The Top Regular Savers Discussion Thread

happybagger

simonsmithsays said:

happybagger said:

simonsmithsays said:

CricketLady said:

The Yorkshire Building Society 5% Christmas account is now live, I know this isn't everyone's cup of tea but for those that would like it, it is £150 per month until 31st October xx

Wind forward a month and it the base rate is cut and this (variable) product stays the same rate then it might receive a very different reaction on here.

I've opened it in any case

Maybe. Maybe not. It is variable too, of course.
Not much going for base rate cuts at the moment

Seems to be odds on?

It's off topic so I'll only make one post on this thread, inflation consistently above target, government policies which are inflationary, an administration that seems clueless at best (indeed asking around for ideas), and our currency on a relentless downward slide, put it in the 'odds against' category. The odds-on camp, outside media and political self interest, seem to be a bit thin on the ground.

But what do I know, I'm only a lay person.

surreysaver

Market Harborough 31/3/26 Regular Saver

For those who have opened this, what is it showing online?  I opened it today and it's showing 1 Year Regular Saver Issue 2.  

EDIT:  Ignore me.  You click on 'Account Details' and it states the maturity date!

soulsaver

FTAOD:
The Melton RS5 is still available Passbook ac - so postal/branch application, but online visibility. 
Operate by secure message, call, letter.

5.0% up to £6k then 2.5% £500 pm max; 2 year duration - so if you maxed 1st year, don't make any more deposits & get all 1st year accumulated funds at prevailing top rate. 

Can have as well as other issues, inc. Iss 6.

masonic

Kim_13 said:

simonsmithsays said:

happybagger said:

simonsmithsays said:

CricketLady said:

The Yorkshire Building Society 5% Christmas account is now live, I know this isn't everyone's cup of tea but for those that would like it, it is £150 per month until 31st October xx

Wind forward a month and it the base rate is cut and this (variable) product stays the same rate then it might receive a very different reaction on here.

I've opened it in any case

Maybe. Maybe not. It is variable too, of course.
Not much going for base rate cuts at the moment

Seems to be odds on?

They may cut it, but I don’t think it will be justifiable. When the rate falls, it’s usually by 0.25% which is 2.5x times the fall in inflation - and that in itself doesn’t tell the full story given that it is only discretionary items that are rising less quickly. For the least well off especially, inflation is actually rising. I personally think they should hold again and see if inflation takes off again in the next figures. Cutting it risks adding fuel to the fire, and the effect probably wouldn’t really be felt until April or later when other measures may negatively impact the economy. Until the time comes, we won’t actually know whether the markets and others are worrying unnecessarily.

At the moment the base rate is over 2% above the rate of inflation. Historically that is incredibly rare.

schiff

schiff said:

I'm in two minds about the Yorkshire account as I've had too many issues with them in the last year. Even though I've been a member for over 3 years, had multiple active accounts over all that time, they insist on putting me through verification hoops every time I apply for a new account - logged while doing so. They insist that they have to do it - regulations require it. I've been in the same house for years and all my information I provide is accurate. The last time I applied for a new account I satisfied all the Mitek tests but YBS required me to do it again! I don't remember how that ended but I abandoned my application for that particular account. Obviously I've moaned to CS about it and eventually sent a letter to the CEO. Pretty much the same outcome. I have no trouble at all opening accounts with other providers.
So this time I decided to see how it went - Mitek took me an hour but all the green ticks are in place. YBS have given it an account number but they need to do more checks.
Rant over - temporarily!

Update
This time I've passed the inquisition, I can deposit, the account is open. What I find odd is that I'm logged in when applying (never ever been picked up for wrong info when logging in) and much of the application form is pre-populated by YBS from information that I have provided. Any road, rant over!

ForumUser7

Highlighted by @uscool in another thread

Gatehouse RS is NLA (through standard means) and is under review.

Bridlington1

ForumUser7 said:

Highlighted by @uscool in another thread

Gatehouse RS is NLA (through standard means) and is under review.

It's been NLA and under review for a while IIRC.

Born2Save_3

Progressive BS Online Regular Rainy Day Saver (Issue 3)

I applied a few days ago, but no go.  I received message :

"Error
Unfortunately you have the maximum amount of accounts of this Product Family type open."

I'm more relieved than disappointed as the staff at Progressive really went out of their way to help me join them and to set up my first regular saver with them.

Furness BS Christmas Regular Saver Issue 2

I did not have online access but had received a letter with a username and instructions on how to set up and access their new online portal.  Just put in the given username and did a forgotten password request.  Once in, I could see my other accounts and applied for the Christmas Regular Saver Issue 2.  Took a couple of minutes. Received confirmatory email with how to fund instructions.  Did a £1 transfer to this account to set up payee.  Failed on CoP test but went ahead anyway.  Payment details were the same as others apart from the reference.

Furness take an extra day or so to credit accounts.  I wonder what date Furness use for interest accrual?  My issue 1 Xmas regular saver is showing something like £177 interest so far, with £500 monthly transfers on the first day of the month in all but one month which was a day late, I think.  It has about another month to run yet.

Dizzycap

With regards to YBS, this is for anyone who may be in the same(ish) position.

I opened a Christmas RS on 17/01/24 which as you know matured on 1st November 2024 (10 months). This was the only account I had with YBS at the time.

I opened a easy saver in August and put £1 in - kicking myself because I hadn't opened it at the same time as the Christmas RS to get Loyalty Member status for the YBS Loyalty RS.

I just happened to pop into the YBS App 17/01/25, clicked on Regular Savers and lo and behold, the Loyalty Regular Saver @ 5.45% variable was available to me. Application made, opened  & funded by open bank link all within 5 minutes. Therefore, YBS are working on funding history over a year not having a single account opened for a year.

Whilst I personally don't like RS under 5.5%, and certainly those which are not fixed rates, I decided to open it and fund for now as imho, it's better than the insult of the 5% variable Christmas RS that's on offer.

I may indeed kick myself for that statement at a later date! 

As a side note for anyone who maybe waiting on Skipton for a Member Regular Saver and made plans to be ready for the next issue by opening an easy saver with £1 before 11/01/25, Skipton are having a long maintenance weekend beginning Saturday 18th @ 10pm until Monday 20th. There maybe a possibility that they are about to launch a new issue of the Member RS (Issue 4). We shall have to wait and see

simonsmithsays

happybagger said:

simonsmithsays said:

happybagger said:

simonsmithsays said:

CricketLady said:

The Yorkshire Building Society 5% Christmas account is now live, I know this isn't everyone's cup of tea but for those that would like it, it is £150 per month until 31st October xx

Wind forward a month and it the base rate is cut and this (variable) product stays the same rate then it might receive a very different reaction on here.

I've opened it in any case

Maybe. Maybe not. It is variable too, of course.
Not much going for base rate cuts at the moment

Seems to be odds on?

It's off topic so I'll only make one post on this thread, inflation consistently above target, government policies which are inflationary, an administration that seems clueless at best (indeed asking around for ideas), and our currency on a relentless downward slide, put it in the 'odds against' category. The odds-on camp, outside media and political self interest, seem to be a bit thin on the ground.

But what do I know, I'm only a lay person.

Am not sure it's particularly off topic when people are musing over whether to commit to a RS at a particular rate when a BoE decision is looming.

Especially now this new RS thread has a no chat equivalent.

What I can say is I'm even more confident they'll be a cut next month now.