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Product focus: Regular savings accounts

Product focus: Regular savings accounts

Category: Savings

Updated: 18/02/2010
First Published: 18/02/2010

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 It is now over 6 months old so the content may be out of date.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 are willing to invest a fixed amount each month may be best suited to a regular savings account.

These accounts tend to state conditions on the number of contributions and withdrawals allowed within a year and penalties, such as loss of interest, will often apply if these are not met.

The following accounts all require a minimum monthly investment of £10 or less.

Stroud & Swindon Building Society – Regular Saver Plus Issue 2



This account pays a rate of 4.50% on its anniversary. Savers can invest between £10 and £250 each month of the course of twelve months by standing order and contributions can be amended. Twelve payments are required over the course of a year. Missed payments and exceeding more than one withdrawal a year will result in a 2.5% loss of interest. Cash can be accessed without advance notice and withdrawals must be made by BACS. The account can be operated by savers aged 18 and over in branch, by post or telephone.

Loughborough Building Society – Regular Savers Account +3



This account pays a rate of 4.00% on its anniversary. Savers can invest between £10 and £500 per month. Eleven payments must be made within a year and contributions can be amended each year on the anniversary of the account opening. Funds can be withdrawn instantly. More than one missed payment per year or exceeding one withdrawal per year will result in the rate reducing by 1.00%. The account can be operated by savers aged 16 and over, in branch or by post.

Norwich & Peterborough Building Society – Regular Saver



This account pays a rate of 4.00% on its anniversary, including a bonus of 3.00% for 12 months. The gross rate is guaranteed to be fixed at 4.00% for 12 months. Savers can invest between £1 and £250 and contributions can be amended. Twelve payments must be made within a year, however, failure to make the required number of payments will result in a 1.5% loss of interest. This penalty will also apply if more than one withdrawal is made in a year. No notice is required to access funds and the account can be operated by savers of all ages, in branch, by post, telephone or online.

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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