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The Top Regular Savers Discussion Thread
Comments
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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.
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.
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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% SuffolkI normally start with the higher interest regular savers first working my way down
I have market harborough building society RS but l think you can only apply via branch now?2 -
flaneurs_lobster said: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.0 -
clairec666 said: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.0
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flaneurs_lobster said: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.3 -
allegro120 said:flaneurs_lobster said: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.0 -
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?0
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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)
Overpayment ready to add to funds when fixed deal runs out July 2027 £24595
Mortgage end date when taken out : July 2050
Mortgage current end date : January 2047
MFW #83 Overpayments for 2025
Jan £304 Feb £346 Mar £298 April £344 May £214 June £200 July £200 Aug £227 Sept £400
Daily interest £3.35
Percentage owned 48.9%0 -
allegro120 said:flaneurs_lobster said: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.0 -
NotWhereIWantToBe said: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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