The Top Regular Savers Discussion Thread

chris_the_bee

trickydicky14 said:

Kim_13 said:

Born2Save_3 said:

gt94sss2 said:

gt94sss2 said:

Bridlington1 said:

HRBS Christmas RS to be launched 1/11/25

The details I've been given:
5% (var)
£100/Mth max
Can skip months 
30 notice on withdrawals which are unlimited 
Branch/post opening but can be viewed online once opened.

They have said they'll send an application pack to me when it's launched 

https://www.hrbs.co.uk/savings-products/christmas-saver-30-day-notice/

Has anyone who requested HRBS post them an application form received anything? 

I requested one via the web form (not via phone) and have not heard anything from them.

HRBS Application

Same here; requested on phone, received within 2 days; no envelope, despite asking for one. They indicate an email address, so I'm going to try returning the completed application by email first, and may just happen to mention being assured of an envelope but one not received.

My profit guesstimator on this one (Total invested times a bit more than half the stated rate) (1300*0.026)=£33.80 profit.  So a bit more profit than a Principality BS 6 month and more effort because it involves passbooks and no free envelopes.  Still if you're not a member yet there may be something good in the future.

Some discussion on HRBS, including envelopes here :

https://forums.moneysavingexpert.com/discussion/comment/80006228/#Comment_80006228

I got a prepaid envelope with the maturity pack (30 Day Notice Issue 1) which I still have, as it was possible to get funds out online once the account had morphed into an Easy Access. Provided no withdrawals are needed, it should only cost one stamp which is effectively reimbursed at the end.

Still a no from me as I have plenty of capacity in Melton Issue 5 at 5%, which is open ended and doesn't require notice. Speaking of Melton, their postal application products are back online, so it follows that the lack of a currently available RS indicates that the next one would accept online applications.

Can someone remind me why I have a note saying don't put more than 6k in to Melton issue 5. I can't remember, don't they pay interest over this amount? I currently have around 4.5k in this account.

Melton
Interest drops to 2.5% once over £6,000

soulsaver

ForumUser7 said:

trickydicky14 said:

ForumUser7 said:

trickydicky14 said:

Kim_13 said:

Born2Save_3 said:

gt94sss2 said:

gt94sss2 said:

Bridlington1 said:

HRBS Christmas RS to be launched 1/11/25

The details I've been given:
5% (var)
£100/Mth max
Can skip months 
30 notice on withdrawals which are unlimited 
Branch/post opening but can be viewed online once opened.

They have said they'll send an application pack to me when it's launched 

https://www.hrbs.co.uk/savings-products/christmas-saver-30-day-notice/

Has anyone who requested HRBS post them an application form received anything? 

I requested one via the web form (not via phone) and have not heard anything from them.

HRBS Application

Same here; requested on phone, received within 2 days; no envelope, despite asking for one. They indicate an email address, so I'm going to try returning the completed application by email first, and may just happen to mention being assured of an envelope but one not received.

My profit guesstimator on this one (Total invested times a bit more than half the stated rate) (1300*0.026)=£33.80 profit.  So a bit more profit than a Principality BS 6 month and more effort because it involves passbooks and no free envelopes.  Still if you're not a member yet there may be something good in the future.

Some discussion on HRBS, including envelopes here :

https://forums.moneysavingexpert.com/discussion/comment/80006228/#Comment_80006228

I got a prepaid envelope with the maturity pack (30 Day Notice Issue 1) which I still have, as it was possible to get funds out online once the account had morphed into an Easy Access. Provided no withdrawals are needed, it should only cost one stamp which is effectively reimbursed at the end.

Still a no from me as I have plenty of capacity in Melton Issue 5 at 5%, which is open ended and doesn't require notice. Speaking of Melton, their postal application products are back online, so it follows that the lack of a currently available RS indicates that the next one would accept online applications.

Can someone remind me why I have a note saying don't put more than 6k in to Melton issue 5. I can't remember, don't they pay interest over this amount? I currently have around 4.5k in this account.

The interest rate is tiered. At the time I opened it, £6,000+ only earned 2.5% on the portion over £6k.

Thank you for that info, I don't suppose you know if interest is included in that 6k figure do you?

This is from the terms:

£0-£5,999 5.00% gross / 5.00% AER

£6,000+ 2.50% gross / 2.50% AER

The interest rate on this account is tiered.

Interest, is payable annually on 31 May and can be added to the account,

transferred to your bank account or transferred to an existing Melton

Building Society savings account.

As shown in the table above, for balances up to £5,999.99 you will earn

interest at a rate of 5.00%, on any further savings beyond £6,000 you will

earn an interest rate of 2.50%.

For example, an account with a balance of £7,000, the first £5,999.99 of

the balance will earn interest at a rate of 5.00% and the remaining

£1000.01 will earn interest at a rate of 2.50%.

I would assume the full balance, including interest earned, is considered for interest tier purposes. That’s the assumption I’m operating on at least, but not sure.

Melton RS5

Don't think so:

"Based on the current rate of interest, if you deposited £500 on the 1st of each calendar month, after 24 months you would have £12,548.19. "

 

ForumUser7

soulsaver said:

ForumUser7 said:

trickydicky14 said:

ForumUser7 said:

trickydicky14 said:

Kim_13 said:

Born2Save_3 said:

gt94sss2 said:

gt94sss2 said:

Bridlington1 said:

HRBS Christmas RS to be launched 1/11/25

The details I've been given:
5% (var)
£100/Mth max
Can skip months 
30 notice on withdrawals which are unlimited 
Branch/post opening but can be viewed online once opened.

They have said they'll send an application pack to me when it's launched 

https://www.hrbs.co.uk/savings-products/christmas-saver-30-day-notice/

Has anyone who requested HRBS post them an application form received anything? 

I requested one via the web form (not via phone) and have not heard anything from them.

HRBS Application

Same here; requested on phone, received within 2 days; no envelope, despite asking for one. They indicate an email address, so I'm going to try returning the completed application by email first, and may just happen to mention being assured of an envelope but one not received.

My profit guesstimator on this one (Total invested times a bit more than half the stated rate) (1300*0.026)=£33.80 profit.  So a bit more profit than a Principality BS 6 month and more effort because it involves passbooks and no free envelopes.  Still if you're not a member yet there may be something good in the future.

Some discussion on HRBS, including envelopes here :

https://forums.moneysavingexpert.com/discussion/comment/80006228/#Comment_80006228

I got a prepaid envelope with the maturity pack (30 Day Notice Issue 1) which I still have, as it was possible to get funds out online once the account had morphed into an Easy Access. Provided no withdrawals are needed, it should only cost one stamp which is effectively reimbursed at the end.

Still a no from me as I have plenty of capacity in Melton Issue 5 at 5%, which is open ended and doesn't require notice. Speaking of Melton, their postal application products are back online, so it follows that the lack of a currently available RS indicates that the next one would accept online applications.

Can someone remind me why I have a note saying don't put more than 6k in to Melton issue 5. I can't remember, don't they pay interest over this amount? I currently have around 4.5k in this account.

The interest rate is tiered. At the time I opened it, £6,000+ only earned 2.5% on the portion over £6k.

Thank you for that info, I don't suppose you know if interest is included in that 6k figure do you?

This is from the terms:

£0-£5,999 5.00% gross / 5.00% AER

£6,000+ 2.50% gross / 2.50% AER

The interest rate on this account is tiered.

Interest, is payable annually on 31 May and can be added to the account,

transferred to your bank account or transferred to an existing Melton

Building Society savings account.

As shown in the table above, for balances up to £5,999.99 you will earn

interest at a rate of 5.00%, on any further savings beyond £6,000 you will

earn an interest rate of 2.50%.

For example, an account with a balance of £7,000, the first £5,999.99 of

the balance will earn interest at a rate of 5.00% and the remaining

£1000.01 will earn interest at a rate of 2.50%.

I would assume the full balance, including interest earned, is considered for interest tier purposes. That’s the assumption I’m operating on at least, but not sure.

Melton RS5

Don't think so:

"Based on the current rate of interest, if you deposited £500 on the 1st of each calendar month, after 24 months you would have £12,548.19. "

 

Explanation? Are you saying that they don't include interest in that 6k figure?

soulsaver

ForumUser7 said:

soulsaver said:

ForumUser7 said:

trickydicky14 said:

ForumUser7 said:

trickydicky14 said:

Kim_13 said:

Born2Save_3 said:

gt94sss2 said:

gt94sss2 said:

Bridlington1 said:

HRBS Christmas RS to be launched 1/11/25

The details I've been given:
5% (var)
£100/Mth max
Can skip months 
30 notice on withdrawals which are unlimited 
Branch/post opening but can be viewed online once opened.

They have said they'll send an application pack to me when it's launched 

https://www.hrbs.co.uk/savings-products/christmas-saver-30-day-notice/

Has anyone who requested HRBS post them an application form received anything? 

I requested one via the web form (not via phone) and have not heard anything from them.

HRBS Application

Same here; requested on phone, received within 2 days; no envelope, despite asking for one. They indicate an email address, so I'm going to try returning the completed application by email first, and may just happen to mention being assured of an envelope but one not received.

My profit guesstimator on this one (Total invested times a bit more than half the stated rate) (1300*0.026)=£33.80 profit.  So a bit more profit than a Principality BS 6 month and more effort because it involves passbooks and no free envelopes.  Still if you're not a member yet there may be something good in the future.

Some discussion on HRBS, including envelopes here :

https://forums.moneysavingexpert.com/discussion/comment/80006228/#Comment_80006228

I got a prepaid envelope with the maturity pack (30 Day Notice Issue 1) which I still have, as it was possible to get funds out online once the account had morphed into an Easy Access. Provided no withdrawals are needed, it should only cost one stamp which is effectively reimbursed at the end.

Still a no from me as I have plenty of capacity in Melton Issue 5 at 5%, which is open ended and doesn't require notice. Speaking of Melton, their postal application products are back online, so it follows that the lack of a currently available RS indicates that the next one would accept online applications.

Can someone remind me why I have a note saying don't put more than 6k in to Melton issue 5. I can't remember, don't they pay interest over this amount? I currently have around 4.5k in this account.

The interest rate is tiered. At the time I opened it, £6,000+ only earned 2.5% on the portion over £6k.

Thank you for that info, I don't suppose you know if interest is included in that 6k figure do you?

This is from the terms:

£0-£5,999 5.00% gross / 5.00% AER

£6,000+ 2.50% gross / 2.50% AER

The interest rate on this account is tiered.

Interest, is payable annually on 31 May and can be added to the account,

transferred to your bank account or transferred to an existing Melton

Building Society savings account.

As shown in the table above, for balances up to £5,999.99 you will earn

interest at a rate of 5.00%, on any further savings beyond £6,000 you will

earn an interest rate of 2.50%.

For example, an account with a balance of £7,000, the first £5,999.99 of

the balance will earn interest at a rate of 5.00% and the remaining

£1000.01 will earn interest at a rate of 2.50%.

I would assume the full balance, including interest earned, is considered for interest tier purposes. That’s the assumption I’m operating on at least, but not sure.

Melton RS5

Don't think so:

"Based on the current rate of interest, if you deposited £500 on the 1st of each calendar month, after 24 months you would have £12,548.19. "

 

Explanation? Are you saying that they don't include interest in that 6k figure?

I'm saying that in the illustration they've not paid 5% on the balance above £6k, whether that be interest earned and/or deposits.

ForumUser7

soulsaver said:

ForumUser7 said:

soulsaver said:

ForumUser7 said:

trickydicky14 said:

ForumUser7 said:

trickydicky14 said:

Kim_13 said:

Born2Save_3 said:

gt94sss2 said:

gt94sss2 said:

Bridlington1 said:

HRBS Christmas RS to be launched 1/11/25

The details I've been given:
5% (var)
£100/Mth max
Can skip months 
30 notice on withdrawals which are unlimited 
Branch/post opening but can be viewed online once opened.

They have said they'll send an application pack to me when it's launched 

https://www.hrbs.co.uk/savings-products/christmas-saver-30-day-notice/

Has anyone who requested HRBS post them an application form received anything? 

I requested one via the web form (not via phone) and have not heard anything from them.

HRBS Application

Same here; requested on phone, received within 2 days; no envelope, despite asking for one. They indicate an email address, so I'm going to try returning the completed application by email first, and may just happen to mention being assured of an envelope but one not received.

My profit guesstimator on this one (Total invested times a bit more than half the stated rate) (1300*0.026)=£33.80 profit.  So a bit more profit than a Principality BS 6 month and more effort because it involves passbooks and no free envelopes.  Still if you're not a member yet there may be something good in the future.

Some discussion on HRBS, including envelopes here :

https://forums.moneysavingexpert.com/discussion/comment/80006228/#Comment_80006228

I got a prepaid envelope with the maturity pack (30 Day Notice Issue 1) which I still have, as it was possible to get funds out online once the account had morphed into an Easy Access. Provided no withdrawals are needed, it should only cost one stamp which is effectively reimbursed at the end.

Still a no from me as I have plenty of capacity in Melton Issue 5 at 5%, which is open ended and doesn't require notice. Speaking of Melton, their postal application products are back online, so it follows that the lack of a currently available RS indicates that the next one would accept online applications.

Can someone remind me why I have a note saying don't put more than 6k in to Melton issue 5. I can't remember, don't they pay interest over this amount? I currently have around 4.5k in this account.

The interest rate is tiered. At the time I opened it, £6,000+ only earned 2.5% on the portion over £6k.

Thank you for that info, I don't suppose you know if interest is included in that 6k figure do you?

This is from the terms:

£0-£5,999 5.00% gross / 5.00% AER

£6,000+ 2.50% gross / 2.50% AER

The interest rate on this account is tiered.

Interest, is payable annually on 31 May and can be added to the account,

transferred to your bank account or transferred to an existing Melton

Building Society savings account.

As shown in the table above, for balances up to £5,999.99 you will earn

interest at a rate of 5.00%, on any further savings beyond £6,000 you will

earn an interest rate of 2.50%.

For example, an account with a balance of £7,000, the first £5,999.99 of

the balance will earn interest at a rate of 5.00% and the remaining

£1000.01 will earn interest at a rate of 2.50%.

I would assume the full balance, including interest earned, is considered for interest tier purposes. That’s the assumption I’m operating on at least, but not sure.

Melton RS5

Don't think so:

"Based on the current rate of interest, if you deposited £500 on the 1st of each calendar month, after 24 months you would have £12,548.19. "

 

Explanation? Are you saying that they don't include interest in that 6k figure?

I'm saying by my maths, they've not paid 5% on the balance above £6k, whether that be interest earned or deposits.

I agree. I confirmed to OP that 2.5% is paid on balances above £6k, and thought the full balance (interest and deposits) was considered in defining these tiers (it isn't like 6k of deposits and then the sum of interest is all calculated at 5%, and the reminder at 2.5%, just 6k of funds in the account are calculated at 5%).

I would assume the full balance, including interest earned, is considered for interest tier purposes. - They don't consider accumulated interest separately.

Kim_13

ForumUser7 said:

soulsaver said:

ForumUser7 said:

trickydicky14 said:

ForumUser7 said:

trickydicky14 said:

Kim_13 said:

Born2Save_3 said:

gt94sss2 said:

gt94sss2 said:

Bridlington1 said:

HRBS Christmas RS to be launched 1/11/25

The details I've been given:
5% (var)
£100/Mth max
Can skip months 
30 notice on withdrawals which are unlimited 
Branch/post opening but can be viewed online once opened.

They have said they'll send an application pack to me when it's launched 

https://www.hrbs.co.uk/savings-products/christmas-saver-30-day-notice/

Has anyone who requested HRBS post them an application form received anything? 

I requested one via the web form (not via phone) and have not heard anything from them.

HRBS Application

Same here; requested on phone, received within 2 days; no envelope, despite asking for one. They indicate an email address, so I'm going to try returning the completed application by email first, and may just happen to mention being assured of an envelope but one not received.

My profit guesstimator on this one (Total invested times a bit more than half the stated rate) (1300*0.026)=£33.80 profit.  So a bit more profit than a Principality BS 6 month and more effort because it involves passbooks and no free envelopes.  Still if you're not a member yet there may be something good in the future.

Some discussion on HRBS, including envelopes here :

https://forums.moneysavingexpert.com/discussion/comment/80006228/#Comment_80006228

I got a prepaid envelope with the maturity pack (30 Day Notice Issue 1) which I still have, as it was possible to get funds out online once the account had morphed into an Easy Access. Provided no withdrawals are needed, it should only cost one stamp which is effectively reimbursed at the end.

Still a no from me as I have plenty of capacity in Melton Issue 5 at 5%, which is open ended and doesn't require notice. Speaking of Melton, their postal application products are back online, so it follows that the lack of a currently available RS indicates that the next one would accept online applications.

Can someone remind me why I have a note saying don't put more than 6k in to Melton issue 5. I can't remember, don't they pay interest over this amount? I currently have around 4.5k in this account.

The interest rate is tiered. At the time I opened it, £6,000+ only earned 2.5% on the portion over £6k.

Thank you for that info, I don't suppose you know if interest is included in that 6k figure do you?

This is from the terms:

£0-£5,999 5.00% gross / 5.00% AER

£6,000+ 2.50% gross / 2.50% AER

The interest rate on this account is tiered.

Interest, is payable annually on 31 May and can be added to the account,

transferred to your bank account or transferred to an existing Melton

Building Society savings account.

As shown in the table above, for balances up to £5,999.99 you will earn

interest at a rate of 5.00%, on any further savings beyond £6,000 you will

earn an interest rate of 2.50%.

For example, an account with a balance of £7,000, the first £5,999.99 of

the balance will earn interest at a rate of 5.00% and the remaining

£1000.01 will earn interest at a rate of 2.50%.

I would assume the full balance, including interest earned, is considered for interest tier purposes. That’s the assumption I’m operating on at least, but not sure.

Melton RS5

Don't think so:

"Based on the current rate of interest, if you deposited £500 on the 1st of each calendar month, after 24 months you would have £12,548.19. "

 

Explanation? Are you saying that they don't include interest in that 6k figure?

Rough calculation, the £5,999.99 would earn £300 in the second year, so circa £450 of the interest is earned at 5%. So the second £6,000 of contributions earns £98.19, against the circa £75 expected (average 3,000 * 0.025.) So the illustration might suggest not, although it wouldn't be the first time an illustration had given wrong figures (if I recall correctly, it wasn't even possible to get to the balance they gave for Adcock.)

bristolleedsfan

shirley999 said:

I requested an application form from the Scottish Building Society beginning of October, as I don't have a printer.  They haven't sent me one.  I guess they don't need my custom.

I requested an application form from the Scottish Building Society beginning of October, was received.