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The Top Regular Savers Discussion Thread
Comments
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The Principality rate is brutal (£125 @ 7% to £150 @ 6.5% last time around was disappointing) but I guess they can’t be blamed for planning for an extra tax at the present time. At least they do offer a fixed rate, unlike Skipton who were fixed, then base rate tracking and now just variable. I have a convenient date in the not too distant future to open it so will do so, as it is fair to say that far more are maturing than being launched. Open ended RS are filling up nicely at the moment, having seen little use for a year or more. It’ll be the first time in a long time I have opened a Principality account and not maxed it out.
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Progressive
Does anyone have any experience with a maturing account with The Progressive? I have one maturing tomorrow.
Do they process withdrawal (and closure) requests the same day? With money arriving in your nominated account the same day?
When do they pay interest? Date of maturity?
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Progressive RS
Matures to an Easy Access account.
Closure with interest, if requested, is processed same day. Do it in the morning and funds in nominated account by the afternoon.
Do Money Saving sites make you buy more bargains - and spend more money?3 -
Can closure be requested online? Telephone?
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I did mine online.
Do Money Saving sites make you buy more bargains - and spend more money?1 -
I did mine on the telephone.
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Progressive - mine matured yesterday but I didn't get round to requesting closure until 6.20pm. I did this online and I didn't have my nominated bank account set up, but it took just a whatsapp code to sort after I filled in the details. The funds were in my Lloyds account before 12 lunchtime today. xxx
Just editing to add that for some reason I can only log in to Progressive in incognito mode, but that's probably just me!
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Skipton's 5.75% (members) is not the worst by any means though, and there's always a chance of something in the monthly prize draw. Eight prizes I didn't win this month. Wouldn't say no to a 1k - and for 25k would even pose for their promotion photo.
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Skipton's rate is still decent. Due to current circumstances (property purchase) my savings are considerably less than this time last year, so anything under 6% I wouldn't usually bother with. I've got a few years' membership under my belt with Skipton though, therefore more prize draw entries, so I've bunged £100 into the regular saver to qualify for the prize draw. Might be able to get a smidge more interest elsewhere, but I get the chance (albeit small) of a nice cash prize every month.
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BOE Base Rate possibilities and updates
Just to give everyone a heads up, if the BOE Base Rate does change (up or down) on Bonfire Night I shall once again be compiling a list of RS rate changes.
Bonfire Night will happen to be a night when I don't have my laptop with me, therefore updates to p1 of this thread shall not happen on Thursday 5th November for one day only, I'll update p1 of this thread and the archived thread when I have my laptop late on 6th November.
Apologies for any inconvenience this may cause.
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