The Top Regular Savers Discussion Thread

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82100986#Comment_82100986

The estimated balance calculation is, as you mention, based on opening and funding on the 1st of each month. I think what @Slinky wanted to know was the maximum possible interest with optimal funding strategy etc.

It's difficult to calculate exactly, what with different length months, whether you can fund on non-working days, etc.

As a rough guide, use the provider's "expected balance" as a starting point. Accounts like First Direct which work on a "monthiversary" basis will be pretty close to that value. For all other accounts, my crude calculations suggest that opening as late as possible in the month then funding on the 1st for each subsequent month could gain you 14-15%. For accounts which don't process your deposits on a non-working day, bring your estimate down a touch as you won't always be able to fund on the 1st each month. But it'll differ from year to year.

As for 13th payments, you'll clearly get more interest overall compared to the standard 12, but you'll have deposited more too, so it's harder to make a direct comparison.

Slinky

Thanks Bridlington for considering my suggestion.

When I mentioned perfect, what I meant was a maximum contribution record, not the strategy of wringing out every last groat and farthing!

Without knowing until mentioned above about the Regular Savings Calculator, (which seems to be buried somewhere not obvious on the website!), I made rough calculations for 12 months by multiplying total contribution, by percentage interest rate, and dividing by 2, which will do me for now until I can run everything through the RSC.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82100986#Comment_82100986

They probably must because this piece of information is always present in “key facts”. I always skip this section. It doesn’t help with making a decision whether to apply for an account or not and I don’t like counting money that I have not yet earned😀

Joseph1215

https://forums.moneysavingexpert.com/discussion/comment/82100957#Comment_82100957

I got locked out yesterday using a mobile phone. No room on the screen for the code boxes. I tried on a laptap this morning and it was fine. Only seems to happen with Beverley, although they use the same portal as a lot of others.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82100986#Comment_82100986

Indeed, if you look at total interest earned a 5% RS with a £500/mth max deposit is more valuable over a year than a 10% RS with a £50/mth max deposit, but in my case the 10% RS would be much more valuable as the vast majority of my savings are at 6%+ anyway.

https://forums.moneysavingexpert.com/discussion/comment/82101043#Comment_82101043

No worries, for a slightly more accurate figure for the 12 months, instead of dividing by 2, you could multiply by 13/24.

At the end of the day though even if the method of calculating the figure was universally agreed, the rest of my reasons would still stand.

Any further suggestions though feel free to let me know, as others will testify I do implement some suggestions, and a lot of thought has to go into any decision to implement it.

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82101043#Comment_82101043

When I open a new RS I set up a table in a spreadsheet to give what I think is as close an approximation as possible of the likely interest the RS will generate. It gives me an idea of how much I might have to shift (manipulate) if I get close to the £10K self-assessment threshold over all of my RSs and other taxable saving account interests. It also helps to plan ahead with funding ongoing RS (or other) from the proceeds of recently matured RSs.

I take into account whether I pay the first two payments (e.g. 29th and then 1st of next month manually from funds generated from the previous maturing RS) and also the days any following Standing Orders will go out, including when SOs are shifted due to weekends and Bank Hols. The table can easily cope with rate changes and either 12 or 13 payments or any other combination of, for example 6, 10, 15, 18 or 24 months. It also copes with generating a broad estimate of the interest generated from the funding remaining in the EA holding account. All done by simple copy and paste from previously generated tables to reduce the work required.

The point of all this preamble is to say …. even though I try to take into account all the factors that might influence the final interest payment … my prediction, seldom, if ever, matches the actual interest generated! Sometimes it's within pennies (Great!), sometimes it's quite a few quid out(?).

For @Bridlington1 to put one figure to represent the interest generated from just one set of many variable factors for each RS would be almost pointless, except for a small proportion of those holding that account and funding under those conditions.

I do the calculations because I only hold around 24 RSs (i.e. try to organise 2 maturing each month … but with some variations) … could you imagine the work required to generate the interest for the number of RSs @Bridlington1 lists in his extensive tables … and keep it up to date!!

Slinky

https://forums.moneysavingexpert.com/discussion/comment/82101092#Comment_82101092

It was only the figure that the BS estimates themselves that I was looking for, but no matter, it's not happening.

My circumstances have changed and I need to track estimated future income better than I have been in the past.

Born2Save_3

https://forums.moneysavingexpert.com/discussion/comment/82101077#Comment_82101077

Thank you. 13/24, or 0.542 rounded up, is the magic number. Better than just a bit more than half, I've been using.

Stargunner

https://forums.moneysavingexpert.com/discussion/comment/82100940#Comment_82100940

Silly me, I thought this was relating to the Earl Shilton RS, but you will only be losing out on less than £2 of interest

Chaykin

Newcastle BS

Anyone knows if they do enforce their maximum balance rules like Skipton and Monmouthshire? Or don't like Principality? (a.k.a. 13th payment)

Earl Shilton BS

Applied Monday 10/08/2026 around 8:00 PM but still no account details. I know they said up to three working days but can't this (almost) smallest BS in the country get a move on?! 😉 To be honest I'm amazed the account is still being offered!

Monmouthshire BS

Both my App Exclusive Regular Saver and Branch Exclusive Regular Saver mature this month. That's £18,000.00 not including interest. There must be quite a few other people like me with these accounts maturing soon. Do we think the total amount of money maturing and, most likely, being moved away from the society will be noticed by the brass and maybe they'll offer a nice new account to keep some of their cash assets?

Tipton BS

Thank you so much to the first poster who suggested emailing them an application for 125 Anniversary Regular Saver. All I ever had with them was the Regular Saver to 31 July 2024 which was £500/month and 5.5%. This was closed and money moved away straight after it matured in 2024. I had no account with them since however I still had the app and I logged into it every few months - just to make sure it works. I applied for the new account by email on the off chance and was pleasantly surprised when it appeared in my app the next day after emailing! I'm not in the listed postcode areas.