Building societies retain consistency crown - Savings - News - Moneyfacts

News

Building societies retain consistency crown

Building societies retain consistency crown

Category: Savings

Updated: 16/04/2009
First Published: 16/04/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
A consistency survey conducted by Moneyfacts has found that savers are more likely to get the best returns on the funds by banking with building societies.

Against a backdrop of a plummeting base rate, which has fallen to a record low of 0.5%, consumers are finding it increasingly difficult to find accounts that offer a decent rate of interest on their money.

The Moneyfacts consistency survey April 2009 found that Bath BS, Principality BS and Teachers BS are the most consistent providers, while Sainsbury's Finance's Internet Saver is the most consistent internet account.

Furthermore, Beverley BS's Postal Account has retained the title of the most consistent no notice account over both 18 and 36 months.

"Many savers don't have the time or inclination to keep switching between accounts to secure best buy rates," said Michelle Slade, analyst at Moneyfacts.co.uk.

"Instead they look for an account offering a competitive rate of interest which is maintained despite market movements.

"Taking more than three quarters of the top spots, building societies once again increase their dominance in the Moneyfacts consistency survey. Savers looking to make the most of their money shouldn't just look to their bank for their savings needs."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!
 
Close