Regular Savings Accounts: The Best Currently Available List!

A question about : Regular Savings Accounts: The Best Currently Available List!

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 only including accounts where the interest rate is 2.5% or better, or 2% if there are particularly favourable terms and conditions (e.g. no maturity date, or allow payment of Ј500 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.

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 Children's Savings Accounts Page
Moneysupermarket.com Regular Savings Accounts Page
Savings Champion Regular Savings Account Page
eMoneyfacts Daily News Bulletin (no longer free, now subscription only)

Thanks to Money Savers adindas, Afahmaep, alanq, aleph_0, apt, Archi Bald, Baldur, blindman, Bluebirdnick, bob792, bristolleedsfan, Careful_ly, Chadsman, chookie1, chris1, colsten, Cosworth806, ctdctd, Dagobert, DeepSporran, dougz, Ed-1, edda, F4, Fella, Froglet, Frogletina, gt94sss2, happy with my lot!!, HardCoreProgrammer, IanIan, IanManc, info addict, InMyDreams, innovate, interest Ted, jdavtz, jimbow25, johnmoney05, karlie88, Kazza242, Ken68, KTF, lightbulb2760, LongTermLurker, lr1277, lucky77, mary, midzone, MarkFromMullion, MARTYM8', Milarky, moi, moneylover, Money_Man_Steve, MoneySaverLog, motoko, Mr Pumpendumpen, MRMX9, mrssjs, Nessie23, Newly retired, Nick_C, nicko33, notalk, Old Slaphead, opinions4u, oxenryd, parker1982, patientperson, penguine, premierfella, psychic teabag, quinlanmd, RayWolfe, red ant, redcar, SalsaDanca, secret wookie, shokadelika, Snowman, Speculator, steveteach, veryintrigued, ViksB, vinylmusic, Vortigern, weeallen, worried3, Willing2Learn, and YorkshireBoy for their contributions (useful posts either directly on this thread or on another thread that I have then incorporated here).

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.

If you want to bookmark a link that allows you to jump straight to the end of this thread then use this: https://forums.moneysavingexpert.com/...8697&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).

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.

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.

Best answers:

• No Time Limit / Account Maturity Date
  Nottingham BS Regular Saver
  Interest rate: 3.1% gross p.a. variable from 1st April 2009
  Monthly payment: Ј10-Ј250
  Miss any payments: Yes, miss 1 payment per account year (which ends 30th September)
  Penalty-free withdrawals: Yes, can make 2 penalty-free withdrawals per account year (which ends 30th September)
  Age of applicant: Not stated
  How to open account: Branch (several forum users have reported that it is not possible to open an account by post by sending an application to a branch)
  Special conditions: Your regular payments must reach the account by 25th of each month. If you open your account part way through the account year, you can miss one monthly payment up to 25th September and still qualify for the bonus interest.
  Leeds BS Regular Saver (Issue 3)
  Interest rate: 3.05% gross p.a. variable from 31st October 2013
  Monthly payment: Ј50-Ј250
  Miss any payments: No
  Penalty-free withdrawals: Yes, can make 1 penalty-free withdrawal per account year (which ends 31st October)
  Age of applicant: Not stated
  How to open account: Branch or post
  Special conditions: You can only make one deposit per month. In post 2465, patientperson reports that you can open one account per issue of this regular saver. In posts 3042 and 3043 on page 153 of this thread, alanq and redux describe that Leeds BS are closing their issue 1 and 2 accounts even though it is meant to be an account with no maturity date, so this issue 3 account could also be closed by Leeds BS in the future. Leeds BS have not offered issue 1 and 2 account holders to transfer to issue 3. Instead they will be transferred to accounts earning a lower interest rate.
  Mansfield BS Young Regular Saver
  Interest rate: 3% gross p.a. variable
  Monthly payment: Ј25-Ј500
  Miss any payments: Yes, as long as you do not miss payments for two consecutive months
  Penalty-free withdrawals: Yes, two withdrawals per calendar year (1st January to 31st December)
  Age of applicant: Up to and including 17 years old
  How to open account: Post or branch
  Special conditions: It may be possible to open 3 accounts; it is possible for their adult regular saver account (see entry below). Closure is subject to the loss of 90 days interest on the closing balance if 2 or more withdrawals have been made in the same year. The account can be opened by anyone prior to their 18th birthday and, once opened, may be operated into adulthood. If younger than 7 the application form must be signed on behalf of the child by a parent, grandparent or guardian. Each young saver will receive a free piggy bank upon opening.
  Mansfield BS Regular Savings (Issue 3)
  Interest rate: 2.75% gross p.a. variable
  Monthly payment: Ј25-Ј250
  Miss any payments: Yes, as long as you do not miss payments for two consecutive months
  Penalty-free withdrawals: Yes, two withdrawals per calendar year (1st January to 31st December)
  Age of applicant: 18 years or older
  How to open account: Post or branch
  Special conditions: It is possible to open 3 accounts. According to patientperson in post 2280, the product literature states "The maximum number of Regular Savings Accounts (across all issues) is limited to 3 (in total) per customer." and patientperson has managed to open 3 of the same issue. Closure is subject to the loss of 90 days interest on the closing balance if 2 or more withdrawals have been made in the same year. The account is available to savers resident in Nottinghamshire, Derbyshire or South Yorkshire and aged 18 years or over at the date of opening the account. In addition, existing savers and borrowers aged 18 years or over at the date of opening the account who have a minimum of 3 years continuous membership with the Society and who live outside Nottinghamshire, Derbyshire or South Yorkshire also qualify for the account.
  Progressive BS Clockwork Regular Saver (Issue 2)
  Interest rate: 2.75% gross p.a. variable from January 2014
  Monthly payment: Ј20-Ј500
  Miss any payments: Yes, can miss one per calendar year
  Penalty-free withdrawals: Yes, one per calendar year (1st January to 31st December)
  Age of applicant: Age 18 or older
  How to open account: Branch only
  Special conditions: Only available to existing customers or new customers resident in Northern Ireland. Withdrawals can only be made in a branch. Maximum balance Ј1 million.
  Progressive BS Regular e-Saver (Issue 2)
  Interest rate: 2.75% gross p.a. variable from December 2012
  Monthly payment: Ј20-Ј500
  Miss any payments: Yes, can miss one per calendar year
  Penalty-free withdrawals: Yes, one per calendar year (1st January to 31st December)
  Age of applicant: Age 18 or older
  How to open account: Online (anamenottaken reports that they verify identity electronically where possible which means no forms to send in the post)
  Special conditions: Only available to existing customers or new customers resident in Northern Ireland. Withdrawals or closure require 7 days' notice and a further day for funds to be transferred electronically to your bank account. Maximum balance Ј1 million. You cannot open a new Regular e-Saver account until 6 months after closing this one.
  Newcastle BS Big Home Saver (Issue 2)
  Paying 2.57% AER on Ј1-Ј1,250 per month. Intended for people saving for a mortgage but, as far as I can see, you do not have to take out a mortgage to get this interest rate. See post 8 for more details of this account.
  Furness BS Lifestyle Saver
  Interest rate: 2.55% gross p.a. variable
  Monthly payment: Ј1-Ј250
  Miss any payments: No
  Penalty-free withdrawals: Yes, can make 1 penalty-free withdrawal per account year
  Age of applicant: 16 years old or older
  How to open account: Branch or by post (you can telephone 0800 83431 for an application pack or download it from their website)
  Special conditions: If more than one withdrawal is required in the calendar year, your account must be closed. You can close your account at any time without notice or penalty. Can be opened by any UK resident according to the application form.
  Nationwide BS Regular Savings Account
  Interest rate: 2.5% gross p.a. variable from 1st April 2009
  Monthly payment: Ј0-Ј1,000
  Miss any payments: Yes, but your interest rate will be less than the rate stated above if your account balance does not rise by at least Ј500 per month
  Penalty-free withdrawals: Your interest rate will be less than the rate stated above for any month where your balance does not rise by at least Ј500
  Age of applicant: Age 11 or older
  How to open account: Branch or online
  Special conditions: You get a LINK cash machine card. You can operate this account using the cash machine card or online. No maximum balance.
  Leek United BS Regular Savings
  Interest rate: 2.25% gross p.a. variable from 1st December 2012
  Monthly payment: Ј25-Ј500
  Miss any payments: No
  Penalty-free withdrawals: Yes, you can make 1 penalty-free withdrawal per account year.
  Age of applicant: Not stated
  How to open account: Branch or post
  Vernon BS Regular Saver Reward
  Interest rate: 2.15% gross p.a. variable (including a 2% fixed interest bonus)
  Monthly payment: Ј25-Ј500
  Miss any payments: Yes, can miss 1 payment
  Penalty-free withdrawals: Yes, two per account year (1st April to 31st March)
  Age of applicant: Not stated
  How to open account: Post or branch
  Special conditions: Once opened, the account can be managed online. Can only be opened by people that live within a 25 mile radius of Stockport.
  Monmouthshire BS Saver Plus (Issue 2)
  Interest rate: 2.1% gross/AER variable from 1st April 2014 (including a 1% fixed bonus)
  Monthly payment: Ј20-Ј1,000
  Miss any payments: No, must not miss any payments
  Penalty-free withdrawals: Yes, one. Any further withdrawals will result in loss of that year's bonus and more than 3 withdrawals will result in closure of the account.
  Age of applicant: Not specified
  How to open account: Branch, Online or Post
  Special conditions: Payment by direct debit on a date of your choosing up to the 24th of the month.You can change the monthly payment amount whenever you want by writing to them.
  Chorley BS Regular Saver (Issue 1)
  Interest rate: 2% gross p.a. variable from 26th October 2011
  Monthly payment: Ј0-Ј500
  Miss any payments: Yes, as many as you want
  Penalty-free withdrawals: Yes, two per calendar year (1st January to 31st December)
  Age of applicant: Not stated
  How to open account: Post or branch
  Special conditions: Minimum balance Ј1. Maximum balance Ј85,000.
• Matures After More Than 12 Months
  Nationwide BS FlexOne Regular Saver Account (age 11-17)
  Interest rate: 3.5% gross p.a. variable from 29th October 2014
  Monthly payment: Ј0-Ј100
  Miss any payments: Yes, as many as you want.
  Penalty-free withdrawals: Yes, as many as you want.
  Age of applicant: Age 11-17, when holder reaches age 23 then the account will convert to an instant access account
  How to open account: Branch or online
  Special conditions: Must also have a FlexOne current account.
  Newcastle BS Big Little Saver (children only)
  Interest rate: 3% gross p.a. variable
  Monthly payment: Ј1-Ј250
  Miss any payments: Yes, but you earn a lower interest rate for that month
  Penalty-free withdrawals: You earn a lower interest rate for the month of any withdrawals
  Age of applicant: Age 18 or over, on behalf of a child aged under 16
  How to open account: Branch or post
  Special conditions: This account must be a transferred to a standard deposit account before the child's 17th birthday. Also available as a Junior ISA account that allows transfers in from other JISA accounts.
  Nottingham BS Robin Hood Young Saver (Issue 2, children only)
  Interest rate: 3% gross p.a. fixed
  Monthly payment: Ј1-Ј100
  Miss any payments: Yes, you can miss as many as you like
  Penalty-free withdrawals: Yes, as many as you like
  Age of applicant: Children aged between 7 and 17 can open the account themselves; children aged under 7 will need a parent or guardian to open the account
  How to open account: Branch only (several forum users have reported that it is not possible to open an account by post by sending an application to a branch)
  Special conditions: This account must be a transferred to a standard deposit account before the child's 17th birthday.
  State Bank of India UK Jumbo Junior Regular Saver (children only)
  Interest rate: 2.81% gross p.a. / 2.85% AER variable on up to Ј109,999 (no interest above this level)
  Monthly payment: Ј50-Ј1,500, only one payment per month
  Miss any payments: Yes, you can miss as many as you like, you cannot later make up for missing payments by overpaying in subsequent months
  Penalty-free withdrawals: No withdrawals but the account can be closed early for a fee of 0.5% of the closing balance, which means that you may get back less than you deposited if you close the account soon after opening it
  Age of applicant: One or two adults on behalf of a child under 15 at the time of account opening
  How to open account: Branch or post (look at the top of the downloadable application form or click the "branch opening hours" link on the right hand side of any page on their website to see the branch locations; if opening by post then identification documents have to be certified by a solicitor, notary, chartered accountant or a bank employee)
  Special conditions: You choose the term of the account: any length from 12 months to the child's 16th birthday. The child and same adult(s) must also have a Junior Instant Access Savings account (can be opened at the same time as the regular saver account). At maturity, the balance of the regular saver will be paid into this account. Funds can only be deposited into the regular saver account via a standing order from the Jumbo Junior Instant Access Savings Account. The initial deposit can be made by cheque or electronic transfer. Maximum deposits of Ј100,000 in total across all Jumbo Junior accounts. (Note from Special_Saver2: as the interest is variable and no withdrawals are allowed, if the interest rate drops or fails to rise with rising base rates then you will be stuck with the variable interest rate until the end of the term or pay a 0.5% fee to close the account.)
  Darlington BS Junior High Days & Holidays Bonus Saver (children only)
  Interest rate: 2.25% gross p.a. variable
  Monthly payment: Ј0-Ј150
  Miss any payments: Yes, you can miss as many as you like
  Penalty-free withdrawals: Yes, two per year from 1st September to 31st August
  Age of applicant: Under 16
  How to open account: Branch or post
  Special conditions: This account will be a transferred to a Foundation account at the end of the month that the child turns 16 years old. The final bonus is paid on 31st August in the year before the child turns 16 years old, so it is probably worth closing the account at that point.
  Norwich and Peterborough BS Monthly Regular Saver Account
  Interest rate: 2% gross p.a. variable from 31st March 2014
  Monthly payment: Ј0-Ј500
  Miss any payments: Yes, you can miss as many as you like
  Penalty-free withdrawals: Yes, one per year (based on anniversary of account opening date)
  Age of applicant: Not stated
  How to open account: Branch or phone
  Special conditions: This account runs for 2 years. Once opened, can be operated post or electronic payment and "limited facilities are available online via internet banking".
  Barnsley BS Monthly Regular Saver
  Interest rate: 2% gross p.a. variable from 31st March 2014
  Monthly payment: Ј0-Ј500
  Miss any payments: Yes, miss as many as you want
  Penalty-free withdrawals: Yes, can make 1 penalty-free withdrawal per account year. You can also close the account without penalty even if you have made a withdrawal in that account year
  Age of applicant: Not stated
  How to open account: Branch or post (account can be operated online but not opened online)
  Special conditions: The account runs for 2 years.
  Chelsea BS Monthly Regular Saver
  Identical to the Barnsley BS account above.
  Yorkshire BS Monthly Regular Saver
  Identical to the Barnsley BS account above.
• Matures After 12 Months
  Halifax Kids' Regular Saver
  Interest rate: 6% gross p.a. fixed
  Monthly payment: Ј10-Ј100
  Miss any payments: Yes, as many as you like
  Penalty-free withdrawals: No withdrawals permitted
  Age of applicant: Aged up to 15 years old (but the account can continue beyond the child's 15th birthday)
  How to open account: Branch only
  Special conditions: You can only open one account per child.
  Kent Reliance One Year Regular Savings Account
  Interest rate: 4% gross p.a. from 20th July 2012
  Monthly payment: Ј25-Ј500 (minimum monthly payment not specified in the terms and conditions but lightbulb2760 in post 2917 and adindas in post 2951 have been told it is Ј25)
  Miss any payments: No
  Penalty-free withdrawals: Yes, as many as you want but you must leave a minimum balance of Ј25
  Age of applicant: Any age
  How to open account: Branch only (many forum users report it is not possible to open this account by post)
  Saffron BS 12 Month Fixed Rate Regular Saver (Issue 2)
  Interest rate: 4% gross p.a. fixed
  Monthly payment: Ј10-Ј200
  Miss any payments: No, you will receive no interest for any month in which you miss a payment according to HardCoreProgrammer in post 2516
  Penalty-free withdrawals: Yes, as many as you want
  Age of applicant: No age limits but for children under 7 years old, a parent or guardian must act as a signatory on the account and complete a Young Savers application form
  How to open account: Branch or post
  Special conditions: For accounts by post, these can only be opened by existing members and their families (and vinylmusic wrote in post 2000 for issue 1 that you need to have been a member for a year before you can apply for this account). The interest rate falls to 0.05% if the account balance is less than Ј10. You may only hold one Regular Saver account (includes all issues). Addendum 21st June 2014: their website and lightbulb2760 in post 2635 indicate that for a limited time you can apply for this account in branch without being a member for 1 year first.
  West Bromwich BS Children's Fixed Rate Regular Saver (Issue 3)
  Interest rate: 3.6% gross p.a. fixed
  Monthly payment: Ј10-Ј75
  Miss any payments: Yes, miss as many as you like, no penalties
  Penalty-free withdrawals: No, and no withdrawals prior to maturity
  Age of applicant: 15 years or younger
  How to open account: Branch only
  Ipswich BS Smart Save
  Interest rate: 3.5% gross p.a. variable from 1st August 2009
  Monthly payment: Ј10-Ј500 (or Ј1,000 for a joint account)
  Miss any payments: Yes, miss 1 payment
  Penalty-free withdrawals: Yes, one penalty-free withdrawal per anniversary year
  Age of applicant: Not stated
  How to open account: Branch or post
  Special conditions: This product is only available to existing members or new applicants resident in local postcode areas IP, NR, CO, CM, CB and PE. The variable bonus interest of 3% is paid only on deposits made during that anniversary year, e.g. if you carry on adding to this account for a second year, the money you pay in during the second year will earn 3.5% but the money you paid in during the first year will only earn 0.5%. It is therefore in your best interests to close this account and open a new one after the anniversary.
  Dudley BS Junior Easy Saver
  Interest rate: 3.5% gross AER variable from 21st February 2013
  Monthly payment: Ј10-Ј150
  Miss any payments: Yes, as many as you like
  Penalty-free withdrawals: No withdrawals allowed but the account can be closed early (no penalty stated)
  Age of applicant: Under 16 years old, operated either by an adult or a child at least 11 years old
  How to open account: Branch
  Barclays Childrens Regular Saver (Issue 1)
  Interest rate: 3.45% gross p.a. / 3.5% gross AER fixed
  Monthly payment: Ј5-Ј100
  Miss any payments: No
  Penalty-free withdrawals: No, balance earns 1.50% gross p.a. fixed for any months a withdrawal is made
  Age of applicant: Account must be opened and operated by an adult on behalf of a child aged under 16
  How to open account: Branch
  West Bromwich BS Adult's Fixed Rate Regular Saver (Issue 3)
  Interest rate: 3.3% gross p.a. fixed
  Monthly payment: Ј10-Ј100
  Miss any payments: Yes, miss as many as you like, no penalties
  Penalty-free withdrawals: No, and no withdrawals prior to maturity
  Age of applicant: 16 years or older
  How to open account: Branch only
  Principality BS Dylan Regular Saver Bond (Issue 5, children only)
  Interest rate: 3% gross p.a. fixed
  Monthly payment: Ј10-Ј150
  Miss any payments: Can miss as many payments as you wish
  Penalty-free withdrawals: No withdrawals permitted
  Age of applicant: Up to 16 years old
  How to open account: Branch or post
  Special conditions: Comes with a free Dylan the Dragon money box. Deposits by standing order should leave the sending account by the 20th of the month.
  Dudley BS One Year Regular Saver (Issue 2)
  Interest rate: 2.9% gross p.a. variable from 13th February 2014
  Monthly payment: Ј0-Ј250
  Miss any payments: Yes, as many as you want
  Penalty-free withdrawals: No, but you can close the account without penalty
  Age of applicant: Not stated
  How to open account: Branch or post (they can post out an application pack to you according to veryintrigued in post 2510)
  Special conditions: The interest rate drops after the first 12 months. Minimum opening and operating balance is Ј100.
  Market Harborough BS Super Saver (Issue 3)
  Interest rate: 2% gross p.a. variable
  Monthly payment: Ј10-Ј3,000
  Miss any payments: No
  Penalty-free withdrawals: One per calendar year.
  Age of applicant: Not stated
  How to open account: Branch, post or online
  Special conditions: Maximum balance Ј50,000. Can only ever hold 2 Super Saver accounts. Interest rate drops by 0.5% after 1 year so you may wish to close the account at this point. Only available to residents within LE and NN post codes. This interest rate is variable and for the issue 2 account they dropped the interest rate from 2% to 1.6% and then immediately launched issue 3 at 2% for new customers.
  
  Scottish BS Regular Saver
  Interest rate: 2% gross p.a. variable
  Monthly payment: Ј10-Ј500
  Miss any payments: No
  Penalty-free withdrawals: No, but you can close the account early without penalty
  Age of applicant: Not stated
  How to open account: Branch and post
  Principality BS Regular Saver Bond (Issue 14)
  Interest rate: 2% gross p.a. fixed
  Monthly payment: Ј20-Ј500
  Miss any payments: No
  Penalty-free withdrawals: No. You can close the account early but all interest will then be paid at the bottom tier of the Instant Access account rate.
  Age of applicant: Not stated
  How to open account: Branch and online
  Special conditions: Balance transferred to an Instant Access account at the end of the 12 month term. The terms and conditions say they will write to you with details of that account prior to maturity. It has been reported by lucky77 in this thread that if you try and make a 13th payment then it will be returned to you.
• Matures After 12 Months, Requires Another Account
  First Direct Regular Saver Account
  Interest rate: 6% gross p.a. fixed
  Monthly payment: Ј25-Ј300
  Miss any payments: No
  Penalty-free withdrawals: No, you can close the account early with all interest paid at their standard variable Saving Account interest rate
  Age of applicant: Not stated
  How to open account: Online or by telephone
  Special conditions: If you pay in less than Ј300 per month then you can make up the extra amount in future months - your maximum balance goes up by Ј300 per month. You must hold a First Direct 1st Account for as long as you hold this account. The 1st Account costs Ј10 a month, but it is free in certain circumstances - when you pay in at least Ј1,500 per month, maintain an average balance of Ј1,500 or hold a selected first direct additional product. As discussed in posts 1484 and 1488 of this thread (page 75), you can open up a new regular saver account online or by telephone as soon as the old one has matured. The matured account will still appear on the online banking on maturity day, but you will be able to apply for a new Regular Saver on the same day within internet banking. If you deposit Ј300 per month then First Direct say that your interest should be about Ј117 gross (Ј93 net).
  HSBC Regular Saver
  Interest rate: 6% gross p.a. fixed rate but only available if you have a HSBC Premier, Advance, Advance (Graduate) or Passport account
  Monthly payment: Ј25-Ј250
  Miss any payments: Yes, you can cancel and resume your standing order whenever you wish
  Penalty-free withdrawals: No, but you can close the account early (with interest paid at a lower rate for the entire term - paid at the standard Flexible Saver interest rate)
  Age of applicant: Same age as whichever current account is opened at the same time (which is age 16, 17 or 18 depending on the current account chosen)
  How to open account: In branch, online or telephone
  Special conditions: Must hold a current account with HSBC and the standing order must come from that account. If you pay in less than Ј250 per month then you can make up the extra amount in future months - your maximum balance goes up by Ј250 per month. For a version of this account which requires a current account that does not have a fee, see below. You may also have difficulty opening this account if you do not have a regular income - see page 85 of this thread. Advance account now available free of charge - see post 2895.
  Marks and Spencer Bank Monthly Saver
  Interest rate: 6% gross p.a. fixed
  Monthly payment: Ј25-Ј250
  Miss any payments: Yes, and you can make up any missing payments later
  Penalty-free withdrawals: No withdrawals but you can close the account early (with interest paid at a lower rate)
  Age of applicant: Not stated
  How to open account: Online or telephone
  Special conditions: Must also open a M&S Current Account. For the practicalities of doing this and making the first deposit for the Monthly Saver account, see post 3000 onwards (pages 150 - 152) of this thread.
  Lloyds Bank Club Lloyds Monthly Saver
  Interest rate: 4% gross p.a. fixed
  Monthly payment: Ј25-Ј400
  Miss any payments: No stated penalty for missing a payment
  Penalty-free withdrawals: Yes, as many as you like
  Age of applicant: Minimum 18 years old
  How to open account: In branch or online
  Special conditions: Must also open a Lloyds Club current account.
  Norwich & Peterborough BS Gold Savings Account
  Interest rate: 4% gross p.a. fixed
  Monthly payment: Ј20-Ј250
  Miss any payments: No
  Penalty-free withdrawals: No early withdrawals at all and cannot close the account early
  Age of applicant: Not stated
  How to open account: In branch or by telephone
  Special conditions: Must also open a Gold Current Account and fund this with at least Ј500 per month. After 12 months the money is transferred into an Easy Plus account. Can only hold one Gold Savings account ever. Can move money manually from Gold Current account using online banking. The Gold Current account offers free cash machine withdrawals and debit card transactions overseas.
  HSBC Regular Saver
  Interest rate: 4% gross p.a. fixed rate
  Monthly payment: Ј25-Ј250
  Miss any payments:Yes, you can cancel and resume your standing order whenever you wish
  Penalty-free withdrawals: No, but you can close the account early (with interest paid at a lower rate for the entire term - paid at the standard Flexible Saver interest rate)
  Age of applicant: Same age as whichever current account is opened at the same time (which is age 16, 17 or 18 depending on the current account chosen)
  How to open account: In branch, online or telephone
  Special conditions: You must open a "Bank Account" account (which does not charge a fee but requires Ј500 per month funding unless you are aged under 24), Bank Account Pay Monthly or a Graduate Bank Account. If you pay in less than Ј250 per month then you can make up the extra amount in future months - your maximum balance goes up by Ј250 per month.You may also have difficulty opening this account if you do not have a regular income - see page 85 of this thread.
  Nationwide BS FlexOne Regular Saver Account (age 11-17)
  Interest rate: 3.5% gross p.a. variable from 29th October 2014
  Monthly payment: Ј0-Ј100
  Miss any payments: Yes, as many as you want.
  Penalty-free withdrawals: Yes, as many as you want.
  Age of applicant: Age 11-17, when holder reaches age 23 then the account will convert to an instant access account
  How to open account: Branch or online
  Special conditions: Must also have a FlexOne current account.
  Swansea BS Regular Saver Account
  Interest rate: 3% gross p.a. variable from 1st August 2013
  Monthly payment: Ј25-Ј500
  Miss any payments: No
  Penalty-free withdrawals: Yes, as many as you want.
  Age of applicant: Any age (including parents on behalf of a child)
  How to open account: Branch or post
  Special conditions: Interest paid monthly and must be paid to a different account with Swansea BS. On each anniversary, the account balance will be transferred to another account with Swansea BS. Only available to existing members or residents of Wales.
  Cumberland BS Regular Saver (Issue 2)
  Interest rate: 2.60% gross p.a. variable from 13th March 2014
  Monthly payment: Ј25-Ј250
  Miss any payments: One per subscription year
  Penalty-free withdrawals: One per subscription year
  Age of applicant: Aged 16 years or older (stated on interest rates document)
  How to open account: Branch
  Special conditions: You must have a Cumberland BS current account. Maximum balance Ј15,000.
  Bank of Scotland Monthly Saver
  
  Interest rate: 2% gross p.a. fixed
  Monthly payment: Ј25-Ј250
  Miss any payments: Yes, but any missed payments cannot be made up at a later date
  Penalty-free withdrawals: Yes, as many as you like
  Age of applicant: Age 16 years old or older
  How to open account: Online or branch
  Special conditions: You must have a Bank of Scotland current account.
  Lloyds Bank Monthly Saver
  
  Interest rate: 2% gross p.a. fixed
  Monthly payment: Ј25-Ј250
  Miss any payments: Yes, but any missed payments cannot be made up at a later date
  Penalty-free withdrawals: Yes, as many as you like
  Age of applicant: Age 16 years old or older
  How to open account: Online or branch
  Special conditions: You must have a Lloyds Bank current account.
  TSB Monthly Saver
  
  Interest rate: 2% gross p.a. fixed
  Monthly payment: Ј25-Ј250
  Miss any payments: Yes, but any missed payments cannot be made up at a later date
  Penalty-free withdrawals: Yes, as many as you like
  Age of applicant: Age 16 years old or older
  How to open account: Online
  Special conditions: You must have a TSB current account.
• Matures After 12 Months, Requires Another Product (Insurance or Investment)
  Currently no accounts in this category.
• Matures After Less Than 12 Months
  Currently no accounts in this category.
• Homebuyer Accounts
  Leek United BS Homebuyer Regular Saver
  Interest rate: 3% gross p.a. / AER variable
  Monthly payment: Ј50-Ј1,000
  Miss any payments: No stated penalties for missing a payment
  Penalty-free withdrawals: No withdrawals other than for home purchase but the account can be closed with 90 days' loss of interest
  Age of applicant: Not stated
  How to open account: Post
  Special conditions: You can earn cashback rewards and free insurance for 1 year if you take out a mortgage with Leek United BS and hold this account.
  Newcastle BS Big Home Saver (Issue 2)
  Interest rate: 2.54% gross p.a. / 2.57% gross AER variable
  Monthly payment: Ј1-Ј1,250
  Miss any payments: Yes, but you earn a lower interest rate in any month you miss a payment
  Penalty-free withdrawals: No, you will earn a lower interest rate on the entire account balance in any month you make a withdrawal
  Age of applicant: Not stated
  How to open account: Branch, online and post
  Special conditions: As far as I can see, you do not have to take out a mortgage with Newcastle BS to earn this interest rate. If you do take out a mortgage with Newcastle BS after holding this account for at least 12 months then you will receive a Ј500 or Ј1,000 cash bonus. Deposits can be made at the beginning of each calendar month but interest is paid at the account month (from anniversary of opening the account), not the calendar month and you must make a payment and no withdrawals in an account month to get the bonus interest (see post 2758 by Ed-1). Five forumites including Barney1954 in post 2705 and bristolleedsfan in post 2727 report being able to open an issue 2 account in addition to holding an issue 1 account.
  Cumberland BS First Home Saver (Issue 2)
  Interest rate: 2.5% gross p.a. / AER variable
  Monthly payment: Ј100-Ј1,500
  Miss any payments: If you miss payments then you will not be eligible for the cashback deal
  Penalty-free withdrawals: Withdrawals are with either 90 days' notice or instant with 90 days' loss of interest (except if you are closing the account in order to purchase a home in which case the account is closed without penalty)
  Age of applicant: Minimum age 16 years old
  How to open account: Branch
  Special conditions: You can earn Ј250 cashback on one of their mortgages if you hold this account for at least 6 months. You need to have a Cumberland BS current account and never had a mortgage before in order to open this account.
  Nationwide BS Save to Buy (Issue 2) Account
  Interest rate: 2% gross p.a. / AER variable from 1st August 2014
  Monthly payment: Ј50 - no specified limit (but note that interest rate on any balance above Ј20,000 is 0.25%)
  Miss any payments: No loss of interest but see details of restricted eligibility to apply for a Nationwide BS Save to Buy mortgage if you miss too many payments
  Penalty-free withdrawals: No withdrawals but you can close the account early without penalty
  Age of applicant: Age 18 years old or older
  How to open account: Branch only
  Special conditions: You can hold this account for a maximum of 3 years. You need to be a first time buyer or home mover (see their definition on the product details).
• 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 below can do this.
  Nationwide FlexDirect Account
  Paying 5% fixed for 12 months on Ј2,500. This is a current account. You need to pay in Ј1,000 per month.
  TSB Classic Plus Account
  Paying 5% fixed on Ј2,000. This is a current account. You need to pay in Ј500 per month.
  Lloyds Bank Club Lloyds Current Account
  Paying 1.00% AER/1.00% gross variable on balances from Ј1 to Ј1,999.99, 2.00% AER/1.98% gross variable on balances of Ј2,000-Ј3,999.99 and 4.00% AER/3.93% gross variable on balances of Ј4,000 to Ј5,000. The interest rate applies to your whole balance up to Ј5,000. No interest is paid on amounts over Ј5,000. Each year, you also get annual Gourmet Society membership or 6 Vue cinema tickets or annual magazine subscription from a list of 14 printed or digital titles. You have to pay in Ј1,500 per month and pay out 2 direct debits per month.
  Bank of Scotland Current Account with Vantage Option
  Paying 3% on Ј3,000-Ј5,000, 2% on Ј1,000-Ј2,999.99, 1.5% on Ј1-Ј999.99 from 27th June 2011. You have to pay in Ј1,000 per month. Although this is a current account, some people have been opening multiple accounts, transferring Ј1,000 around between the accounts and effectively using these accounts as savings accounts. There are several threads on this subject, e.g. see this thread.
  Tesco Bank Current Account
  Paying 3% on up to Ј3,000 from 10th June 2014. You have to pay in Ј750 per month. Collect Tesco Clubcard points by using your debit card with this account. You can open two of these accounts.
  Santander 123 Current Account
  Costs Ј2 per month but pays 3% interest if you have a balance between Ј3,000 and Ј20,000 and pays 1% cashback on water and council tax bills, 2% cashback on gas and electricity bills, and 3% cashback on mobile phone, landline, broadband and paid-for TV packages.
  Clydesdale Bank Current Account Direct
  Paying 2% fixed until March 2015 on Ј3,000. You have to pay in Ј1,000 per month. You can have two accounts. Money_Man_Steve report in post 2505 that you have to go in to a branch to complete your application if you apply online but blindman in post 2509 and Archi Bald in post 2512 were able to open one completely online with electronic ID verification.
  Yorkshire Bank Current Account Direct
  Same details as the Clydesdale Bank Current Account Direct.
• Have reserved this post for future use.
• What's weird about that?
• Well done SS2, you're a star.
• These accounts currently seem a good home for most of your savings - especially the ones with high fixed interest rates.
  I'll have all of my spare cash in these accounts by April 2008.
• Thanks Old Slaphead and bristolleedsfan, I have incorporated your information on the 6 weeks rule for the Coventry First account into post 7.
• This is a list of how my use of Regular Saver Accounts is producing pretty favourable returns. This will be the state of play by mid December. Twenty nine (29) currently on the go earning about 7.40% GROSS on a Ј55,700 total with Ј8350 deposited in December. The Monmouthshire BS at the bottom will probably be emptied down to Ј250 (I won't close it as it is a carpetbagging account) if a 7% Bond comes along.
  I also hope to grab the 10% Abbey Saver in December as I recently opened an Abbey 8% Current Account (used as one of my RS feeders) and possibly the First Direct 8% but I don't have high hopes as I already have the HSBC one.
  For those who are wondering how these are funded the answer is in maturing Regular Savers combined with my modest wages.
  In December I have a Derbyshire RS maturing (Ј3000 plus interest) and also the Ipswich RS2 (Ј3250 plus interest). This money (Ј6250 plus interest) will be used towards the January payments (estimated to be Ј7500).
  Likewise in January I have an Abbey RS Ј3000 and Yorkshire BS Ј3600 maturing (Ј6600 plus interest) to be used towards for the February payments, (again estimated to be Ј7500).
  Now the Estimated Interest column is what I use to show the overall gain if all the money was allowed to stay in for a WHOLE year. The money doesn't stay in for the WHOLE year as it is DRIP-FED in. but does give a very accurate snapshot of what the money is earning WHILE IT IS IN A REGULAR SAVER. This is the method I use to work out the overall percentage of all the Regular Savers combined.
  [html] DECEMBER 2007
  Current Monthly Estimated
  RATE BS/BANK Holding Deposit Interest
  1 8.25% Loughborough Ј2500 Ј250 Ј206.25
  1 8.10% West Brom Ј3000 Ј1000 Ј243.00
  1 8.00% Lloyds Ј5000 Ј250 Ј400.00
  1 8.00% HSBC Ј1750 Ј250 Ј140.00
  1 8.00% Chorley Ј2250 Ј250 Ј180.00
  1 7.60% Ipswich RS2 Ј3250 Ј250 Ј228.00 (13 payments permitted)
  8 7.55% Skipton Ј6000 Ј2000 Ј453.00 (7 Specials and 1 Xmas Saver)
  1 7.50% Britannia RS2 Ј500 Ј250 Ј37.50
  1 7.50% Chorley Gall Ј250 Ј250 Ј18.75
  1 7.50% Leek Ј2750 Ј250 Ј206.25
  2 7.25% Abbey 6&7 Ј3500 Ј500 Ј253.75
  2 7.15% Ipswich RS3 Ј4000 Ј500 Ј286.00
  1 7.10% Yorkshire BS Ј8200 Ј500 Ј582.30
  1 7.05% Yorkshire BS Ј3600 Ј100 Ј253.80 (3yr. Mine matures Jan 2008)
  1 7.00% Bath BS Ј3750 Ј250 Ј192.50
  1 7.00% Principality Ј1000 Ј500 Ј70.00
  1 7.00% Halifax Ј500 Ј250 Ј35.00 (now in 4th year)
  1 6.80% Scarborough Ј1500 Ј250 Ј102.00 (was Ј6K. Withdrew Ј5K )
  1 6.75% Nationwide Ј1750 Ј250 Ј118.13
  1 6.70% Monmouthshire Ј2800 Ј250 Ј187.60
  29 7.40% Ј55700 Ј8350 Ј4263.73
  [/html]
• Yes .ONLY 1!. Particularly annoying as it is a 2 year saver and I was the OP on the Loughborough BS thread.