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Product focus: Savings accounts

Product focus: Savings accounts

Category: Savings

Updated: 16/09/2010
First Published: 17/09/2010

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 It is now over 6 months old so the content may be out of date.

Many providers incentivise their current account customers by offering preferential rates on their savings.

In many cases the customer must hold a fee paying current account, but this isn't always the case.

Below is a selection of accounts that are open to both new and existing current account customers.

HSBC – Regular Saver (Preferential Rate)

Customers holding or opening a Premier, Advance, Passport or Graduate Advance account with HSBC are being offered a fixed rate of 8.00%. Savers can invest between £25 and £250 per month into the account and contributions can be amended if required. The account has a one year term and if access is required the account is closed and the flexible saver rate becomes payable, currently 0.10%.

Santander – Super Fixed Rate Monthly Saver

Santander is offering a rate of 6.00% on its Super Fixed Rate Monthly Saver account, which is open to customers holding the market leading Preferred In Credit Current Account. Between £20 and £250 can be invested into the account, but once agreed payments can't be amended. Access is available on closure only and 0.10% is payable for the month any payment is missed.

first direct – Regular Saver

Customers holding the popular 1st Current account from first direct are being offered a rate of 5.00% on its Regular Saver. Savers can invest between £25 and £300 per month into the account and contributions can be amended. Earlier access is available on closure only with the account transferring to the first direct savings account, which currently pays just 0.05%.

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 Any products featured may be withdrawn by their provider or changed at any time.

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