The Top Regular Savers Discussion Thread

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82001171#Comment_82001171

The RS world is full of surprises, but as chris_the_bee said, I don't think this trick with Milestone will work. However, if you close the old one and open a new one with cheque you might be able to squeeze another £500 by electronic transfer. I'm not adventurous enough to do this. Also I'm not too keen on refreshing. I refreshed Club Lloyds and maybe one or two more LBGs when the rates were going up, recently I refreshed both of my VMs, apart from that I prefer them to run until the end of term or until the rate falls below my EA accounts.

It looks like the recent RS peak is over, but we've been there before, trends tend to come back at least in some capacity.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82001407#Comment_82001407

I'm very much the same with refreshing RS. I've refreshed a couple primarily for a better spread of maturity dates through most months of the year. I try to have at least 2 RS maturing each month, but last year sent than plan awol 😅. It was a case of grab, it while you can.

As there continues to be a strong push towards fixed rate bonds with almost daily increases of competing interest rates which is ultimately pushing up fixed rate interest rates on Cash Isa's, I really don't expect things on either of those fronts to begin calming down, if at all, until the end of next week. Then perhaps, we'll see some new RS on the block. I'd be surprised if Saffron didn't offer another members loyalty RS at a high interest rate; albeit @ only £50 max a month in June, as that's their Members Saving Week; which they're advertising now. That RS works for me with compounding interest along with the corresponding YBS members loyablty RS, usually September.

Strangely, I have no RS maturing in July? I have a couple maturing in August before all Hell lets loose in September & October 😂🤣. Not helped by the fact that one of my 2 year Melton Mowbray RSs is also maturing in September 😏😅. I would dread to think that we've got to wait until July/August before we see any new RSs 🤔😯. Let's hope when we do, we see a half decent interest rate and that Pricipality's 5% 6 month RS hasn't set the interest rate bar, which I think it might have 🤨🤐.

mhoc

Same here - in June I've got Saffron and then Principality triple access maturing in the 2nd week and then not a single thing maturing in July until the 1st of August so thats 6 weeks of nothing maturing!

Was there also a RS drought last July?

June 1st I am not too worried about having enough in the easy access account to cobble together and transfer and meet the standing orders as there is still a surfeit from the May maturities.

July 1st will need more forward planning and probably involve emptying what is left in Stafford and probably doing the same with Leek (both these just get token amounts for the last year or so)

Fixed rate bonds would be fine if you are completely certain you wont need access to the money at all in the next year but life is full of uncertainties - and only if the interest rates were far better than Zopas easy access for 4.75% or Cahoot 5% so really they need to be well over 5% or more (if you are going to exceed your Personal allowance).

Bridlington1

I know it's not good news for those trying to maximise their savings, but the ``RS drought" couldn't've come at a better time for me. As few of you are, I'm currently buying a property and the RS drought's meant I've avoided the complication of opening a load of RSs when I'm trying to get proof of funds sorted and has allowed me to cut back on my forum activities much more sharply when I've needed to.

If it can stay quiet till I've moved and then a load of 8% RS get launched one after the other for a few months that'd be grand.

A heads up, depending how busy I am I may have to delay this month's update of the RS timeline and do 2 month's worth at the end of June, I might not need to do this though but it may happen.

clairec666

I too don't mind the drought too much, as I'm also buying a property, and my accounts are gradually being whittled down. I'd still like to have one maturing per month though, and will be tempted to grab anything over 7% even if I don't particularly need it.

In answer to your question about a July drought @mhoc last July we could get hold of both members and non-members Skipton RSs, before they close that loophole. I can't recall anything else around that time, then there was the mad Monmouthshire rush in August and I've got a glut of accounts maturing around October.

Andystriker

https://forums.moneysavingexpert.com/discussion/comment/82001848#Comment_82001848

https://forums.moneysavingexpert.com/discussion/comment/82001901#Comment_82001901

How spooky would it be if you found you were both neighbour's at your new properties 😀

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82001938#Comment_82001938

Well least we know what the gossip would be over the garden fence. 😀

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82001798#Comment_82001798

Last July wasn't very eventful, but I have Suffolk, Progressive and Monmouthshire maturing in July, so It wasn't completely dry.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82001938#Comment_82001938

I think we're at opposite ends of the country!

pfpf

First Direct:

RS matured W 13/05 with interest added. still showing as a RS and only earning 1.05%. i know it says it can take up to 5 working days to transfer to a normal saver and then be able to withdraw but why? with the addition of the weekend its going to be 1 week minimum just sat there. a bit annoying.