The Top Regular Savers Discussion Thread

RosieRooBear

https://forums.moneysavingexpert.com/discussion/comment/82014116#Comment_82014116

@roked, you can do it today. I refreshed mine end of March to free up funds to put back in my flexible ISA before the end of the tax year. I was able to close it and open a new one straight away 😊

CricketLady

Re Skipton 5.75% RS - mine is also due to mature on Monday 1st June but I didn't know this could be closed early as the two previous posters have discussed -

I'm now considering doing this in order to effect a 13th payment next year - do Skipton accept this?

Thanks so much

xx

cc123mm456

@CricketLady Re Skipton 5.75% Member RS

There is a deposit maximum of £3,000 for this account. So if you are planning to deposit the maximum of £250 per month for the first 12 months, then a 13th payment is not allowed.

Starting the account just before the month end is still a good approach, because it allows deposits by calendar month. The 1st and 2nd payments can be made a few days apart, so generating a bit more interest.

happybagger

Re: Loughborough BS Super Saver maturity

The maturity letter for this account has arrived, the default account pays 1.4%, and there's nothing offered over and above what is on the website. Like the Holiday Saver earlier, it gives the option to send funds to bank so this appears to have become the norm for LBS, thankfully.

Kryten_the_Titan

Has anyone come across a regular saver with reasonable interest rate that matures at 9 or 10 months when the saved cash saved needs to be accessed? They all appear to be 12 months. Or could I simply withdraw the money (if allowed) at 10 months and wait for the interest to be paid at maturity of 12 months? I'm not sure if that is allowed.

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/82014385#Comment_82014385

Just close when you need the funds and interest will be paid then.

BEWARE the likes of First Direct, however, where early closure costs you hefty penalty in interest.

Check each product reference allowance of withdrawals or early closure.

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82014352#Comment_82014352

Received this too.

They must be cost cutting (or maybe an error) as they didn't include a return envelope (unlike another RS with them that's due to mature very soon).

Remarkably in the same post was another letter from them suggesting that I may have to prove my identity on another 'inactive' account I have with them which used to be a great RS. That was unless I had other accounts with them then I should ignore the letter.

So saving postal costs on one hand and wasting them on (on irrelevant letters) on the other.

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82014385#Comment_82014385

Id navigate to the first page if I were you and have a look at which RS allow for these criteria 👍

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82014352#Comment_82014352

I was wanting to keep a token amount in the maturity account (the Holiday Monthly Saver is my only LBS account) in case a Super Saver should appeal in future (I'm not local so would need to qualify under the loyal part.) Guessing I'll have to do it the old fashioned way and write asking for a cheque withdrawal, as the form was only for a full closure.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82014385#Comment_82014385

There were a couple of 10 monthers earlier in the year (Furness 160th Anniversary and West Brom Winter Ready) but these are no longer available and the only such accounts I had seen. It’s either 6 months (Principality and Zopa I believe, although the rate on the former is uncompetitive at this point) or open a 12 month account that allows it and withdraw/early close when needed.

If withdrawing, the interest will be paid at the 12 month point but if early closure is the only option, interest will be paid when you close the account.