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Product Focus: Regular savings ISAs

Product Focus: Regular savings ISAs

Category: Savings

Updated: 19/08/2010
First Published: 19/08/2010

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 It is now over 6 months old so the content may be out of date.

A small number of providers currently offer regular savings ISA accounts.

These products have the same terms and conditions as standard regular savings accounts, such as a fixed monthly deposit and withdrawal restrictions, but savers do not have to pay tax on their interest.

Here is a selection of the current best regular savings ISAs.

Stroud & Swindon Building Society – Regular Saver ISA

This account pays an annual rate of 3.75%. Savers can invest between £25 and £425. Contributions must be made by standing order and cannot be amended. Twelve payments are required in a year. Funds can be accessed instantly, although a 2.75% loss of interest will apply to savers who exceed more than one withdrawal a year or miss payments. The account is available to savers aged 16 and over and can be operated in branch or by post.

Monmouthshire Building Society – ISA Saver

The ISA Saver account pays an annual rate of 2.50%. Investments range between £20 and £425. Contributions must be made by direct debit and can be amended up to the maximum monthly payment amount. Twelve payments must be made within a year. Savers can make an additional payment, between 1st March and 5th April, to top up the balance to the maximum ISA limit. Funds can be accessed instantly, although savers will incur a 1% loss of interest for making more than one withdrawal a year or missing payments. The account can be operated by savers aged 16 and over in branch, by post or online.

Britannia – Easy Monthly Saver Cash ISA

This account from Britannia pays 2.10% on its anniversary. Savers can invest between £20 and £425. Contributions must be made by direct debit and can be amended, but only on the anniversary date. Twelve payments are required in a year. No advance notice is required to access funds. Savers who miss payments or exceed more than one withdrawal a year will incur a 2.00% loss of interest for that anniversary year. The account is available to savers aged 16 and over and can be operated in branch.

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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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