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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 9:33 PM
    • 1,163Posts
    • 4,762Thanks
    Special_Saver2
    Regular Saver Thread **New and Restarted**
    • #1
    • 27th Nov 07, 9:33 PM
    Regular Saver Thread **New and Restarted** 27th Nov 07 at 9:33 PM
    1. Introduction

    Welcome to this thread. I continually edit the first few posts of this thread to keep it up-to-date. This thread is meant to complement Martin Lewis' article which you can read here: Regular Savings Accounts and the accompanying discussion thread Regularly Beat the Best Savings Account Rates Discussion Area

    I am happy for people to use this thread to discuss the regular savings accounts on this list. If people want to discuss one of the feeder accounts or a maturing account that is no longer on this list, I am happy for people to post something on this thread (as it may be of interest to some of the people who follow this thread), although I would prefer they start a new thread and then post a message on this thread with a link to the new thread.

    I am only including accounts where the interest rate is 2.5% or better, or 1.5% if there are particularly favourable terms and conditions (e.g. fixed rate, no maturity date, allow payment of £500 or more per month, or have unlimited withdrawals without penalty).

    I have not included regular saver ISA accounts which you can find in Kazza242's thread here: Mini Cash ISAs: The Best ISAs Currently Available List

    I have included children's regular savers but I would strongly recommend that you read the section about the tax implications
    for interest from children's accounts in Martin's article Best Child Savings.

    If you are not sure whether the best place for your money is in a regular savings account or another type of savings account then look at Martin's article How to Start Saving. If you want to see a worked example of how to use these accounts to save the maximum possible, see the thread What is the Highest Interest Rate You Can Get?

    If you have information about a new regular saver account then please feel free to post a message on this thread or you can write a separate thread and then post a link here. Please try and limit discussion on this thread to regular savings accounts.

    If you want to bookmark a link that allows you to jump straight to the end of this thread then use this: http://forums.moneysavingexpert.com/showthread.php?t=5776240&page=9999

    If you want to receive automatic alerts when new posts are added to this thread then use the following instructions. Login, go to the top of any page in this thread, click "Thread tools" then click on "Subscribe to this thread" and then select whether you want to be notified as soon as there is a new post (you will receive an e-mail telling you to go to the website for more details) or select daily or weekly updates (you will receive an e-mail daily / weekly with a handy summary of all the new posts).

    You may also be interested in the following threads:
    How can regular savings accounts offer such good interest rates?
    Are Regular Savers still worth it? (Calculations and discussion regarding drip feeding lump sums into regular savings accounts)
    Is there a best time of the month to deposit in Regular Savers?
    Transfers from Barclays to regular savings accounts
    Interest on BACS credits
    Direct Debit Payments
    A-Z of bank/building society sort codes/account nos
    Account opening date and 13th payments

    Websites with useful information include:
    Moneyfacts.co.uk News Page
    Moneyfacts.co.uk Regular Savings Accounts Page

    Moneyfacts.co.uk Savers Friend Regular Savings Account Page (looks nicer than the page above and has more accounts listed)

    Moneyfacts.co.uk Children's Savings Accounts Page
    Moneysupermarket.com Regular Savings Accounts Page

    (you need to choose the right hand option on that page to view all regular savings accounts)
    Savings Champion Regular Savings Account Page

    Thanks to numerous forum users
    for their contributions (useful posts either directly on this thread or on another thread that I have then incorporated here).

    I have divided up the information here into several different sections. You can therefore easily skip any sections that you are not interested in.

    Unless indicated otherwise, you can only open one of each account.


    I have included a summary of the terms and conditions of each account as these can be complicated with regular savings accounts. I would advise you to look at these terms and conditions to check that the account is suitable for you.

    You might find some references to the "old version of this thread" in the first page of this thread. This thread is the 3rd version of my regular savings thread. The first thread was closed at my request as the information grew beyond the character limit of the few posts that I had placed on the first page. I then created the 2nd version on 27th November 2007. The second version was very popular with many pages of useful posts and over 1 million views. This was the popular "old version of this thread" referred to above. At the beginning of 2018 that thread was somehow accidentally deleted but the moderators were able to create a new thread (this 3rd version) and reproduce the first page of my 2nd version thread.


    2. No Time Limit / Account Maturity Date

    The advantage of these accounts is that you can build up a large balance which all earns a high rate of interest. You also avoid the hassle of continually opening and closing accounts and setting up new standing orders for each new account. The terms and conditions are also generally good - they generally allow you to make a penalty-free withdrawal and miss a payment each year. The disadvantage of these accounts is that there is no guarantee that the rate will remain high and often these accounts have a balance limit. If the interest rate drops after 12 months then I include the account in post 4 instead.


    3. Matures After More Than 12 Months

    The interest rate drops significantly after the date specified.

    4. Matures After 12 Months

    These accounts usually offer higher interest rates and they often offer interest rates that are fixed for the full 12 months. The main disadvantage with these accounts is that after 12 months the interest rate usually drops significantly. The terms and conditions can also be quite restrictive, so read them carefully.

    5. Matures After 12 Months, Requires Another Account

    These accounts are similar to the above accounts but they require you to open another account (usually a current account, which often has a funding requirement). They are more hassle than the accounts in section 4 but usually have a higher interest rate in return.

    6. Matures After 12 Months, Requires Another Product (Insurance or Investment)

    These accounts usually also offer a short term, high interest rate but they require you to make a long term investment or take out an insurance product.


    7. Matures After Less Than 12 Months

    These accounts are usually Christmas Saver accounts designed to encourage saving in time for Christmas.

    8. Homebuyer Accounts

    Okay, these accounts will not be of much use to you unless you are going to buy a house but they may be of use to some of you out there.

    9. Best Feeder Accounts

    These are accounts where you can leave a large lump sum and drip feed the money into your regular savers each month. Certain accounts are not listed here as they cannot transfer money directly to regular savings accounts. The accounts listed can do BACS transfers to regular savings accounts directly. Alternatively, if you have an offset mortgage, you might be able to use that as a feeder account but it is only worth doing so if the interest paid (after tax) on the regular saver account is higher than the interest rate on your mortgage account.
    Last edited by Special_Saver2; 05-08-2018 at 10:24 PM.
Page 3
    • Westie983
    • By Westie983 25th Jan 18, 6:47 AM
    • 4,755 Posts
    • 15,362 Thanks
    Westie983
    Scary that you have nothing maturing in November... what are you going to do for money that month?

    Mine are more 'lumpy'. I have up to four maturing in some months, others there's nothing, but when I opened them it was a case of opening them asap to start earning, rather than having a more even spread.

    At the current rate hopefully I'll have drawn down several interest paying current accounts before the Tesco DD issue kicks in.
    Originally posted by EachPenny
    It will be okay as Ill have two maturing 1st December :-P

    Westie983
    Save 12k in 2019 #42 Total (£16000)+£1550/£12000 = 12.91%
    Sealed Pot Challenge ~ 12 #97 Total (£450)+£55/£500 = 11.00% ( x 11)
    Xmas 2019 £1 a Day #20 Total (£165)+£100/£365 = 27.39%
    Virtual Sealed Pot #1 Total (£1300)+£300/£1000 = 30.00%
    £2 Savers Club 2018 #16 Total (£1030)+£0/£2000 = 0.0%

    Total £2005.00/£15865 = 12.63%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Westie983
    • By Westie983 25th Jan 18, 6:50 AM
    • 4,755 Posts
    • 15,362 Thanks
    Westie983
    This thread has turned into the 'chatty Regular Saver thread' rather than just highlighting genuine new issues or changes.

    Let's hope it doesn't get marked as Spam and disappear again!
    Originally posted by veryintrigued
    Fingers crossed that wont happen.

    A good point made though about the comments, but it can still be a thread for changes when Special Saver is back online.

    Westie983
    Save 12k in 2019 #42 Total (£16000)+£1550/£12000 = 12.91%
    Sealed Pot Challenge ~ 12 #97 Total (£450)+£55/£500 = 11.00% ( x 11)
    Xmas 2019 £1 a Day #20 Total (£165)+£100/£365 = 27.39%
    Virtual Sealed Pot #1 Total (£1300)+£300/£1000 = 30.00%
    £2 Savers Club 2018 #16 Total (£1030)+£0/£2000 = 0.0%

    Total £2005.00/£15865 = 12.63%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Kim_13
    • By Kim_13 25th Jan 18, 7:27 AM
    • 1,901 Posts
    • 2,037 Thanks
    Kim_13
    It appears that it's no longer possible to get a card for the Flex Regular Saver account. I applied for it from outside online banking as I did last year (when I had a card) but the account I have been given is in the xxxx/xxxxxxxxx format rather than sort code and account number. Also, I can't find any mention of cards on the Flex Regular Saver page any longer.

    I will send them a secure message to ask for a card but I'm not hopeful.
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00
    • ColdIron
    • By ColdIron 25th Jan 18, 8:36 AM
    • 5,317 Posts
    • 7,283 Thanks
    ColdIron
    It appears that it's no longer possible to get a card for the Flex Regular Saver account.
    Originally posted by Kim_13
    Are you mixing up the old Regular Savings with the Regular Saver which is a different product line. I had a card with a sort code and account no for my old Regular Savings account but all my previous Regular Saver accounts (since 2015) were in the format xxxx/xxxxxxxxx and no card
    • Kim_13
    • By Kim_13 25th Jan 18, 4:15 PM
    • 1,901 Posts
    • 2,037 Thanks
    Kim_13
    Are you mixing up the old Regular Savings with the Regular Saver which is a different product line. I had a card with a sort code and account no for my old Regular Savings account but all my previous Regular Saver accounts (since 2015) were in the format xxxx/xxxxxxxxx and no card
    Originally posted by ColdIron
    No, the first Regular Saver I had with Nationwide was Jan 16. That one took the xxxx/xxxxxxxxx format as I opened it from online banking. During the period of holding that account, I found via MSE that a workaround to get a card was to apply from outside of online banking. I duly did this upon maturity in Jan 17 and my new account was in the sort code and account number format with a card issued.

    I've had an email to say there's a response to my secure message, so I'll update later when I have my card reader to hand. It may be that it's something that's quietly changed between issue 1 and issue 2, as that's the only thing that's different to last year.

    Edit: Their response has confirmed it's as I expected. Issue 1 did offer cards but Issue 2 doesn't have this facility.
    Last edited by Kim_13; 25-01-2018 at 5:19 PM.
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00
    • pwhitf
    • By pwhitf 25th Jan 18, 6:12 PM
    • 52 Posts
    • 12 Thanks
    pwhitf
    Ashen the £200 will be returned to the originating account from Saffron. I have done this before and it usually takes a couple of days.
    • focae
    • By focae 26th Jan 18, 12:19 AM
    • 146 Posts
    • 83 Thanks
    focae
    Ipswich BS Smart Save (Issue 2) is now at 2.85% including bonus
    • glider3560
    • By glider3560 26th Jan 18, 6:15 AM
    • 3,811 Posts
    • 2,486 Thanks
    glider3560
    Ipswich BS Smart Save (Issue 2) is now at 2.85% including bonus
    Originally posted by focae
    Also Issue 1 is up to 3.35% from 3.25%. The website doesn't give a date this is effective from and I received no notification from Ipswich BS.

    • nomorekids
    • By nomorekids 26th Jan 18, 7:08 AM
    • 335 Posts
    • 272 Thanks
    nomorekids
    Principality 4% Regular Saver can be opened by post. I did
    If you want to be rich, most definitely never, ever have kids
    • soulsaver
    • By soulsaver 26th Jan 18, 9:21 AM
    • 2,368 Posts
    • 1,157 Thanks
    soulsaver
    Principality 4% Regular Saver can be opened by post. I did
    Originally posted by nomorekids
    Except...
    " Only available to Members who’ve been with us for two years or more, this bond, with a one year term, offers regular saving at an exclusive rate to reward loyal savers and mortgage customers."
    • aj23
    • By aj23 26th Jan 18, 9:27 AM
    • 1,112 Posts
    • 353 Thanks
    aj23
    This is amazing. Thank you. You should do the same for Help to Buy ISAs.
    • Viking_mfw
    • By Viking_mfw 26th Jan 18, 9:42 AM
    • 133 Posts
    • 559 Thanks
    Viking_mfw

    Principality 4% Regular Saver can be opened by post. I did
    Originally posted by nomorekids
    ”Except...
    " Only available to Members who’ve been with us for two years or more, this bond, with a one year term, offers regular saving at an exclusive rate to reward loyal savers and mortgage customers."
    Do they do these regularly? Seriously considering opening one of their instant access e-savers to be my holding account (pays the same as my current one) to get access to a future issue. Plus I really like the sound of a building soc that rewards loyalty instead of ignoring customers...
    • aj23
    • By aj23 26th Jan 18, 9:46 AM
    • 1,112 Posts
    • 353 Thanks
    aj23
    Do they do these regularly? Seriously considering opening one of their instant access e-savers to be my holding account (pays the same as my current one) to get access to a future issue. Plus I really like the sound of a building soc that rewards loyalty instead of ignoring customers...
    Originally posted by Viking_mfw
    Do you have to live within their post code boundary?
    • Steve_xx
    • By Steve_xx 26th Jan 18, 9:47 AM
    • 6,672 Posts
    • 2,812 Thanks
    Steve_xx
    Do you have to live within their post code boundary?
    Originally posted by aj23
    Seemingly not. The two year rule is the only one I can see.
    • aj23
    • By aj23 26th Jan 18, 9:53 AM
    • 1,112 Posts
    • 353 Thanks
    aj23
    Seemingly not. The two year rule is the only one I can see.
    Originally posted by Steve_xx
    I don't live near a branch anyway so wouldn't be able to open one via another account. But 4% on £250 is a good deal.
    • aj23
    • By aj23 26th Jan 18, 10:44 AM
    • 1,112 Posts
    • 353 Thanks
    aj23
    Saffron BS 12 Month Fixed Rate Regular Saver (Issue 3)

    It says "To open this account you need to have held a savings account or mortgage with Saffron BS for at least 6 months." but I opened one without holding any previous Saffron products. It's open to anyone in the country, as long as you open it in branch.
    • EachPenny
    • By EachPenny 31st Jan 18, 5:21 PM
    • 10,736 Posts
    • 31,538 Thanks
    EachPenny
    Virgin RS Issue 2
    A reminder that the Virgin Regular Saver Issue 2 (Store) is due to mature tomorrow - just in case anyone has forgotten.
    "In the future, everyone will be rich for 15 minutes"
    • Hattie625
    • By Hattie625 31st Jan 18, 5:58 PM
    • 859 Posts
    • 746 Thanks
    Hattie625
    My (second) TSB Monthly Saver (2% fixed) matures on 23 February. I see that the current offer for a new Monthly Saver is still 2% fixed, despite the Base Rate rise in November. Last year, this was a reasonable rate for an account of this type but current offerings are better. I have all the usual high interest RS's and current accounts, so it wouldn't be a case of taking out an alternative. I am thinking of not taking out a new TSB MS immediately but waiting to see if the offered rate goes up.Just wondered if anyone has done similar or has any views on this?
    • ColdIron
    • By ColdIron 31st Jan 18, 6:07 PM
    • 5,317 Posts
    • 7,283 Thanks
    ColdIron
    I am thinking of not taking out a new TSB MS immediately but waiting to see if the offered rate goes up.Just wondered if anyone has done similar or has any views on this?
    Originally posted by Hattie625
    Mine ended earlier this month and I haven't bothered to open another one. I've got a Tesco saver at 1.35% and the MSE Regular Savings Calculator tells me I'd only be a tenner better off by opening the TSB RS for a year. If they up the rate I will reconsider. Not very MSE of me but there comes a point where I cba
    • Westie983
    • By Westie983 31st Jan 18, 6:34 PM
    • 4,755 Posts
    • 15,362 Thanks
    Westie983
    I never reopened mine when it ended, as the rate dropped, I used the money to fund FD and HSBC RS instead, and the excess is put into virgin RS.

    If you have nowhere else, then cant see why not, but you maybe better in an account with access at a slightly lower rate like Tesco instead of refunding TSB.

    Westie983
    Save 12k in 2019 #42 Total (£16000)+£1550/£12000 = 12.91%
    Sealed Pot Challenge ~ 12 #97 Total (£450)+£55/£500 = 11.00% ( x 11)
    Xmas 2019 £1 a Day #20 Total (£165)+£100/£365 = 27.39%
    Virtual Sealed Pot #1 Total (£1300)+£300/£1000 = 30.00%
    £2 Savers Club 2018 #16 Total (£1030)+£0/£2000 = 0.0%

    Total £2005.00/£15865 = 12.63%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
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