The Top Regular Savers Discussion Thread

easysaver

Aidanmc said:

Can the Coventry BS Loyalty RS be closed now without penalty or do i have to wait until interest rate reduction takes effect?

If you try and close the account (online, I don't think you can close an account on the app) it'll give you the closing amount including accrued interest. e.g. for my Loyalty Seasonal Saver I get just over £41 in interest which roughly agrees with having paid in £250 a month for 8 months. This would imply there is no 30 day interest penalty applied. I think the Loyalty RS and Loyalty Seasonal Saver have this same 30 day interest penalty.

clairec666

Bridlington1 said:

clairec666 said:

jameseonline said:

Also am I right in thinking this started at 6.25% then went down to 6% & is currently 5.75%?

I've got it at 6.25% on my spreadsheet for last year. Can't remember when it dropped to 6%.

3rd March for 6.25% to 6% and 2nd June for 6% to 5.75%.

Links to lists of previous interest rate reductions appear on the first page of the Archived thread:
https://forums.moneysavingexpert.com/discussion/comment/80268179/#Comment_80268179

Ah, you are more thorough with your record-keeping than me. I must have taken my eye off the ball in March... too busy playing around with my ISAs before the tax year end

CricketLady

Aidanmc said:

Can the Coventry BS Loyalty RS be closed now without penalty or do i have to wait until interest rate reduction takes effect?

Hi, I asked via secure messaging about the Coventry BS Loyalty Regular Saver and got this message today:

"I have checked the details on the accounts which are being affected by the rate change and can confirm that all information will also be sent to you by 20 August.

The Loyalty Regular Saver (3) new rate will be 4.9%, you will be able to complete a full closure of the account without any penalties from 2 September until 2 October, partial withdrawals however will still have same terms and conditions (a penalty of equal to 30 calendar days interest on the amount withdrawn).

If you need anything else, just reply to this message - we'll try and get back to you within two days.

You can call us on 0800 121 8899. Our advisors are here Monday to Friday 8am-7pm, Saturday 9am-2pm and closed Sunday. We may monitor and record telephone calls for training purposes and to maintain a quality service."

Hope this helps xx

ForumUser7

CricketLady said:

Aidanmc said:

Can the Coventry BS Loyalty RS be closed now without penalty or do i have to wait until interest rate reduction takes effect?

Hi, I asked via secure messaging about the Coventry BS Loyalty Regular Saver and got this message today:

"I have checked the details on the accounts which are being affected by the rate change and can confirm that all information will also be sent to you by 20 August.

The Loyalty Regular Saver (3) new rate will be 4.9%, you will be able to complete a full closure of the account without any penalties from 2 September until 2 October, partial withdrawals however will still have same terms and conditions (a penalty of equal to 30 calendar days interest on the amount withdrawn).

If you need anything else, just reply to this message - we'll try and get back to you within two days.

You can call us on 0800 121 8899. Our advisors are here Monday to Friday 8am-7pm, Saturday 9am-2pm and closed Sunday. We may monitor and record telephone calls for training purposes and to maintain a quality service."

Hope this helps xx

lol I didn’t see the end quote marks and thought Coventry sent you kisses 😂

CricketLady

I love that!  Although if I worked at Coventry Building Society I probably would put kisses - I put kisses on everything! 

londoner62

Hi all; Can anyone direct me to any building societies offering 24 month regualar savers not including Skipton, Hinkley & Rugby, Yorkshire, Penrith and Leeds? 

Thanks for any help...

Kim_13

londoner62 said:

Hi all; Can anyone direct me to any building societies offering 24 month regualar savers not including Skipton, Hinkley & Rugby, Yorkshire, Penrith and Leeds? 

Thanks for any help...

Melton. Currently only an open ended version is available, but they periodically release other issues with maturities of 2 years+.

londoner62

Kim_13 said:

londoner62 said:

Hi all; Can anyone direct me to any building societies offering 24 month regualar savers not including Skipton, Hinkley & Rugby, Yorkshire, Penrith and Leeds? 

Thanks for any help...

Melton. Currently only an open ended version is available, but they periodically release other issues with maturities of 2 years+.

Thanks for that: I do have the Regular Saver Issue 5 but as I'm coming up on retirement in a couple of years, I am focussed on having a regular saver maturing each month in tax year 27/28. I'm not overly concerned with the interest rate but it is as always a consideration! 

gt94sss2

londoner62 said:

Hi all; Can anyone direct me to any building societies offering 24 month regualar savers not including Skipton, Hinkley & Rugby, Yorkshire, Penrith and Leeds? 

Thanks for any help...

Chorley

Principality and SRBS have longer term regular savers but you can withdraw/close them without penalty as do NatWest/RBS 

WillPS

londoner62 said:

Kim_13 said:

londoner62 said:

Hi all; Can anyone direct me to any building societies offering 24 month regualar savers not including Skipton, Hinkley & Rugby, Yorkshire, Penrith and Leeds? 

Thanks for any help...

Melton. Currently only an open ended version is available, but they periodically release other issues with maturities of 2 years+.

Thanks for that: I do have the Regular Saver Issue 5 but as I'm coming up on retirement in a couple of years, I am focussed on having a regular saver maturing each month in tax year 27/28. I'm not overly concerned with the interest rate but it is as always a consideration! 

Keep an eye on Loughborough BS - they did a retirement saver for over 55s quite recently - in fact might have been Savings Week last year (which comes around again in a month's time).