The Top Regular Savers Discussion Thread

simonsmithsays

Bob2000 said:

I know that all you RS veterans on here are not impressed  by YBS festive offering.
But if you were just an ordinary  saver, who wasn't  interested or able to fund multiple RS, is this offer that bad for the likes of me?
I'll be funding it from wages.

It's a no brainer for me.

It's above my non rs easy access float and supports a withdrawal and then closure should I need access to it.

Bridlington1

dcs34 said:

As a slight aside, I spent a few minutes working out the monthly income it would take to fully fund the different levels of regular savers currently on the market, depending on where one sets one's personal cut-off (mine is currently trying to open and fund anything paying above 5.5%).



Of course in practise this is easier said than done, especially as one needs to simultaneously be resident in Stockport, Northern Ireland, and Mansfield (to start with) to open all the possible accounts. Still it shows there are plenty of options better than 5% at the moment!

A splendid table, though if I may, you seem to have also included some NLA accounts in your figures (Virgin at 10.38%, Saffron at 8%, YBS £50 RS at 8% etc). My figures from only those that are currently available paying 5.05%+ (excluding Children's regular savers) came to:

>= Rate	Total
8.00%	£200.00
7.50%	£500.00
7.00%	£1,475.00
6.50%	£1,925.00
6.00%	£4,925.00
5.50%	£6,475.00
5.05%	£9,375.00

For full results (apologies for the abbreviations):

Account	Rate	Max	Running total
PBS 6Mth RS Issue 2	8.00%	£200.00	£200.00
Zopa	7.50%	£300.00	£500.00
Bath 16-25RS	7.09%	£50.00	£550.00
PBS Xmas 2025 RS	7.00%	£125.00	£675.00
FD RS	7.00%	£300.00	£975.00
Co-op	7.00%	£250.00	£1,225.00
SKMRS3	7.00%	£250.00	£1,475.00
NWD	6.50%	£200.00	£1,675.00
Vernon	6.50%	£250.00	£1,925.00
CL RS	6.25%	£400.00	£2,325.00
NWS DRS	6.17%	£150.00	£2,475.00
RBS DRS	6.17%	£150.00	£2,625.00
Melton RS6	6.00%	£200.00	£2,825.00
West Brom FRRSI7	6.00%	£250.00	£3,075.00
MHBS	6.00%	£250.00	£3,325.00
TSB	6.00%	£250.00	£3,575.00
Progressive	6.00%	£300.00	£3,875.00
AIB	6.00%	£500.00	£4,375.00
Cambridge ERRS2	6.00%	£300.00	£4,675.00
Cov LSS	6.00%	£250.00	£4,925.00
MFLD BRS8	5.85%	£250.00	£5,175.00
PBS 1YTARS	5.60%	£50.00	£5,225.00
Loughborough 5YRMS	5.50%	£550.00	£5,775.00
BOS	5.50%	£250.00	£6,025.00
HFX	5.50%	£250.00	£6,275.00
NCL	5.50%	£200.00	£6,475.00
YBS LRS	5.45%	£250.00	£6,725.00
Lloyds MS	5.25%	£250.00	£6,975.00
Chorley	5.15%	£400.00	£7,375.00
PBS RS35	5.15%	£250.00	£7,625.00
Dar	5.10%	£250.00	£7,875.00
KRBS	5.10%	£500.00	£8,375.00
Leeds HDS2	5.05%	£500.00	£8,875.00
Loughborough 1YFRMS2	5.05%	£500.00	£9,375.00

Also you don't necessarily need to be resident in NI or Mansfield. For AIB you can open the regular saver account online if you're an existing customer and those living in England, Scotland or Wales can become a customer if they can get to an AIB branch (admittedly in NI but someone from, say Bridlington, could get to a NI branch if they decided to go to NI for a holiday).

For Mansfield you can grab the Bonus RS if you've been an existing customer for 12+ months. if you're an existing Mansfield BS customer (thanks to @ordnancesurvey84 for pointing out change to Ts&Cs)

The main contradiction though would be that if you wish to stay within the Ts&Cs you can't hold both the Loughborough 5Y Retirement RS and the Bath 16-25 RS simultaneously.

friolento

dcs34 said:

As a slight aside, I spent a few minutes working out the monthly income it would take to fully fund the different levels of regular savers currently on the market, depending on where one sets one's personal cut-off (mine is currently trying to open and fund anything paying above 5.5%).



Of course in practise this is easier said than done, especially as one needs to simultaneously be resident in Stockport, Northern Ireland, and Mansfield (to start with) to open all the possible accounts. Still it shows there are plenty of options better than 5% at the moment!

There will be people on this forum who have exhausted anything above 5% a while ago already, and for whom 5%ers are not to be sniffed at when the EA rates are dropping, and when their remaining 5% EA accounts are already full.

Stolas

Bob2000 said:

I know that all you RS veterans on here are not impressed  by YBS festive offering.
But if you were just an ordinary  saver, who wasn't  interested or able to fund multiple RS, is this offer that bad for the likes of me?
I'll be funding it from wages.

I don’t think it’s bad - certainly a lot better than doing nothing. However, there are better rates elsewhere paying up to 7% or 8%. 

Though I understand if you don’t want the extra complexity of dealing with more than one bank. 

[Deleted User]

Bob2000 said:

I know that all you RS veterans on here are not impressed  by YBS festive offering.
But if you were just an ordinary  saver, who wasn't  interested or able to fund multiple RS, is this offer that bad for the likes of me?
I'll be funding it from wages.

I don't want to go down the route of 'not worth it' as its all about individual circumstances.

There's no reason why not unless you have an easy access account which pays near enough the same, I've got quite a few which allow 3/4/5 withdrawals per year and pay around 4.75%, so I'm giving it a miss.

Also don't forget your ISA allowance.

But if it suits you go for it.

apt

A couple of years ago YBS loyalty regular savers were market-leading. Recently their regular savers have had low limits on what you can pay in or mediocre interest rates.

ordnancesurvey84

Bridlington1 said:

For Mansfield you can grab the Bonus RS if you've been an existing customer for 12+ months.

Of note, there's actually no requirement of 12+ months' membership for a Mansfield Bonus Regular Saver. The stipulation is simply to be an existing member (if not local). I opened their uncompetitive Regular eSaver 30 with £10 to become an existing member and then opened the Bonus RS shortly thereafter.

Bridlington1

ordnancesurvey84 said:

Bridlington1 said:

For Mansfield you can grab the Bonus RS if you've been an existing customer for 12+ months.

Of note, there's actually no requirement of 12+ months' membership for a Mansfield Bonus Regular Saver. The stipulation is simply to be an existing member (if not local). I opened their uncompetitive Regular eSaver 30 with £10 to become an existing member and then opened the Bonus RS shortly thereafter.

Well spotted, it definitely used to be available to locals and/or existing members of 12+ months membership but it seems they've changed the eligibility criteria since I last checked. Thanks for pointing this out.

I'll edit the first page accordingly with the listing moved to the regular savers open to all section.

Kim_13

Bob2000 said:

I know that all you RS veterans on here are not impressed  by YBS festive offering.
But if you were just an ordinary  saver, who wasn't  interested or able to fund multiple RS, is this offer that bad for the likes of me?
I'll be funding it from wages.

For most of my life I’ve considered 5% a great return, but EAs have been falling faster than RSs and this one feels like it’s at a half way house rate rather than a YBS RS one (they offering 5% on a larger sum to members of 1 year+ when the base rate was on the floor.) For a half way house rate I’d expect a handful of withdrawals rather than just one, but it will be useful to those people already mentioned. 

I expect the majority of applications beyond that will be from existing YBS customers who don’t want the hassle of opening accounts with a new provider… but YBS have asked existing customers for ID / needed to carry out further checks of late, so it isn’t as easy to get new accounts open as it has been in the past. YBS to my knowledge have more branches than most of the better payers, so for those to whom branch access to their savings is important, they have to be paid for somehow.

happybagger

Bob2000 said:

I know that all you RS veterans on here are not impressed  by YBS festive offering.
But if you were just an ordinary  saver, who wasn't  interested or able to fund multiple RS, is this offer that bad for the likes of me?
I'll be funding it from wages.

If I was an "ordinary saver" who wasn't able to fund multiple RS then I would be picking one with a better rate, better depositing options, and better terms all round.

From what I see of most posts, the only people so far who are remotely interested are those that have exhausted better options. If it works for you, all good.