Regular savings accounts can offer some of the best rates in the savings market, although they are best suited to those with a disciplined approach to their money.
Considered to be a niche product in the savings world, these accounts tend to have strict conditions which must be adhered to, such as making a set monthly payment and not withdrawing funds.
It is always a good idea to check an account's terms and conditions prior to committing, to make sure it suits your lifestyle and financial needs.
West Brom BS Fixed Rate Regular Saver (Adult)
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Penny says… "West Brom Building Society sits at the top of the regular savings market with this fixed deal paying 4.10% on its anniversary.
"Ten deposits must be made in a year, with a 3.60% loss of interest applying to those who fail to meet the condition. Applicants must also be aware that the account can only be operated in branch."
krbs Regular Savings
Penny says… "Unlike many regular savings accounts, this deal from krbs offers plenty of flexibility with both accessing funds and making deposits.
"Whilst a monthly investment between £25 and £500 is required, this account will appeal to savers who prefer to make as many contributions as they like and access their money instantly, without penalties."
Norwich & Peterborough Building Society Regular Saver
Penny says… "Sitting in bronze position is the Regular Saver. Despite this account paying a competitive fixed rate of return for the initial twelve months, savers must adhere to the strict terms and conditions or face a 1.5% loss of interest.
"Contributions can be amended at the provider's discretion."
Cheshire Building Society Platinum Monthly Saver Issue 7
Penny says… "This account pays a competitive rate to savers investing between £100 and £500 for eleven months of the year.
"Savers can access their money once a year; however, any further withdrawals will be subject to a 3.50% loss of interest."
Principality Building Society 1 Year Regular Saver Bond Issue 12
Penny says… "Available to savers who are able to make investments between £20 and £500 for every month of the year, this account pays a competitive fixed rate of 3.50%.
"Failure to adhere to the strict terms and conditions will result in the rate reverting to the instant access rate of 0.10%."
Marsden Building Society Branch Saver
Penny says… "This account is available to savers with an existing instant access savings account with Marsden Building Society.
"Funds can be accessed, although this is subject to the account being closed." Information & Rates correct as at: 06/03/2013
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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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