Regular Savings Accounts: The Best Currently Available List!

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  • Gem-gem
    Gem-gem Posts: 4,395
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    I've just opened up. 4% Kent reliance regular saver. Had one last year. Had no trouble with them.
    (I used to have a hSBC 6% one but I can't access that sort of rate anymore as I no longer wish to pay for and account).
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  • Archi_Bald
    Archi_Bald Posts: 9,681
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    Gem-gem wrote: »
    I've just opened up. 4% Kent reliance regular saver. Had one last year. Had no trouble with them.
    (I used to have a hSBC 6% one but I can't access that sort of rate anymore as I no longer wish to pay for and account).

    You do not have to pay for the HSBC Advance account, a pre-req for their 6% regular savings account. See the thread on HSBC Advance (and also the one on HSBC Save Together might be of interest to you).

    Have you maxed the FD and M&S 6% accounts?
  • Gem-gem
    Gem-gem Posts: 4,395
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    edited 8 March 2015 at 9:53PM
    Archi_Bald wrote: »
    You do not have to pay for the HSBC Advance account, a pre-req for their 6% regular savings account. See the thread on HSBC Advance (and also the one on HSBC Save Together might be of interest to you).

    Have you maxed the FD and M&S 6% accounts?

    I'm afraid that I haven't got an account with these two, so didn't think that I could do open one. Opted for nationwide account where I have been earning 5% on £2500. It finishes next month.
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  • Special_Saver2
    Special_Saver2 Posts: 1,404
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    IanManc wrote: »
    Many other providers of no-fixed-end-date regular savings accounts have issues of their accounts which are no longer on sale. Some maintain their high interest rates, while others might whittle them down over time, but I can't remember any institution before that has closed down no-fixed-end-date regular savers and transferred the balances to different type of account paying a much lower interest rate. I think that's why the actions of the Leeds are attracting such criticism.

    I agree with the comments above. I think Monmouthshire Building Society might be in the same category. Didn't forum users report that they closed their long term Saver Plus (issue 1) account? I used to have that account and the Leeds BS issue 1 account but I closed both a long time ago when the interest rates dropped and they became relatively uncompetitive.

    This is in contrast to Coventry BS and Yorkshire BS that have both continued old regular savings accounts at favourable interest rates.

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  • MARTYM8`
    MARTYM8` Posts: 1,212
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    Gem-gem wrote: »
    I'm afraid that I haven't got an account with these two, so didn't think that I could do open one. Opted for nationwide account where I have been earning 5% on £2500. It finishes next month.

    If you are going to open FD and M&S accounts make sure you take advantage of their switching offers - £100 cash for the former and up to £125 in M&S vouchers for the latter.

    You just need a doner account - or should that be a donor!:D
  • afmfifgh
    afmfifgh Posts: 281
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    Having read back through some of this thread I understand that Leeds BS have recently stated that they will be closing their Issue 1 and Issue 2 Regular savers after some time of them being around.

    I understand it is possible to each year keep adding to these accounts. So over the years the balance can build up. So although in the short term they are a hassle the longer term benefits are clear as a large balance builds.

    The only option for me as a late comer is the Issue 3 with Leeds BS and so before I open it I was wondering if people could give me a rough idea as to how long the Issue 1 & 2 lasted before they were shut down and how long the Issue 3 has been going as I have been unable to find out.

    Just a rough idea would be great.

    Many thanks.
  • Steve_xx
    Steve_xx Posts: 6,970
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    afmfifgh wrote: »
    Having read back through some of this thread I understand that Leeds BS have recently stated that they will be closing their Issue 1 and Issue 2 Regular savers after some time of them being around.

    I understand it is possible to each year keep adding to these accounts. So over the years the balance can build up. So although in the short term they are a hassle the longer term benefits are clear as a large balance builds.

    The only option for me as a late comer is the Issue 3 with Leeds BS and so before I open it I was wondering if people could give me a rough idea as to how long the Issue 1 & 2 lasted before they were shut down and how long the Issue 3 has been going as I have been unable to find out.

    Just a rough idea would be great.

    Many thanks.
    I don't think that the length of time that the older issues were in operation is particularly relevant. It is pretty obvious that Leeds have looked at this and noted that they are paying over the odds to their savers and so they have taken a decision to align their products with the rest/most of the market.


    I think that the current Issue only allows £250 a month to be deposited, whereas the former allowed more, at least £500 for Issue 2. Issue 3 may escape for longer given that a smaller deposit per month is allowed, or if interest rates were to move up then that might help sustain it for longer.
  • bristolleedsfan
    bristolleedsfan Posts: 12,045
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    edited 9 March 2015 at 1:44PM
    afmfifgh wrote: »
    and how long the Issue 3 has been going as I have been unable to find out.

    Just a rough idea would be great.

    Many thanks.


    Since approx October 2013

    Variable Rate ( Excluding Conditional Bonus) can easily be reduced if Leeds B.S choose to do so unlike earlier Issues.

    http://www.leedsbuildingsociety.co.uk/savings/access-accounts/regular-saver-issue-3/
  • kazwookie
    kazwookie Posts: 13,810
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    Just opened a first direct current account, and a regular saver account.

    It seems I only have to pay in £1000 to the current account per month, not £1500 as per post 5#. I then fund the regular saver account from that, and can removed the £700 if I wish else where.
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  • Steve_xx
    Steve_xx Posts: 6,970
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    You may not have to deposit the 1k per month if you have one of their 'selected' products. Though they don't readily say what they may be:

    Is there a charge to bank with first direct?

    Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our interest rates and charges for more details of other additional products.
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