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Post by dan1 on Oct 10, 2019 8:51:11 GMT
Given that both HSBC and FD have reduced their regular saver rates to 2.75% for new accounts, I actually went a bit out of my way to open a Virgin 3% one in branch the other day. As usual my timing was off as they’d only just launched issue 19, but if issue 20 is at the same rate if/when it launches I’ll be opening another.
In Edit: I think that leaves M&S as the only 5% regular saver left, although I guess that may not last long and probably not until my current one expires.
Thank you for bad news I didn't know this. Both, my FD and HSBC, will mature next month. I will be renewing @2.75 - still a better offer than most reg savers currently on the market. Yes, this is correct - the only regular saver that pays 5% left is M&S. My guess is the same - it will very soon match the other two. This will leave Virgin to be the top paying reg saver. Speak of the devil, I have an appointment at 9.30am tomorrow for issue 19 I hope they will stretch to issue 20 at the same rate... It's tighter than ever in saving world. In recent months the only good news was Al Rayan instant access at 1.6% - everything else is going down. EDIT: Not only Virgin, Saffron is also offering 3% reg saver. It's branch only, but existing customers can open it by post. M&S Bank is a subsidiary of HSBC so, I guess the rate will fall in line at some stage (FD being part of HSBC). Pressures and uncertainty currently high on HSBC and over which they have little control... perhaps it's slowly feeding through to retail customers. YBS also have a branch based regular saver at 2.5%. They have a fair few branches but I wouldn't go out of my way to open one.
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Post by MrHappyGoLucky on Oct 10, 2019 8:56:34 GMT
It's tighter than ever in saving world. In recent months the only good news was Al Rayan instant access at 1.6% - everything else is going down. Al Rayan no longer offer the instant access at 1.6% since 2 Oct. The issue 2 is now only 1%. Have to be quick nowadays as they gone very fast.
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Post by df on Oct 10, 2019 11:18:22 GMT
Speak of the devil, I have an appointment at 9.30am tomorrow for issue 19 I hope they will stretch to issue 20 at the same rate... Yeah talk about old hat, an appointment It never even occurred to me, I just rocked up with some ID and asked to open the account only to be informed they were fully booked up until the end of the following week – luckily they said they’d squeeze me in after the next appointment if I waited, which I did. I got the takeover the wrong way around too, it’s not Virgin Money taking over Clydesdale & Yorkshire, they’ve bought the Virgin Money brand, and presumably the branch outlets too. Good news is that you don't need appointment for withdrawal just need to turn up with your debit card and they'll transfer matured funds to your bank account. I was told today that they have merged, not bought by CYB, but that's probably just an official line by the management. Whatever it is, I think this issue might be the last one at 3%. The intervals between issues seems to be 2 months, so it is worth checking their website at the beginning of December and see what's on offer.
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Post by df on Oct 10, 2019 11:29:50 GMT
Thank you for bad news I didn't know this. Both, my FD and HSBC, will mature next month. I will be renewing @2.75 - still a better offer than most reg savers currently on the market. Yes, this is correct - the only regular saver that pays 5% left is M&S. My guess is the same - it will very soon match the other two. This will leave Virgin to be the top paying reg saver. Speak of the devil, I have an appointment at 9.30am tomorrow for issue 19 I hope they will stretch to issue 20 at the same rate... It's tighter than ever in saving world. In recent months the only good news was Al Rayan instant access at 1.6% - everything else is going down. EDIT: Not only Virgin, Saffron is also offering 3% reg saver. It's branch only, but existing customers can open it by post. M&S Bank is a subsidiary of HSBC so, I guess the rate will fall in line at some stage (FD being part of HSBC). Pressures and uncertainty currently high on HSBC and over which they have little control... perhaps it's slowly feeding through to retail customers. YBS also have a branch based regular saver at 2.5%. They have a fair few branches but I wouldn't go out of my way to open one. Thank you. YBS is 15 minutes walk for me and I never needed an appointment to open accounts with them. I'll visit the branch tomorrow whilst it's on offer. Drip feeding from 1.6% to 2.5% earns 2.1%, which is still good for today's hostile environment.
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Post by df on Oct 10, 2019 11:43:53 GMT
It's tighter than ever in saving world. In recent months the only good news was Al Rayan instant access at 1.6% - everything else is going down. Al Rayan no longer offer the instant access at 1.6% since 2 Oct. The issue 2 is now only 1%. Have to be quick nowadays as they gone very fast. I was lucky to get it on time, but it is not fixed, so there's a good chance for issue 1 rate to drop soon... This means at present the best instant access for new customers are Marcus and Synergy. Coventry offers 1.46%, but is limited to 3 withdrawals per year.
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Post by dan1 on Oct 12, 2019 7:56:07 GMT
M&S Bank is a subsidiary of HSBC so, I guess the rate will fall in line at some stage (FD being part of HSBC). Pressures and uncertainty currently high on HSBC and over which they have little control... perhaps it's slowly feeding through to retail customers. YBS also have a branch based regular saver at 2.5%. They have a fair few branches but I wouldn't go out of my way to open one. Thank you. YBS is 15 minutes walk for me and I never needed an appointment to open accounts with them. I'll visit the branch tomorrow whilst it's on offer. Drip feeding from 1.6% to 2.5% earns 2.1%, which is still good for today's hostile environment. Coventry BS launched a new regular saver late last month at 2.5% with deposits up to £500 pcm and importantly opening/management by internet
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r00lish67
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Post by r00lish67 on Oct 12, 2019 8:35:06 GMT
Thank you. YBS is 15 minutes walk for me and I never needed an appointment to open accounts with them. I'll visit the branch tomorrow whilst it's on offer. Drip feeding from 1.6% to 2.5% earns 2.1%, which is still good for today's hostile environment. Coventry BS launched a new regular saver late last month at 2.5% with deposits up to £500 pcm and importantly opening/management by internet ..and with a rather printed novel grid card login system. Like playing a really sad little game of battleships every time.
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r00lish67
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Post by r00lish67 on Oct 12, 2019 8:38:36 GMT
My savings account tip of the day - The Investec Notice Plus account. 1.8% interest and only tied in with 95 days notice. Given that the rate beats the best currently available 1 year fix, that's not a bad deal I think. (also has various flavours of shorter notice/immediate access for slightly less interest, and i believe an extra 0.05% interest if you don't withdraw for 90 days)
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Oct 12, 2019 12:28:58 GMT
My savings account tip of the day - The Investec Notice Plus account. 1.8% interest and only tied in with 95 days notice. Given that the rate beats the best currently available 1 year fix, that's not a bad deal I think. (also has various flavours of shorter notice/immediate access for slightly less interest, and i believe an extra 0.05% interest if you don't withdraw for 90 days) Thanks . Depending on the amount you have to invest £<10000 better have multiple current accounts paying 3-5% for up to £5000 each just cycle minimum deposit each month. Swap regularly and get up to £180 rewards . Currently manage £12000 this way with 3.9% overall. All FSCS protected. Plus instant access penalty free as interest calculated daily. If you require Direct Debits usually 2 if you don’t have enough just set one up for accounts you can then withdraw ie S&S account.
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r00lish67
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Post by r00lish67 on Oct 12, 2019 13:48:06 GMT
My savings account tip of the day - The Investec Notice Plus account. 1.8% interest and only tied in with 95 days notice. Given that the rate beats the best currently available 1 year fix, that's not a bad deal I think. (also has various flavours of shorter notice/immediate access for slightly less interest, and i believe an extra 0.05% interest if you don't withdraw for 90 days) Thanks . Depending on the amount you have to invest £<10000 better have multiple current accounts paying 3-5% for up to £5000 each just cycle minimum deposit each month. Swap regularly and get up to £180 rewards . Currently manage £12000 this way with 3.9% overall. All FSCS protected. Plus instant access penalty free as interest calculated daily. If you require Direct Debits usually 2 if you don’t have enough just set one up for accounts you can then withdraw ie S&S account. Only TSB that I'm aware of fits your criteria (just) at 3% and only allows £1500, unless you count Nationwide, but that's only for a single year. Even if we count N'wide, that still leaves us at only £4k altogether. Is the other £8k your magical 7% BOS current account that no-one else can get? Or do you just manage a lot of TSB accounts?
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macq
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Post by macq on Oct 12, 2019 14:39:46 GMT
May only apply to a few people on here due to the need to visit/live in an area but Two interesting regular savers are The Newcastle BS RS which allows £200 a month @ 2.25% (includes a bonus for not missing a month) but allows you to build an account up to £25,000 plus the interest rather then the usual £2400 for One year.Not sure if its unique or somebody else runs One for 5 - 10 years? And the Saffron BS have added an extra 170th birthday issue RS to there range which pays 2.5% but lets you put in a max of £1000 a month (the usual RS only allows £200 @ 3%)
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Post by df on Oct 12, 2019 19:12:53 GMT
Thank you. YBS is 15 minutes walk for me and I never needed an appointment to open accounts with them. I'll visit the branch tomorrow whilst it's on offer. Drip feeding from 1.6% to 2.5% earns 2.1%, which is still good for today's hostile environment. Coventry BS launched a new regular saver late last month at 2.5% with deposits up to £500 pcm and importantly opening/management by internet Thank you. It's a third RegS I've opened this week. Appeared on my page straight away. Strange that it displays 0.00% interest, but I guess this will change to 2.5% as soon as I deposit some money. I have another one with Coventry (£250pm) that currently pays 2.55%, but that is not available for new customers. It's been running for many years, I've never missed a payment so my balance is 32.6k (very lucky with this one - the rate has changed many times, but always stayed highly competitive).
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Post by df on Oct 12, 2019 20:58:10 GMT
Coventry BS launched a new regular saver late last month at 2.5% with deposits up to £500 pcm and importantly opening/management by internet ..and with a rather printed novel grid card login system. Like playing a really sad little game of battleships every time. It's quite unique, I've never come across this method of ID from other building societies, and is still not replaced by modern verification systems. I keep it in the box with my numerous "keys" and card readers
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Post by df on Oct 12, 2019 21:22:04 GMT
My savings account tip of the day - The Investec Notice Plus account. 1.8% interest and only tied in with 95 days notice. Given that the rate beats the best currently available 1 year fix, that's not a bad deal I think. (also has various flavours of shorter notice/immediate access for slightly less interest, and i believe an extra 0.05% interest if you don't withdraw for 90 days) Al Rayan is currently offering 2.07% on 1 year fixed.
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Post by df on Oct 12, 2019 21:58:49 GMT
May only apply to a few people on here due to the need to visit/live in an area but Two interesting regular savers are The Newcastle BS RS which allows £200 a month @ 2.25% (includes a bonus for not missing a month) but allows you to build an account up to £25,000 plus the interest rather then the usual £2400 for One year.Not sure if its unique or somebody else runs One for 5 - 10 years? And the Saffron BS have added an extra 170th birthday issue RS to there range which pays 2.5% but lets you put in a max of £1000 a month (the usual RS only allows £200 @ 3%) It sounds like Newcastle is planning to run it for many years. This is what I have with Coventry, I've opened it in April 2010 and it's still running. I assume 2.25% is a variable rate, so it might drop in future. Saffron's birthday issue sounds very good. Would've gone for it if I was residing in their "heartland area" Luckily I'm still able to use some Saffron's products by post because I joined before it turned "this is the local shop for local people". I was trying to open issue4 last week and they wouldn't let me because I still have issue3 running. Strange, other BS allow to open as many as many issues as you want as they are different products.
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