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Product focus: Regular savings accounts

Product focus: Regular savings accounts

Category: Savings

Updated: 29/01/2010
First Published: 28/01/2010

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 It is now over 6 months old so the content may be out of date.

The minimum deposits required for regular fixed rate bonds vary from £1 up to £500, to suit different customers' needs.

The following accounts are best suited to savers looking to invest a minimum deposit of £10 or more and who would like the flexibility of amending their monthly contributions.

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 over a year and contributions can only be made by standing order, although the initial deposit has to be made by cheque. A 2.50% loss of interest will be applied for missed payments and making more than one withdrawal within twelve months. No notice is required to access funds and withdrawals must be made by BACS. The account can be operated in branch, or by post or telephone by savers aged 18 and over.

Loughborough Building Society – Regular Savers Account +3

The Regular Savers Account +3 pays a rate of 4.00% on its anniversary. Savers can invest between £10 and £500 each month and contributions can be amended on the anniversary of the account opening. Eleven payments must be made within one year and the rate will be reduced to 1.00% if payments are missed. Cash can be accessed instantly, although the aforementioned penalty will also apply if more than one withdrawal is made within a year. The account can be operated by savers aged 16 and over, in branch or by post.

Beverley Building Society – Monthly Saver

This account pays a rate of 3.10%. Savers can invest between £10 and £1,000 each month although contributions can only be amended once a year. Funds can be accessed instantly. 30 days' loss of interest will apply if more than one withdrawal is made within twelve months and the rate will reduce by 3.00% if any payments are missed. A £25 fee will apply for each BACS transfer made. The account can be operated in branch and by post by savers aged 16 and over.

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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