The Top Regular Savers Discussion Thread

ThePirates

Bobblehat said:

Should I open a 6 month RS Iss 4 before the Xmas RS matures in order to possibly grab a 2nd 6 month RS as a maturity option? 

Definitely!

TheQuaker

So I just opened a First direct current account and then a 7% Regular Saver. It made me setup a standing order starting today to the RS and it says it will be applied on this date every month. Can I cancel the standing order, so it goes in on the First of November and the first every month going forward or does it have to be like this?

Speculator

TheQuaker said:

So I just opened a First direct current account and then a 7% Regular Saver. It made me setup a standing order starting today to the RS and it says it will be applied on this date every month. Can I cancel the standing order, so it goes in on the First of November and the first every month going forward or does it have to be like this?

No. "You can't change the payment date. It needs to stay the same once set up"

Bobblehat

clairec666 said:

Bobblehat said:

clairec666 said:

dibbles212 said:

cheekyweegit said:

Kim_13 said:

s71hj said:

Interested in people's thoughts. Based on something I read on here I'm thinking of opening Principality RS accounts 1 Yr bond at 4.85%and 1 Yr triple access at 4.95%. Both below my normal threshold but idea was to fund at £1 and hopefully be able to gain something profitable as a maturity option, given that Principality seem to have loopholes in their maturity policy. Is there anything wrong with this strategy? 

1 Year Triple Access did not have any maturity options when 2024's early accounts matured this year (April I believe.) Has anyone had one maturing with options since?

Mine is due to mature 02.11.2025 so bit early for maturity instructions if you indeed get any.  This is my first Triple access so I'll see what happens.

My Christmas Regular Saver matures 25.10.25 so might get something in next day or two for that.

I also have a 6 month Regular Saver Issue 3 maturing on 01.11.25 so still a bit early

Then next is another 6 month Regular Saver Issue 3 on 10.12.25 and I'm going to try and sneak an extra payment in for the 10 days until it matures.

I'm hoping to try and get another couple of Issue 4 6 month savers, currently have 2 x issue 3 and 2 x issue 4.  Any more via maturity is a bonus and my other two 6 month Issue 4 regular savers don't mature until February & March next year.

Could someone please explain how to get multiple accounts of the same issue? 👀

Principality's T&Cs state that you can only have one of each issue. The current issue is issue 4, so if you've only got an issue 3, you can open one. Simple. When issue 3 matures, you'll be offered maturity options, one of which is to open a new regular saver with some of your matured funds, withdrawing the rest. If you select this option, you could get a new issue 4, alongside your existing one, because Principality's system doesn't automatically pick up the fact that you should be ineligible. Sometimes it doesn't work, but that's a story for another day.

Rinse and repeat. When your two issue 4s reach maturity, you may have already been able to open an issue 5 manually, so could end up with 3 altogether. And so on.

I'm still a bit unsure about my best options as my Xmas RS approaches maturity on 24/10. The only other Principality account I have is the EA 3 Access with a £1 in it which I only keep now as a foot-in-the-door account.

Should I open a 6 month RS Iss 4 before the Xmas RS matures in order to possibly grab a 2nd 6 month RS as a maturity option? Should I open the 6 month RS Iss 4 now even if I'm not offered a 2nd one as a maturity option, but offered a hypothetical new Winter maturity RS (re: Kim_13) instead ? I am financially able to fund either possibility as I'm trying to reduce my Chase Boosted EA holdings.

Also, where does the previously mentioned "1 year regular saver bond" (Re: Kermchem) fit into any plan? Could I open that in addition to either of the two possibilities above? I realise the current rates of this and the Chase EA are similar, but the Saver Bond is fixed.

What would you do if you were able to fund all three (or more!)? Would you "Go for it"? TIA for your thoughts.

For a complete picture, I'm also likely to open the Scottish Online RS (once released) and I'm about to apply for the Zopa RS too! BTW, this isn't just an attempt to climb up the RS table in the other RS thread, I'm just trying to make better use of EA funds!   

Well, the simple answer to "should I open an account offering 7.5% interest if I've got the funds" is "yes", regardless of maturity options
(unless you're not keen on the 6 month term)
I'm surprised that a regular saver pro like yourself hasn't jumped on the "multiple Principality RS" bandwagon yet!

That's the really obvious bit I missed .... "regardless of the maturity options" ... you are so right! The 6 month Principality pay-out looked so low compared with offerings by Monmouth, Manchester, and the like, that I had wrongly pushed it down the list to concentrate on. That and my reluctance to engage in any "rule bending" activity, which I may have rightly, or wrongly, assumed was involved in grabbing multiple 6 month accounts! Recent discussions on here have corrected my assumptions on that front.

I did have a inkling that all the real RS pro's must know something I don't given that they were going for 2, 3, or more multiples of the 6 month, but those £1000pm, £500pm accounts were getting in the way of my thinking, a bit like "not seeing the wood for the trees"! Every day is a school day on this forum!

What about the 1 year regular saver bond (fix) that kermchem mentioned this morning ... is it a completely separate consideration, available to open irrespective of any new Princ 6 month or Xmas RS that could be opened? Was the suggestion to fund it minimally just to get another 6 month RS at maturity?

clairec666

Bobblehat said:

What about the 1 year regular saver bond (fix) that kermchem mentioned this morning ... is it a completely separate consideration, available to open irrespective of any new Princ 6 month or Xmas RS that could be opened? Was the suggestion to fund it minimally just to get another 6 month RS at maturity?

That's a different account entirely, and having one won't make you ineligible for either the 6 month one or the Christmas one. As the interest rate isn't anything to write home about, I'm assuming that people here are only opening it (and minimally funding) so that they could potentially get yet another 6 monther as a maturity option. Which feels like bending the rules a bit too far in my opinion..... but I guess it's hardly worse than what I've done (I've landed myself two issue 4s, one as a maturity option from issue 2, and I guess if I wanted to abide properly by the T&Cs I should have turned down their generous offer of another issue 4)

SonOfPearl

A notice on the Principality BS website says that the Faster Payment Network is undergoing maintenance on Saturday 11th October. May be worth bearing in mind if anyone had been intending to do any transfers on that day. 

jameseonline

potlings said:

ThePirates said:

RosieRooBear said:

easyasonetwothree said:

Hattie627 said:

I have a Principality Christmas 2025 RS maturing on 24th October. I'm hoping to do a rollover to the 6 month RS (issue 4). I can't remember when the online maturity options menu normally appears, possibly 14 days before maturity (which would be tomorrow). Can anyone remember if it's 14 days or 7 days?

Though they might bring out another Christmas saver which could be worth considering.

No, you rollover the maturing one to a 6 month RS4 and you can open a Christmas saver separately if they do release one. 

That's how a lot of us now have 4+ RS4s 😉

Can you roll the entire balance of the maturing account into the 6 month RS4 or are you limited to the max monthly amount , which is £200?

You can only rollover £200 into the account 🤣, Principality aren't as generous as letting you rollover everything.

So if you've saved the max of £1500 for Xmas you'll have £1300 (+ interest on the £1500) to go somewhere (probably nominated account) & £200 in the rolled over account, the name of the account may change but the sort code etc won't.

jameseonline

TheQuaker said:

So I just opened a First direct current account and then a 7% Regular Saver. It made me setup a standing order starting today to the RS and it says it will be applied on this date every month. Can I cancel the standing order, so it goes in on the First of November and the first every month going forward or does it have to be like this?

Don't think so, basically First Direct you are tied in for a year, if desperate you can cancel the account but you get a pathetic rate of interest etc.

I can't commit to First Direct especially when there's other 7% accounts such as Monmouthshire & CO OP without restrictions

Dizzycap

PowerSavingMode said:

BestSeagull said:

BestSeagull said:

qsk said:

Scottish building society. Has anyone who used the freepost address (not envelop) to post your RS application heard anything back? I posted last Friday - haven't heard a thing yet.

I did use the envelope but posted at the same time as you did and have heard nothing yet so hopefully we're in the same pile together.

My cheque has cleared, dated today. 

Scottish Building Society

As did mine. I should think the shiny passbook and account details will follow in the post...

Still nothing here and I hope things will move tomorrow. It's nice to hear that SBS RS are sorted for and passbooks on the way. If my cheque deson't clear tomorrow, I'll remove the funds from my bank & wait for the online version to appear, as you can't seemingly have both postal & online SBS RS's and I really do hate having to faff about with passbooks.