The Top Regular Savers Discussion Thread

s71hj

E_zroda said:

mon3ysav3r said:

s71hj said:

I've had a letter confirming my Principality RS 3 rollover to RS 4 even though I already have an RS 4. I did my request online on Sunday. Will do my wife's this coming Sunday in the hope that may be the reason it worked although I have to say my suspicion is more it's random chance. 

My online request for Principality RS 3 rollover to RS 4 was denied because I already have an RS 4, my previous attempt to rollover RS 2 to a RS 3 was also denied because I already had RS 3.

 Principality RS rollovers

It is a Dark Art with many posts here dedicated to mastering it....

I was wearing a green shirt when I did it and intend to again this Sunday. 

Ch1ll1Phlakes

Bobblehat said:

Ch1ll1Phlakes said:

Aidanmc said:

Ch1ll1Phlakes said:

s71hj said:

Aidanmc said:

s71hj said:

Aidanmc said:

s71hj said:

Aidanmc said:

Kim_13 said:

surreysaver said:

Speculator said:

roked said:

I closed my Coventry seasonal RS today due to the rate dropping below my threshold and wanted to use the funds for other RS's anyway. Surprised to see that I seem to have only got a two-week penalty on interest instead of a full month. Not complaining

There should be no penalty for closing due to the rate drop.

If I understand Coventry's T&Cs correctly, it is within a certain amount of time of receiving notification of the rate drop - not of the rate actually dropping.
Can't remember when Coventry sent out its notifications, but I think it was quite a while ago 

They sent it on 18/8, but there has been confusion this time around due to the wording of that email suggesting it was 30 days from the effective date rather than the notification date. 

Coventry haven’t responded to my secure message sent before they opened yesterday, if they don’t answer soon I guess I will close the Loyalty Saver myself and then raise a complaint if a penalty is applied.

You can close it penalty free until 2nd October.
I closed mine last week also without penalty.

Is there a penalty for early closure of the Coventry Loyalty Seasonal saver? 

I kept the Seasonal saver for now.
But the same terms should apply as the rate was reduced also.
Penalty free until 2nd October

Is there a way to close it in the app? I can't see an obvious button to press? 

I dont use the app at all.
But you can close it in online banking

In online banking £2,292.83 is suggested closing balance ie £42.83 interest. Does this look like no penalty applied? I'm rubbish at those sort of sums! 

Without knowing the dates of your deposits it would be hard to confirm this is correct. A rough calculation using an interest rate of 5.25% (though I know it did start higher than this) provides the following
You haven't reached a full nine months of holding the account so expected interest is lower than £48.62 and higher than £38.84 (as you've had the account at least eight months) so yes from what I see that sounds about right for penalty free.

Note: I don't have this account so I don't know when the rate reductions were and please let me know if I've used incorrect figures.

A separate rough calculation with guessed rate reductions gives a range of around £41.50 to £51.25 so again seems fine.

The Seasonal RS was originally 6%,
dropping to 5.75% on 3 March, 
5.5% from 2 June
5.25% from 1 September

Using this and under the assumption the account was opened on the 1st January and paid into by standing order I have the following from my excel
The green is giving the expected accrued interest on September 1st, a little tweaking (which I'm not going to do sorry as I don't have the account and don't know your start date) and I'd get the £42.83 you see on September 2nd. The value in pink/red is corresponding to if the £2250 was held until the end of September. These tables always nicely highlight the regular saver interest growth over time.

Note: Some dates aren't the 1st as this is due to me adapting this table from a different account but taking into account that standing orders usually won't be processed on weekends and go through on the next working day.

Small tweak .... 1st Jan is a BH ... I used 2nd Jan as the start point (the rest of the dates as yours). I got £42.47 if closed on 2nd Sept and £42.79 if closed on 3rd Sept.

Fair point. As I said I tweaked this from a different account so slapped the 1st on their just to illustrate how my excel calculations work. And I know I said I wouldn't tweak anymore but curiosity got the better of me so here's an updated table with the £42.83 interest figure.


Still probably a little out though as closure value is from the 2nd but you get the idea. Also I know there's no payment for January but I've no idea when the deposits actually were so this is probably as good as I can get. PS I'll stop bothering people with these tables now 

s71hj

Ch1ll1Phlakes said:

Bobblehat said:

Ch1ll1Phlakes said:

Aidanmc said:

Ch1ll1Phlakes said:

s71hj said:

Aidanmc said:

s71hj said:

Aidanmc said:

s71hj said:

Aidanmc said:

Kim_13 said:

surreysaver said:

Speculator said:

roked said:

I closed my Coventry seasonal RS today due to the rate dropping below my threshold and wanted to use the funds for other RS's anyway. Surprised to see that I seem to have only got a two-week penalty on interest instead of a full month. Not complaining

There should be no penalty for closing due to the rate drop.

If I understand Coventry's T&Cs correctly, it is within a certain amount of time of receiving notification of the rate drop - not of the rate actually dropping.
Can't remember when Coventry sent out its notifications, but I think it was quite a while ago 

They sent it on 18/8, but there has been confusion this time around due to the wording of that email suggesting it was 30 days from the effective date rather than the notification date. 

Coventry haven’t responded to my secure message sent before they opened yesterday, if they don’t answer soon I guess I will close the Loyalty Saver myself and then raise a complaint if a penalty is applied.

You can close it penalty free until 2nd October.
I closed mine last week also without penalty.

Is there a penalty for early closure of the Coventry Loyalty Seasonal saver? 

I kept the Seasonal saver for now.
But the same terms should apply as the rate was reduced also.
Penalty free until 2nd October

Is there a way to close it in the app? I can't see an obvious button to press? 

I dont use the app at all.
But you can close it in online banking

In online banking £2,292.83 is suggested closing balance ie £42.83 interest. Does this look like no penalty applied? I'm rubbish at those sort of sums! 

Without knowing the dates of your deposits it would be hard to confirm this is correct. A rough calculation using an interest rate of 5.25% (though I know it did start higher than this) provides the following
You haven't reached a full nine months of holding the account so expected interest is lower than £48.62 and higher than £38.84 (as you've had the account at least eight months) so yes from what I see that sounds about right for penalty free.

Note: I don't have this account so I don't know when the rate reductions were and please let me know if I've used incorrect figures.

A separate rough calculation with guessed rate reductions gives a range of around £41.50 to £51.25 so again seems fine.

The Seasonal RS was originally 6%,
dropping to 5.75% on 3 March, 
5.5% from 2 June
5.25% from 1 September

Using this and under the assumption the account was opened on the 1st January and paid into by standing order I have the following from my excel
The green is giving the expected accrued interest on September 1st, a little tweaking (which I'm not going to do sorry as I don't have the account and don't know your start date) and I'd get the £42.83 you see on September 2nd. The value in pink/red is corresponding to if the £2250 was held until the end of September. These tables always nicely highlight the regular saver interest growth over time.

Note: Some dates aren't the 1st as this is due to me adapting this table from a different account but taking into account that standing orders usually won't be processed on weekends and go through on the next working day.

Small tweak .... 1st Jan is a BH ... I used 2nd Jan as the start point (the rest of the dates as yours). I got £42.47 if closed on 2nd Sept and £42.79 if closed on 3rd Sept.

Fair point. As I said I tweaked this from a different account so slapped the 1st on their just to illustrate how my excel calculations work. And I know I said I wouldn't tweak anymore but curiosity got the better of me so here's an updated table with the £42.83 interest figure.


Still probably a little out though as closure value is from the 2nd but you get the idea. Also I know there's no payment for January but I've no idea when the deposits actually were so this is probably as good as I can get. PS I'll stop bothering people with these tables now 

It is hugely appreciated that you do it. 

Bridlington1

Market Harborough BS have launched a Limited Edition Regular Saver (04.11.2026) – Branch Exclusive at 6% Fixed, £300/mth max. Branch opening only but can be managed online.

ToastLady

s71hj said:

I've had a letter confirming my Principality RS 3 rollover to RS 4 even though I already have an RS 4. I did my request online on Sunday. Will do my wife's this coming Sunday in the hope that may be the reason it worked although I have to say my suspicion is more it's random chance. 

Can anyone tell me when the option for maturity comes up please? Mine (RS3) matures on 28/9 and nothing showing so far as to what options available. 

PRAISETHESUN

ToastLady said:

s71hj said:

I've had a letter confirming my Principality RS 3 rollover to RS 4 even though I already have an RS 4. I did my request online on Sunday. Will do my wife's this coming Sunday in the hope that may be the reason it worked although I have to say my suspicion is more it's random chance. 

Can anyone tell me when the option for maturity comes up please? Mine (RS3) matures on 28/9 and nothing showing so far as to what options available. 

I believe it's 14 days ahead of renewal

rallycurve

mon3ysav3r said:

s71hj said:

I've had a letter confirming my Principality RS 3 rollover to RS 4 even though I already have an RS 4. I did my request online on Sunday. Will do my wife's this coming Sunday in the hope that may be the reason it worked although I have to say my suspicion is more it's random chance. 

My online request for Principality RS 3 rollover to RS 4 was denied because I already have an RS 4, my previous attempt to rollover RS 2 to a RS 3 was also denied because I already had RS 3.

What happens if it is denied? Do you get the chance to change your maturity instructions or you just get the whole amount transferred to your nominated account?

mon3ysav3r

rallycurve said:

mon3ysav3r said:

s71hj said:

I've had a letter confirming my Principality RS 3 rollover to RS 4 even though I already have an RS 4. I did my request online on Sunday. Will do my wife's this coming Sunday in the hope that may be the reason it worked although I have to say my suspicion is more it's random chance. 

My online request for Principality RS 3 rollover to RS 4 was denied because I already have an RS 4, my previous attempt to rollover RS 2 to a RS 3 was also denied because I already had RS 3.

What happens if it is denied? Do you get the chance to change your maturity instructions or you just get the whole amount transferred to your nominated account?

They asked me what I wanted to do instead via a PM, I said transfer to another Easy Access account I hold with them, they didn't offer a default option as such.

soulsaver

Bridlington1 said:

Market Harborough BS have launched a Limited Edition Regular Saver (04.11.2026) – Branch Exclusive at 6% Fixed, £300/mth max. Branch opening only but can be managed online.

• Customers may only have a maximum of two Limited Edition Regular Saver accounts open at a time, either solely or jointly, with a combined maximum deposit of £300 per month not exceeding the maximum balance of £4,500.00

IIRC the previous max was £250 pm?

Kim_13

soulsaver said:

Bridlington1 said:

Market Harborough BS have launched a Limited Edition Regular Saver (04.11.2026) – Branch Exclusive at 6% Fixed, £300/mth max. Branch opening only but can be managed online.

• Customers may only have a maximum of two Limited Edition Regular Saver accounts open at a time, either solely or jointly, with a combined maximum deposit of £300 per month not exceeding the maximum balance of £4,500.00

IIRC the previous max was £250 pm?

It was, yes. It’ll be interesting to see whether £250 + £300 is accepted without issue, as previous accounts weren’t described as Limited Edition.

Is it just me or do branch only accounts appear to be increasing, with actual branches going the other way 😕