Savers who are committed to locking money away for a set period may be interest in a fixed term regular saver account. These deals require a set amount to be paid over the term, with penalties for those who miss payments. Here is a selection of the current best fixed regular savings accounts.
Principality Building Society – Regular Saver Bond Issue 10
This account, fixed for one year, pays 4.00pc on maturity. Investments range between £20 and £500 and contributions can be amended. Twelve payments are required over a year. Savers who miss payments or close the account will receive the Instant Access lowest tier rate for the entire term. Early access is not allowed. The account is available to savers aged 16 and over and can be operated in branch or by post.
Santander – Fixed Monthly Saver 12
This account pays 4.00pc on maturity. Savers can invest between £20 and £250. Contributions cannot be amended. The account is fixed for thirteen months and twelve payments are required over a year. If payments are missed, the rate will reduce to 0.10pc for that month. Early access is allowed on account closure only. The account can be operated by savers aged 16 and over in branch only.
Barclays Bank – Monthly Savings
Barclays Bank's Monthly Savings account, fixed for twelve months, pays 3.20pc. Savers can invest between £20 and £250. Contributions must be made by standing order and can be amended. Any withdrawals will incur a 0.21pc loss of interest for that month. The account is available to savers aged 16 and over and can be operated in branch, by telephone or online.
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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 Any products featured may be withdrawn by their provider or changed at any time.
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