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: 01/07/2010
First Published: 01/07/2010

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 It is now over 6 months old so the content may be out of date.

Regular savings accounts require a set deposit to be paid each month, which is agreed between the customer and provider.

Although these accounts offer some of the best rates in the market, it is best to check their terms and conditions, as failure to comply could result in penalties such as loss of interest and even account closure.

Here is a selection of the current best accounts requiring a minimum deposit of £25.

Scottish Building Society – Regular Bonus Saver

The Regular Bonus Saver pays an annual rate of 4.00%. Savers can invest between £25 and £500. Contributions cannot be amended and eleven payments must be made in a year. Funds can be accessed immediately. Missed payments and exceeding more than one withdrawal a year will result in the rate reducing by 3.00%. The account is available to savers of all ages and can be operated in branch or by post.

Buckinghamshire Building Society – Chiltern Gold Builder Issue 2

This account pays an annual rate of 3.50%. Investments range between £25 and £250 and contributions cannot be amended. Twelve payments must be made in a year and the initial deposit must be made by cheque. Funds can be accessed immediately. Must be new money to the institution. The rate will revert to that of the Easy Access account for the entire period if payments are missed or more than one withdrawal is made in a year. The account can be operated in branch or by post by savers of all ages.

Mansfield Building Society – Regular Savings

Mansfield Building Society's Regular Savings account pays an annual rate of 3.10%. The AER is guaranteed to remain at least 3.00% above basic AER rate on Prime Access. Savers can invest between £25 and £500 and contributions can be amended. Twelve payments must be made in a year. Funds can be accessed immediately, although only two withdrawals are allowed in a year. Exceeding this condition will result in 90 days loss of interest. The account is available to savers of all ages and can be operated in branch and by post.

Find the best savings rates for you - Compare 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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