The Top Regular Savers Discussion Thread

Hattie627

I've had an open-ended RS with Bucks BS since 2016 (think it's now called Residents and Locals RS, although I'm not a local). Sometimes the rate is competitive, sometimes not. I actually have two, the later one is from 2017 which was opened as a different type of RS account but a re-organisation in 2018 by the Society led to the two accounts becoming the same type, with existing holders allowed to keep more than one open. Currently the rate is not competitive but I deposit £20 per month in each and reduce the balance every so often. I like Bucks BS and it feels  "different" to be dealing with a one branch society in the quaintly named village of Chalfont St Giles. Who knows what tempting offers Bucks will come up with in the future for its old lags like me?

allegro120

Speculator said:

ForumUser7 said:

etienneg said:

Open-ended accounts are something I haven't considered in the past. Are there any others at the moment?

Some of the following providers have (or had) them:

• Darlington BS
• Buckinghamshire BS
• Ecology BS
• Co-op Credit Union
• Hanley EBS
• Leeds BS
• Loughborough BS
• Mansfield BS
• Melton BS
• NatWest and RBS (Competitive)

N.B. These rates/dividends generally aren't competitive

still have one with Coventry (former Stroud and Swindon RS)

This must be the same account I had.  Out of curiosity, what is the interest rate?

Kim_13

allegro120 said:

Speculator said:

ForumUser7 said:

etienneg said:

Open-ended accounts are something I haven't considered in the past. Are there any others at the moment?

Some of the following providers have (or had) them:

• Darlington BS
• Buckinghamshire BS
• Ecology BS
• Co-op Credit Union
• Hanley EBS
• Leeds BS
• Loughborough BS
• Mansfield BS
• Melton BS
• NatWest and RBS (Competitive)

N.B. These rates/dividends generally aren't competitive

still have one with Coventry (former Stroud and Swindon RS)

This must be the same account I had.  Out of curiosity, what is the interest rate?

Two former Stroud and Swindon accounts are showing on their website as having gone NLA on 30/9/2011, one an ISA and one not, both currently paying 4.55%. So the ISA is quite competitive currently and the ordinary one less so.

someone

Furness BS Christmas Regular saver (Issue 2)

Does anyone know when Furness BS pay interest for this account? It does not seem to be in the literature. Is it on account anniversary (so next tax year), just before april (this tax year)? Or something else?

dcs34

someone said:

Furness BS Christmas Regular saver (Issue 2)

Does anyone know when Furness BS pay interest for this account? It does not seem to be in the literature. Is it on account anniversary (so next tax year), just before april (this tax year)? Or something else?

Furness BS Christmas Regular saver (Issue 2)
I have in my notes that it pays at maturity at the end of the 12 month term (or at closure).

Edit: confirmed here, second sentence: https://www.furnessbs.co.uk/media/pzrb2p3o/christmas-regular-saver-issue-2-03-01-2025.pdf

Albeit their wording is "on the anniversary of the account opening" and say that the account "matures one year from date of opening". But even with my work 'legal drafting & contract review' hat on, I think that must mean the same thing!

simonsmithsays

Hattie627 said:

I've had an open-ended RS with Bucks BS since 2016 (think it's now called Residents and Locals RS, although I'm not a local). Sometimes the rate is competitive, sometimes not. I actually have two, the later one is from 2017 which was opened as a different type of RS account but a re-organisation in 2018 by the Society led to the two accounts becoming the same type, with existing holders allowed to keep more than one open. Currently the rate is not competitive but I deposit £20 per month in each and reduce the balance every so often. I like Bucks BS and it feels  "different" to be dealing with a one branch society in the quaintly named village of Chalfont St Giles. Who knows what tempting offers Bucks will come up with in the future for its old lags like me?

I've also got a Buck RS - opened in 2018.

However at 3.4% it's not competitive but it doesn't require contributions each month.

Hence I've just got £50 in it which I don't add to

ChewyyBacca

I have to close the following Regular Savers in January. I may open some of these RS in March depending on cash flow

Yorkshire Loyalty Regular eSaver
Lloyds Club Monthly Saver
Lloyds Monthly Saver
Halifax Regular Saver x
Principality 1 year Regular Saver Iss 34
Principality 1 Year Triple Access Regular Saver
NewCastle Regular Saver
Aldermore Regular Saver
Virgin Money Regular Saver Exclusive 

Questions:

1. Which of the banks/BS wont allow me to open the new RS before 1 year is over?
2. Any of Regular Savers I am better off just withdrawing from, rather than closing, since their equivalent product is not available? The interest accrued will definitely help, but I can consider not closing the saver completely if it makes more sense.


Thanks

masonic

Halifax and Lloyds can be renewed if you upgrade to a different account type before closing.

ChewyyBacca

masonic said:

Halifax and Lloyds can be renewed if you upgrade to a different account type before closing.

masonic Could you please explain what do you mean by upgrading to a different type of account?

PowerSavingMode

ChewyyBacca said:

I have to close the following Regular Savers in January. I may open some of these RS in March depending on cash flow

Yorkshire Loyalty Regular eSaver
Lloyds Club Monthly Saver
Lloyds Monthly Saver
Halifax Regular Saver x
Principality 1 year Regular Saver Iss 34
Principality 1 Year Triple Access Regular Saver
NewCastle Regular Saver
Aldermore Regular Saver
Virgin Money Regular Saver Exclusive 

Questions:

1. Which of the banks/BS wont allow me to open the new RS before 1 year is over?
2. Any of Regular Savers I am better off just withdrawing from, rather than closing, since their equivalent product is not available? The interest accrued will definitely help, but I can consider not closing the saver completely if it makes more sense.


Thanks

CLOSING RSs WITH A VIEW TO RE-OPEN AT A LATER DATE

If you can afford to, I'd keep the Virgin Money Regular Saver Exclusive IF it's the 10% one.

The Principality 1 year Regular Saver Iss 34 is NLA, so you could easily apply for issue 35 as and when you can.