Product Focus: Regular Savings Accounts - Savings - News - Moneyfacts

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Product Focus: Regular Savings Accounts

Product Focus: Regular Savings Accounts

Category: Savings

Updated: 22/01/2010
First Published: 10/06/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Savers investing a lump sum are having to scour the markets to find the best interest rates on offer for their hard earned cash. For those that do have a lump sum to invest but also have additional forms of disposable income, a regular savings account can also form an important part of an overall savings plan. Rates may look a little better but savers must also make sure that they can commit to a regular deposit.

Barclays Bank – Monthly Savings

Barclays Bank's Monthly Savings at a rate of 5.84 per cent for 12 months has headed the Moneyfacts' best buys for a long time. Savers can invest between £20 and £250 per month into the account, which is operated in branch, online or by telephone. Savers can get instant access to their money, but 2.85 per cent loss of interest is payable if a withdrawal is made.

Alliance & Leicester - Premier Regular Saver

Alliance & Leicester has a Premier Regular Saver, which pays a fixed rate of 7.00 per cent for one year. The account is open to customers who open a new Premier Current account at the same time. Savers can invest between £10 and £250 per month into the account, but before committing funds, savers need to ensure they don't need the money as access is available on account closure only.

Norwich & Peterborough BS – Family Regular Saver

Savers with dependant children aged up to 16 year old (18 if in full time education) are being offered a rate of 6.00 per cent from Norwich & Peterborough BS in its Family Regular Saver. Savers can invest between £1 and £250 per month into the account, but if a payment is missed or a withdrawal is made, a 3.00 per cent loss of interest penalty is payable.

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 Any products featured may be withdrawn by their provider or changed at any time.

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