The Top Regular Savers Discussion Thread

Bridlington1

s71hj said:

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

The regular saver market is determined to ensure that I end up feeling like the work I did to painstakingly fill my Natwest and RBS Regular savers via £1.01 debit card payments to myself for 5.5% was a waste of time. 

Although it's worth noting though that unlike NatWest/RBS, Beverley BS regular saver includes a conditional bonus rate of interest, which are rather stringent.

Any withdrawals (including closure) result in the bonus being lost for the full calendar year, as does any missed payments. Losing the bonus reduces the rate to a mere 1%.

The ideal time to make withdrawals if you need to would therefore be the beginning of the calendar year.

Also of note is that the General Ts&Cs state if a reduction to the interest rate is announced you will have 30 days in which you can close or switch the account without notice or penalty.

One other point I would mention is that I can imagine that if interest rates more generally begin to rise at any point in the future and the account fails to keep up with rates elsewhere then it might become something of a liability as you'd be left with an account slipping behind rates elsewhere with a harsh penalty for withdrawals.

clairec666

s71hj said:

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

The regular saver market is determined to ensure that I end up feeling like the work I did to painstakingly fill my Natwest and RBS Regular savers via £1.01 debit card payments to myself for 5.5% was a waste of time. 

I didn't do the round-ups thing, but getting my Natwest regular saver up to £5000 was a long-term project and I felt pretty satisfied when I got there. Feels like cheating that I can get to £5000 in 5 months at Monmouthshire.... and for 7%

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

For an account with such strict withdrawal conditions, I'd want it to be fixed rate. Compared to Skipton for example, which is variable (tracks the base rate) but also doesn't allow withdrawals, you would at least get the full amount of interest if you closed the account early. The restrictions on the Beverley account are more akin to First Direct (interest paid at their standard savings account variable rate if you close early), but at least First Direct offers you a fixed rate.

Bridlington1 said:

Also of note is that the General Ts&Cs state if a reduction to the interest rate is announced you will have 30 days in which you can close or switch the account without notice or penalty.

Thanks - I was looking for that information but didn't see it.

s71hj

clairec666 said:

s71hj said:

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

The regular saver market is determined to ensure that I end up feeling like the work I did to painstakingly fill my Natwest and RBS Regular savers via £1.01 debit card payments to myself for 5.5% was a waste of time. 

I didn't do the round-ups thing, but getting my Natwest regular saver up to £5000 was a long-term project and I felt pretty satisfied when I got there. Feels like cheating that I can get to £5000 in 5 months at Monmouthshire.... and for 7%

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

For an account with such strict withdrawal conditions, I'd want it to be fixed rate. Compared to Skipton for example, which is variable (tracks the base rate) but also doesn't allow withdrawals, you would at least get the full amount of interest if you closed the account early. The restrictions are more akin to First Direct (interest paid at their standard savings account variable rate if you close early), but at least First Direct offers you a fixed rate.

Bridlington1 said:

Also of note is that the General Ts&Cs state if a reduction to the interest rate is announced you will have 30 days in which you can close or switch the account without notice or penalty.

Thanks - I was looking for that information but didn't see it.

I tell myself that the RBS and Natwest ones are part of their sort of shop window display for their current accounts (metaphorically speaking) so they'll keep them competitive 

Kim_13

Ch1ll1Phlakes said:

Quick question. Any ideas when the Yorkshire 6% will be pulled. I missed out on last years iteration.

After a deep dive through the previous regular saver discussion thread I see that the 8% version was pulled on the 20th, the Friday after last year UK Savings Week. Are we thinking the account will be pulled Friday 26th this year or the 3rd?

I want one but don't have the funds until the end of the week to fill it. And I'm OCD about my account maturities and funding as soon as the account is opened so don't want to open earlier than Friday.

I wouldn't be surprised if it hung around longer than last year's version, simply because it is less desirable. There are plenty of accounts paying 6% plus, with deposit limits in excess of £50 per month and some of them fixed. There was nothing else paying 8% in September 2024.

clairec666

s71hj said:

clairec666 said:

s71hj said:

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

The regular saver market is determined to ensure that I end up feeling like the work I did to painstakingly fill my Natwest and RBS Regular savers via £1.01 debit card payments to myself for 5.5% was a waste of time. 

I didn't do the round-ups thing, but getting my Natwest regular saver up to £5000 was a long-term project and I felt pretty satisfied when I got there. Feels like cheating that I can get to £5000 in 5 months at Monmouthshire.... and for 7%

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

For an account with such strict withdrawal conditions, I'd want it to be fixed rate. Compared to Skipton for example, which is variable (tracks the base rate) but also doesn't allow withdrawals, you would at least get the full amount of interest if you closed the account early. The restrictions are more akin to First Direct (interest paid at their standard savings account variable rate if you close early), but at least First Direct offers you a fixed rate.

Bridlington1 said:

Also of note is that the General Ts&Cs state if a reduction to the interest rate is announced you will have 30 days in which you can close or switch the account without notice or penalty.

Thanks - I was looking for that information but didn't see it.

I tell myself that the RBS and Natwest ones are part of their sort of shop window display for their current accounts (metaphorically speaking) so they'll keep them competitive 

Those accounts have been around at a decent rate for a while now, and that hefty cut to 5.5% was a bit of a blow, but to be fair they'd stayed at 6% for quite a while before that.

The recent Natwest current account switch offer included an incentive of a bonus payment into the regular saver. So I reckon it's an account they won't be ditching any time soon.

It's a bit of an outlier in the regular saver world because it doesn't mature - hopefully it will remain that way!

kermchem

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

Interesting, almost like someone at Beverley BS had been reading some of the posts on here and decided to come up with a slightly different RS for Savings Week.

• No closing date - does that mean it runs for ever? Or at least until they cut the rate and savers leave. And you can keep putting money in for ever.
• Issue 1 - so this is the first RS from a single branch BS
• Not far from Beverely to Bridlington 
• Exactly one payment in must happen each month, but amount can vary
• The obvious date to get your money out is 2nd January any year. 

Cweb

Zopa R/S

For anyone else who may have ‘accidentally’ broken the terms are paid more than the £300 monthly allowance, you should have an e-mail informing of a technical error in the app on Zopa’s part that allowed you to deposit more but giving you a month to withdraw the extra before they do it for you to an instant access pot. They are honouring the extra amounts earning the interest so incentive is to go right up to the deadline.

clairec666

kermchem said:

Bridlington1 said:

Beverley BS Regular Saver Issue 1 has been launched at 5.5% (variable)

Rate includes a bonus of 4.5% pf you deposit between £10 and £150/mth and make no withdrawals in the calendar year. Account must remain open on 31st December in order to receive the bonus.

£150/mth max

Unlimited withdrawals however withdrawals result in the bonus being lost for that year.

Online only

No maturity date specified.

Interest paid 31st December each year.

Interesting, almost like someone at Beverley BS had been reading some of the posts on here and decided to come up with a slightly different RS for Savings Week.

• No closing date - does that mean it runs for ever? Or at least until they cut the rate and savers leave. And you can keep putting money in for ever.
• Issue 1 - so this is the first RS from a single branch BS
• Not far from Beverely to Bridlington 
• Exactly one payment in must happen each month, but amount can vary
• The obvious date to get your money out is 2nd January any year. 

I failed to notice that at first glance. Yes, the appears to be no information about "length of term" or "maturity" so I assume its ongoing like the Natwest one? That makes it seem rather more appealing than I first thought, although the limited access is offputting. Presumably if you made your withdrawal at the start of January you'd close the account or leave it empty, as there's little point keeping anything in there for the year earning 1% interest. It's a bit of a strange one.

Ch1ll1Phlakes

Kim_13 said:

Ch1ll1Phlakes said:

Quick question. Any ideas when the Yorkshire 6% will be pulled. I missed out on last years iteration.

After a deep dive through the previous regular saver discussion thread I see that the 8% version was pulled on the 20th, the Friday after last year UK Savings Week. Are we thinking the account will be pulled Friday 26th this year or the 3rd?

I want one but don't have the funds until the end of the week to fill it. And I'm OCD about my account maturities and funding as soon as the account is opened so don't want to open earlier than Friday.

I wouldn't be surprised if it hung around longer than last year's version, simply because it is less desirable. There are plenty of accounts paying 6% plus, with deposit limits in excess of £50 per month and some of them fixed. There was nothing else paying 8% in September 2024.

Appreciate the reply. I was thinking something similar, just don't have an account with Yorkshire at the moment and don't want to miss this one.

Hattie627

Beverley BS Regular Saver

Not sure I like this. If BBS drop the bonus rate of 5.5% so that it becomes uncompetitive, you are stuck with that rate until the December 31st following. If you pull your money out mid-year in response to the account becoming uncompetitive, your money (including what you take out) will only earn 1% during the period from the previous 31 December to the date of withdrawal. The alternative is to leave your money at an uncompetitive rate until the next 31 December. Have I got this right? (I've opened the account online, but am having second thoughts about funding it)