk at £10/mth.

    It's a hedge in case rates at the MonBS drop to less than 5% during the term. 
    There's no minimum, except £10 to open.  It's in t&c - "If you miss a monthly deposit, your account will remain open until maturity, and you can continue to save monthly."  I've had Suffolk since March and only made 3 deposits, and definitely going to give it a miss in August. 
    Ah, my mistake - I've read the minimum deposit amount as being a minimum required.
  • pokemaster
    pokemaster Posts: 275 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Can anyone help point me in the direction of the “way back machine” I’ve seen mentioned on here please. 

    Specifically I’m looking for T&Cs of the Santander monthly saver I opened in November last year. My spreadsheet says £3000 MAX  but I’m sure this was a 12 months and done account. 

    I’m trying to wind down my regular savers as they end because I need to clear the 0% cards soon but I don’t want to cancel the standing order at 12 months if it goes on for 15. 

    Thanks for reading.  

    https://forums.moneysavingexpert.com/discussion/6470420/the-archived-history-of-regular-savers-thread-no-chat/p1
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