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: 08/07/2010
First Published: 08/07/2010

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 It is now over 6 months old so the content may be out of date.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 are disciplined with their money may be suited to a regular savings account.

Although strict terms and conditions tend to apply, these accounts can reward savers with some of the best rates in the market.

Here is a selection of the current top regular savings accounts.

Cheshire Building Society – Monthly Saver Issue 4

This new account from Cheshire Building Society pays a rate of 4.00% including a bonus of 2.00% until 31st July 2011. The gross rate is guaranteed to be equal to 1.50% above bank base rate until 31st July 2012 and equal to 3.50% above bank base rate until 31st July 2011. Savers can invest between £10 and £250 and contributions can be amended. Eleven payments must be made in a year. Funds can be accessed immediately. A 2.00% loss of interest will apply until 31st July 2011 if more than one payment is missed or more than one withdrawal is made. The account is available to savers of all ages and can be operated in branch only.

Norwich & Peterborough Building Society – Regular Saver

The Regular Saver pays 4.00% on its anniversary including a 2.00% bonus for twelve months. The gross rate is guaranteed to be fixed at 4.00% for twelve months. Savers can invest between £1 and £250 and contributions can be amended up to a maximum of £250 a month. Twelve payments must be made in a year. Funds can be accessed immediately. Missed payments, exceeding more than one withdrawal a year or account closure will result in a 1.5% loss of interest. The account is available to savers of all ages and can be operated in branch, by post, telephone and online.

Scottish Building Society – Regular Bonus Saver

This account pays an annual rate of 4.00%. Investments range between £25 and £500, although contributions cannot be amended. Eleven payments must be made in a year. Funds can be accessed immediately. Savers who miss payments or exceed more than one withdrawal a year will be subject to a 3.00% loss of interest. The account can be operated in branch or by post by savers of all ages.

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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