Savers who are disciplined with their finances and are willing to lock their cash away for a set period, may be suited to a fixed term regular savings account. These deals can often pay some of the best savings rates in the market and offer the reassurance of a guaranteed return. Here are the current best fixed term regular savings accounts.
Santander – Fixed Monthly Saver 12
Santander's thirteen month bond pays 4.00% on maturity. Savers can invest between £20 and £250. Contributions must be made by standing order and cannot be amended. Twelve payments must be made within a year. Savers who miss payments will incur a rate reduction down to 0.10% for that particular month. There is no limit on how many withdrawals can be made during the term. Early access is allowed on closure only. The account is available to savers aged 16 and over and can be operated in branch only.
Barclays Bank – Monthly Savings
This 12 month bond from Barclays Bank pays 3.20%. Investments range between £20 and £250. Contributions must be made by standing order and can be amended. There is no restriction on how many withdrawals are allowed during the twelve month term. Funds can be accessed without advance notice, although this is subject to 0.21% loss of interest for that month. The account can be operated by savers aged 16 and over, in branch, by telephone and online.
Northern Rock – Regular Saver Issue 2
This account pays an annual rate of 2.75% on 1st September 2011. Savers can invest between £1 and £250 and contributions can be amended. Funds can be accessed without advance notice or penalty. The account is available to savers aged 14 and over and can only be operated in branch.
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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 Any products featured may be withdrawn by their provider or changed at any time.
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