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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,134Posts
    • 4,350Thanks
    Special_Saver2
    Regular Saver Thread **New and Restarted**
    • #1
    • 27th Nov 07, 10:33 PM
    Regular Saver Thread **New and Restarted** 27th Nov 07 at 10:33 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 11:24 PM.
Page 69
    • Frogletina
    • By Frogletina 1st Oct 18, 9:07 PM
    • 3,105 Posts
    • 11,287 Thanks
    Frogletina
    I have just opened Virgin regular saver 13 at the branch. Available from 2 today
    My account was opened by 2.05. 3%

    frogletina
    Originally posted by Frogletina
    Was it you in that tent outside since last week?
    Originally posted by schiff

    Frogletina surely must be a contact on Branson's phone?
    Originally posted by schiff
    I went into the local store to close my Regular saver 6 this afternoon which I did. I was told that Regular saver 13 was due at 2.00. It was suggested I could wait in the reception until then, and as soon as it hit the computer screen my application was placed.

    I love the staff at my local branch

    frogletina
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first
    SPC 8 #441 £1567.31 SPC 9 #441 £1014.64 SPC 10 #441 £1164.13 SPC 11 #441 £1598.15 SPC 12 #63
    • isasmurf
    • By isasmurf 2nd Oct 18, 9:36 AM
    • 1,760 Posts
    • 785 Thanks
    isasmurf
    No need to panic. There's no general change to the Santander RS. It's merely that someone's RS is maturing and they are a bit confused over whether and how to continue with an RS, and with how interest on RSs work in general. Just ignore them. There's no general change to the Santander RS happening on Tuesday.
    Originally posted by colsten
    Santander Regular e-Saver Issue 7 launched - 3% exclusively for 123 World, Select or Private Banking customers
    • karlie88
    • By karlie88 2nd Oct 18, 9:47 AM
    • 8,714 Posts
    • 107,911 Thanks
    karlie88
    Santander Regular e-Saver Issue 7 launched - 3% exclusively for 123 World, Select or Private Banking customers
    Originally posted by isasmurf
    I knew it! I was one of the first people to highlight this from the OP: https://forums.moneysavingexpert.com/showthread.php?p=74845287#post74845287

    Something didn't seem right. The 'deal' was the rate, not how the OP was going to renew their RS.

    Started a new thread to save SS2 a headache as this will no doubt spark some conversation on this thread: https://forums.moneysavingexpert.com/showthread.php?t=5903353
    Official MSE canny forumite and HUKD VIP badge member
    • molerat
    • By molerat 3rd Oct 18, 1:36 PM
    • 19,710 Posts
    • 13,912 Thanks
    molerat
    Is there any restriction to open this new RSA in addition to e-Saver i6 ?
    Originally posted by adindas
    Seems to cover it
    You can only have one Regular eSaver per customer,
    https://www.helpforheroes.org.uk/give-support/donate-now/
    • Fingerbobs
    • By Fingerbobs 4th Oct 18, 7:24 PM
    • 503 Posts
    • 141 Thanks
    Fingerbobs
    Is it really necessary to make an appointment to open a Virgin account, or will they let me open one if I just turn up at the branch?
    • xylophone
    • By xylophone 4th Oct 18, 7:37 PM
    • 27,640 Posts
    • 16,607 Thanks
    xylophone
    Is it really necessary to make an appointment to open a Virgin account, or will they let me open one if I just turn up at the branch?
    You might be lucky.....or you might have a wasted trip....
    • EachPenny
    • By EachPenny 4th Oct 18, 8:53 PM
    • 8,604 Posts
    • 23,291 Thanks
    EachPenny
    Virgin
    Is it really necessary to make an appointment to open a Virgin account, or will they let me open one if I just turn up at the branch?
    Originally posted by Fingerbobs
    It all depends on the staff and how busy the branch is when you turn up.

    If this is your first time with Virgin then I'd make an appointment, they will need to go through everything with you and that does take some time.

    After the third or fourth account they might be happy to assume you know the T&C's already and process the account opening while you pretend you are reading the summary sheet That takes a lot less time and they might be able to squeeze you in between other customers.

    Which is what happened to me today

    Also, make sure you have the necessary ID, it is one of the things they are quite insistent about, and not just the first time you go.
    "In the future, everyone will be rich for 15 minutes"
    • Fingerbobs
    • By Fingerbobs 4th Oct 18, 10:26 PM
    • 503 Posts
    • 141 Thanks
    Fingerbobs
    It all depends on the staff and how busy the branch is when you turn up.

    If this is your first time with Virgin then I'd make an appointment, they will need to go through everything with you and that does take some time.

    After the third or fourth account they might be happy to assume you know the T&C's already and process the account opening while you pretend you are reading the summary sheet That takes a lot less time and they might be able to squeeze you in between other customers.

    Which is what happened to me today

    Also, make sure you have the necessary ID, it is one of the things they are quite insistent about, and not just the first time you go.
    Originally posted by EachPenny
    Thanks for that. It won't be my first Virgin account (I've had several, and still have an active ISA with them), but will be the first branch-based one so safest to have an appointment by the sounds of it.

    Reason for asking is that I'm travelling on business next week and was hoping to make a small detour to hit a Virgin branch en-route. My nearest branch is an hour's drive away, so I was hoping not to have to make a special trip.
    • soulsaver
    • By soulsaver 4th Oct 18, 11:50 PM
    • 2,143 Posts
    • 992 Thanks
    soulsaver
    Thanks for that. It won't be my first Virgin account (I've had several, and still have an active ISA with them), but will be the first branch-based one so safest to have an appointment by the sounds of it.
    Originally posted by Fingerbobs
    Note Each Penny's comment re ID - even if you have on-line acs they'll need to verify ID for face to face opening... maybe regulatory, but definitely VM policy.
    • eskbanker
    • By eskbanker 5th Oct 18, 12:24 AM
    • 8,683 Posts
    • 9,894 Thanks
    eskbanker
    If this is your first time with Virgin then....
    Originally posted by EachPenny
    ....that would presumably make you a Virgin virgin!
    • patientperson
    • By patientperson 5th Oct 18, 3:52 PM
    • 478 Posts
    • 426 Thanks
    patientperson
    Swansea BS Regular Saver
    Note for Special_Saver

    Interest rate increased to 2.75%.

    https://swansea-bs.co.uk/building-society-savings-accounts/regular-saver
    • Special_Saver2
    • By Special_Saver2 6th Oct 18, 1:39 AM
    • 1,134 Posts
    • 4,350 Thanks
    Special_Saver2
    Hi Folks,

    Here is this weekend's update.

    - Santander Regular eSaver updated from issue 6 to issue 7 (3% only for Select or 123 World or Private Banking customers only)

    - Swansea BS Regular Saver interest rate increased from 2.5% to 2.78% AER

    - Virgin Money Regular Saver updated to issue 13

    I will do another update next weekend.

    SS2
    -----------------------------------------------------------------
    For those new to this thread, the first few posts are constantly updated and are on the first page
    • glider3560
    • By glider3560 8th Oct 18, 7:47 PM
    • 3,692 Posts
    • 2,377 Thanks
    glider3560
    My Leeds Building Society Issue 9 is maturing at the end of this month. I never got a passbook. Does anyone know how you give the maturity instructions?

    When my Issue 3 matured, I had to write asking for a cheque. Have they improved things since then?

    • bubieyehyeh
    • By bubieyehyeh 8th Oct 18, 8:19 PM
    • 419 Posts
    • 123 Thanks
    bubieyehyeh
    My Leeds Building Society Issue 9 is maturing at the end of this month. I never got a passbook. Does anyone know how you give the maturity instructions?

    When my Issue 3 matured, I had to write asking for a cheque. Have they improved things since then?
    Originally posted by glider3560

    For one that matured a month or so ago they send me a letter, setting out options, and include a website address where I could select how much of maturity balance and account details to send it to.
    • Westie983
    • By Westie983 8th Oct 18, 8:41 PM
    • 4,633 Posts
    • 15,167 Thanks
    Westie983
    Virgin Issue 13 opened today - welcomed by name and was in and out in 10 mins, very good

    Westie983
    Save 12k in 2019 #10 Total (£16000)+£0/£12000 = 0.0%
    Sealed Pot Challenge ~ 12 #97 Total (£450)+£1/£500 = 0.20% ( x 11)
    Xmas 2018 £1 a Day #2 Total (£165)+£0/£365 = 0.00%
    Virtual Sealed Pot #1 Total (£1300)+£0/£1000 = 0.00%
    £2 Savers Club 2018 #16 Total (£1030)+£0/£2000 = 0.0%

    Total £1.00/£15865 = 2.00%
    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
    • karlie88
    • By karlie88 9th Oct 18, 10:30 AM
    • 8,714 Posts
    • 107,911 Thanks
    karlie88
    My Leeds Building Society Issue 9 is maturing at the end of this month. I never got a passbook. Does anyone know how you give the maturity instructions?

    When my Issue 3 matured, I had to write asking for a cheque. Have they improved things since then?
    Originally posted by glider3560
    This is the online form: https://www.leedsbuildingsociety.co.uk/savings/maturity/forms/

    But I'd wait until you get a letter from them.
    Official MSE canny forumite and HUKD VIP badge member
    • george4064
    • By george4064 9th Oct 18, 11:08 AM
    • 1,051 Posts
    • 1,098 Thanks
    george4064
    Hi Folks,

    Here is this weekend's update.

    - Santander Regular eSaver updated from issue 6 to issue 7 (3% only for Select or 123 World or Private Banking customers only)

    - Swansea BS Regular Saver interest rate increased from 2.5% to 2.78% AER

    - Virgin Money Regular Saver updated to issue 13

    I will do another update next weekend.

    SS2
    -----------------------------------------------------------------
    For those new to this thread, the first few posts are constantly updated and are on the first page
    Originally posted by Special_Saver2
    Thanks for the update
    "If you arenít willing to own a stock for ten years, donít even think about owning it for ten minutesĒ Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
    Save £12k in 2017 - #003 £12,427.51/£12,000 (104%)
    Save £12k in 2018 - #004 £5,529/£12,000 (46%)
    • surreysaver
    • By surreysaver 9th Oct 18, 12:05 PM
    • 2,601 Posts
    • 1,501 Thanks
    surreysaver
    This is the online form: https://www.leedsbuildingsociety.co.uk/savings/maturity/forms/

    But I'd wait until you get a letter from them.
    Originally posted by karlie88
    I had one mature in June / July. I think I sent them a secure message.
    I consider myself to be a male feminist. Is that allowed?
    • veryintrigued
    • By veryintrigued 10th Oct 18, 7:13 AM
    • 2,599 Posts
    • 2,161 Thanks
    veryintrigued
    Leeds BS Regular Saver 20
    Apologies if already highlighted - can't see it on the first page.

    http://www.leedsbuildingsociety.co.uk/savings/regularsaver/
    • patientperson
    • By patientperson 13th Oct 18, 11:20 AM
    • 478 Posts
    • 426 Thanks
    patientperson
    Chorley BS - New Loyalty Santa Saver 1
    Details of this account sent with maturity instructions relating to my Member Festive Fund account.

    Limited Issue. Existing members only of 12 months or more.

    Rate 2.50% - maximum pm £350 - maturity 31/10/2019.

    Nothing on their website this morning
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