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Product focus: Regular savings account

Product focus: Regular savings account

Category: Savings

Updated: 18/12/2009
First Published: 20/11/2009

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 It is now over 6 months old so the content may be out of date.

Regular savings accounts are best suited to savers who are disciplined with their cash and are willing to make monthly fixed amount deposits. Despite the tight restrictions on these types of accounts, they tend to pay a better rate of return compared to their other savings counterparts.

Buckinghamshire Building Society – Chiltern Gold Mine Issue 3

This account, open to new money only, pays a rate of 5.10pc on maturity. Savers must invest deposits of between £25 and £250 each month, although the contribution amounts cannot be amended. Failure to make the required number of deposits within the year will mean the rate reverts to the Easy Access account rate for the remainder of the entire period, although funds will also be transferred to this account at the end of the term. The account is fixed for one year and early access is not allowed. There are no age restrictions for savers and the account can be operated in branch or by post.

Stroud & Swindon Building Society – Regular Saver Plus Issue 2

This account pays a rate of 4.50pc on its anniversary. Monthly investments range from £10 to £250 and cannot be amended. If payments are missed or more than one withdrawal is made during the twelve months, savers will incur a 2.50pc loss of interest penalty. Minimum withdrawal allowed is £100. The account is available to savers aged 18 and over and can be operated in branch, by post or telephone. The initial deposit must be made by cheque.

Principality Building Society – Regular Saver Bond Issue 9

Principality Building Society's Regular Saver Bond pays a rate of 4.50pc on maturity. Savers must invest between £20 and £500. Failure to make the required number of payments over the twelve months or early closure of the account, will result in the rate reverting to the Instant Access lowest tiered rate for the remainder of the term. Early access is not allowed. The account can be operated by savers aged 16 and over in branch or by post.

Find the best savings accounts for you - Compare regular 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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