The Top Regular Savers Discussion Thread

MaxBlax

Lloyds Banking Group Regular Savers

Yesterday I had the following Lloyds Banking Group Regular Savers:

Club Lloyds 6.25%
Lloyds 5.25
Bank of Scotland 5.5%
Halifax 5.5%

This morning I did the following:

1. Renewed the Halifax 5.5% to easy saver and successfully opened a new 8% Halifax RS
2. Based upon PRAISETHESUN's experience, renewed my Lloyds 5.25% to easy saver and tried to open a new Lloyds RS but none were available for me to open

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/82068692#Comment_82068692

That will be because you still hold the CL RS. You can no longer hold/open both the CL RS and non-CL RS, and the system seems good at enforcing this when trying to open new accounts.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82068664#Comment_82068664

My very quick spreadsheet calculation comes out at £162.50 interest in the "old" club Lloyds account, whereas £250 in the "new" Club Lloyds with £150 in another easy access account at 5% gives you £178.75.

This of course doesn't take into account how long your existing account has been open for.

A lot depends on individual circumstances, and how much capacity you have in other regular savers. For me, I'm struggling to fund anything under 6.5% so closing my 5-month-old Club Lloyds could be beneficial. If you've got a higher balance and nowhere else to put it then it you might be better off keeping it open and hoping the 8% account is still around when it matures.

mhoc

Halifax

Can confirm that Halifax renewal is working this morning. My Halifax was not due to mature until April 2027 so it only had a £1000 balance if the experiment didnt work it was no great loss. But it all went like clockwork - renewed to an everyday saver, emptied the funds into the current account.

Then I logged out and back in again, opened the new 8% regular saver, funded, cancelled the old SO and started a new SO, closed the unneeded everyday saver, updated calendar, google savings chart and maturity chart, all done.

Then repeated for OHs Halifax regular saver.

Added bonus is that I now have a regular saver maturing July 2027 which did not have any. Plus a top up for the general savings pot to feed the August 2026 regular savers SOs which was looking a bit lacking.

LLoyds

Both of my Lloyds regular savers don't mature until May 2027 and I've resigned myself to now only having one instead of 2. But it looks like I am now in a better position at least until May 2027. - I still have 10 months with £400 a month at 6.25% and 10 months of £250 at 5.25% which together should produce more interest than the new offering of £250 at 8% …

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82068692#Comment_82068692

You're hitting the "can't have more than 1 RS at Lloyds" rule. True test would be to renew the Club RS too and try again - but like me you're waiting for someone else to confirm it's doable (or not).

hgt

LBG Regular Savers

The Moneyfacts site seems to suggest that all these accounts are available as Joint accounts. I think this is incorrect as the Lloyds / Halifax / BoS websites seem to suggest the account is available in your sole name only.

I know they used to allow Joint RS accounts as I have an existing Club Lloyds Monthly Saver which is joint, I think this is another feature which has quietly been dropped.

MaxBlax

https://forums.moneysavingexpert.com/discussion/comment/82068710#Comment_82068710

Whilst losing a 5.25% £250pcm RS was a risk I was willing to take, losing a 6.25% £400pcm RS is not a risk I am willing to take

Rob_Wills

Moneyfacts are showing Lloyds and Bank of Scotland offering 8% on a Regular Saver Fixed Rate Bond (change to "Rate" order in the link) - https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts - BUT I can't find it on the banks websites AND yesterday, speaking with Lloyds, they have denied the accounts exist?

MaxBlax

https://forums.moneysavingexpert.com/discussion/comment/82068724#Comment_82068724

https://www.lloydsbank.com/savings/club-lloyds-monthly-saver.html

https://www.lloydsbank.com/savings/monthly-saver.html

https://www.bankofscotland.co.uk/savings/accounts/monthly-saver.html

huw01

Halifax

Just renewed my existing regular saver into an everyday saver and managed to open a new regular saver at 8% are logging out and back in again. Funded the first month from the matured proceeds in the everyday saver. All ok

Lloyds

I don't have a current account with Lloyds as I used it to switch some time ago, I don't have any active account with them but I still have my online login details. I have just opened a club regular saver at 8% and funded the first month from the matured proceeds in the Halifax everyday saver.

Bank of Scotland

I have an existing regular saver that is around three months old. I'm guessing from previous responses that I can't renew and do the same as Halifax, although there is a renew button in BoS internet banking