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Product Focus: Regular Savings Accounts

Product Focus: Regular Savings Accounts

Category: Savings

Updated: 22/01/2010
First Published: 22/07/2009

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 It is now over 6 months old so the content may be out of date.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 tend to offer higher rates than those found on a standard savings account, because customers can only invest small amounts each month and quite often only for a limited period. However, this is one area where the high street banks offer some of the most attractive deals.

Halifax – Regular Saver

Halifax is currently offering a rate of 5.00 per cent on its Regular Saver, which is fixed for one year. To qualify, savers must open a nominated account with Halifax at the same time. Savers can invest between £25 and £500 per month into the account, which can be operated online, in branch or by telephone. If access is required to funds or a payment is missed, then the account is closed and the web saver rate is payable.

Lloyds TSB – Monthly Saver

New and existing Lloyds TSB current account customers are being offered a fixed rate of 5.00 per cent on their Monthly Saver account. The account has a 12 month term and savers can invest between £25 and £250 per month into the account. Savers can get instant access to their money if required, without incurring any penalty.

Barclays Bank – Monthly Savings

Savers who invest between £20 and £250 per month with Barclays Bank are being offered a fixed rate of 4.17 per cent. The account has a 12 month term and can be operated online, in branch or by telephone. Savers can get instant access to their money during the term, but a 1.18 per cent loss of interest penalty will be payable for the month in which a withdrawal is made.

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 Any products featured may be withdrawn by their provider or changed at any time.

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