The Top Regular Savers Discussion Thread

SJMALBA

Co-Op RS:

Am I correct in thinking that the term starts on day of initial deposit, rather than day of opening?

I have a Cashminder account fully open (inc. online access), which was a relatively slow process - is opening the RS a same day 'event,' or also a protracted exercise?

TIA

EssexHebridean

As if by magic, new Principality Xmas 2026 set up the day before the maturity of the 2025 version, funded, and my monthly transfer standing order set up from the current account too. Easy as pie, as usually seems to be the case with Principality. 

clairec666

SJMALBA said:

Co-Op RS:

Am I correct in thinking that the term starts on day of initial deposit, rather than day of opening?

I have a Cashminder account fully open (inc. online access), which was a relatively slow process - is opening the RS a same day 'event,' or also a protracted exercise?

TIA

From the T&Cs:
"12 month term - The 12 months starts from the date we receive and accept your 1st deposit"

They take a few days to process an application for a regular saver. Mine was about 5 days last time, despite being an existing customer and having had a regular saver recently mature.

SJMALBA

clairec666 said:

SJMALBA said:

Co-Op RS:

Am I correct in thinking that the term starts on day of initial deposit, rather than day of opening?

I have a Cashminder account fully open (inc. online access), which was a relatively slow process - is opening the RS a same day 'event,' or also a protracted exercise?

TIA

From the T&Cs:
"12 month term - The 12 months starts from the date we receive and accept your 1st deposit"

They take a few days to process an application for a regular saver. Mine was about 5 days last time, despite being an existing customer and having had a regular saver recently mature.

Don't know how I missed that in the Ts & Cs - doh! 

Given your experience. I may as well apply for one today... thanks.

EDIT (11:20): Co-Op online banking 'temporarily unavailable...

Ch1ll1Phlakes

clairec666 said:

Principality: I've delayed submitting my maturity instructions for last year's Christmas account, in case this year's one is offered as a maturity option. We got into a good healthy debate a few pages back about whether a higher rate for 6 months was better than a lower rate for 12 months.

I might tinker around with a spreadsheet to see which one is the better option.

(To be honest, it's just an excuse to tinker around with a spreadsheet!)

I've done the same only had a few days left before I had to complete my maturity instructions and got the reminder email yesterday (though it said I had 7 days when I clearly didn't)

6.5% FIX will be perfect and the extra £25pm is an added bonus.

Also get to tinker with my spreadsheet now too 

Ch1ll1Phlakes

Maturity Instructions now set up. And by the looks of things will keep the same account number, will make setting up the standing order a little easier.

ThePirates

clairec666 said:

Principality: We got into a good healthy debate a few pages back about whether a higher rate for 6 months was better than a lower rate for 12 months.

I might tinker around with a spreadsheet to see which one is the better option.

@claire666 any chance of a copy of that part of you spreadsheet, I'm struggling with the 6mths v 12mths somewhere else at a lower rate!

happybagger

Born2Save_3 said:

I opened and did my first transfer for £300 yesterday, without satisfying COP,

re: Hanley, For anyone doing a transfer waiting for COP to work, note for me it took two working days to be recognised

clairec666

ThePirates said:

clairec666 said:

Principality: We got into a good healthy debate a few pages back about whether a higher rate for 6 months was better than a lower rate for 12 months.

I might tinker around with a spreadsheet to see which one is the better option.

@claire666 any chance of a copy of that part of you spreadsheet, I'm struggling with the 6mths v 12mths somewhere else at a lower rate!

This is what I've got so far:
https://docs.google.com/spreadsheets/d/1n50F6t5Jsb3kpjSVxP7HwvaoLDi0a0-IjllulAmxrGE/edit?usp=sharing

Assuming for the sake of simplicity that you've got £150 a month to deposit (yes, the 6 month account has a higher limit, but in order to compare the two accounts fairly I've pretended they both have a limit of £150).

Scenario 1: open a 6 month regular saver and fund it with £150 each month. When it matures, see if you can manage to get yourself two accounts, continuing to fund one with new money, while using the matured account to fund the other one.
Any remaining funds can sit in an easy access account (I've set it to 3.5% here) while waiting to drip-feed.

Scenario 2: open a Christmas regular saver and fund it with £150 each month for a year.

If you just stick the 6-month proceeds into a current account paying 0% interest, then you'll actually get less interest over the year than if you picked the 12 month account. (This is what started the debate earlier in this thread.) But the interest gained on the drip-feed account will swing things back in favour of the 6 month account.

Newly_retired

New Principality Christmas RS 2026 opened, My 2025 version matures today and funds will be transferred to my current account tomorrow, ready for removal elsewhere. I have already funded the new RS.