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Product focus: Regular savings accounts

Product focus: Regular savings accounts

Category: Savings

Updated: 15/07/2010
First Published: 15/07/2010

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 It is now over 6 months old so the content may be out of date.

Savers who can commit to putting away a fixed amount each month, without wanting to their access funds, may be well suited to a regular savings account. Here is a selection of the best fixed term regular savings accounts currently on offer.

Nottingham Building Society – Branch Fixed Rate Regular Saver Issue 1

This account pays a rate of 5.00pc on 1 February 2011. Savers can invest between £10 and £100, while contributions can be amended provided they are within these limits. Early access to funds is not allowed. On maturity, the rate will transfer to that available on the Branch Moneybuilder Account or its nearest equivalent. The account is open to savers aged 16 and over and can be operated in branch only.

Furness Building Society – Furness Monthly Saver

This one year bond pays 4.00pc on maturity. Savers can invest between £25 and £250, and allows contributions to be amended. A minimum deposit of £1,000 is required to open the account, while twelve payments are required during the term. Missed payments or accessing funds early will result in the account being closed. On maturity, the account will transfer to Furness' Notice 90 account. The account is available to savers of all ages and can be operated in branch or by post.

Principality Building Society – Regular Saver Bond Issue 10

This one year bond pays 4.00pc on maturity. Investments can range between £20 and £500 and contributions can be amended. Twelve payments are required during the term and if payments are missed, or the account is closed early due to accessing funds, the rate will revert to the lowest tiered rate of the Instant Access account. The account is available to savers aged 16 and over and can be operated in branch or by post.

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 Any products featured may be withdrawn by their provider or changed at any time.

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