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Consistent savings survey (April 2008)

Consistent savings survey (April 2008)

Category: Savings

Updated: 31/10/2008
First Published: 03/04/2008

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 It is now over 6 months old so the content may be out of date.

Amongst all the current uncertainty surrounding the personal finance industry, the Moneyfacts.co.uk consistent savings survey shows that not all good savings deals are here today, gone tomorrow.

It is still possible to find a good home for your savings and a decent rate of interest without having to transfer your account to a new provider every few months.

There are three main customer types that these accounts will appeal to:

  1. Consumers fed up with the rates being cut on their savings account by more than the cut in base rate, or increased by less than a base rate rise.
  2. People who don't have the time or inclination to switch between short term savings deals with introductory bonuses.
  3. Customers who find that their nest egg is attracting a derisory rate of interest - in some cases less than 1.5% gross.

Highlights from the April 2008 savings consistency report:

31 of the 48 consistent savings accounts highlighted are offered by building societies.

Internet SavingsPride of place goes to Sainsbury's Bank (Internet Saver), most consistent over both the last 18 and 36 months.

Mini Cash ISA
NS & I retains top spot over 18 months with its Direct ISA, whilst Yorkshire BS is still number one over 36 months with its e-ISA.

Notice Savings (No bonus)
Anglo Irish Bank continues to dominate both the 18 and 36-month chart with its 7-day notice account.

No Notice Savings (No bonus)
Anglo Irish Bank is number one over 18 months and 36 months with its easy access deposit account.

Moneyfacts.co.uk is the only comparison site that helps its customers make better financial decisions by offering such a comprehensive choice of savings best buys. Whether a consumer wants a short-term deal with an introductory bonus or a decent rate of return from a consistently good performing account, they have access to details on both types of account.

Compare Most Consistent Savings Accounts

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 Any products featured may be withdrawn by their provider or changed at any time.

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