Top 6 cracking regular savings accounts - Savings - News - Moneyfacts

News

Top 6 cracking regular savings accounts

Top 6 cracking regular savings accounts

Category: Savings

Updated: 08/03/2013
First Published: 06/03/2013

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 It is now over 6 months old so the content may be out of date.

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.

Top 6 regular savings accounts:

West Brom BS

West Brom BS
Fixed Rate Regular Saver (Adult)

4.10% AER/Gross
  • Rate fixed for one year
  • Investments between £10 and £250
  • Contributions can be amended
  • 10 payments required per year
  • Rate will reduce by 3.60% if more than two payments missed
  • Can be operated in branch only

See best buys

Penny saysPenny 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
krbs
Regular Savings

4.00% AER/Gross
  • Variable rate
  • Investments between £25 and £500
  • Contributions can be amended
  • Unlimited no notice withdrawals allowed
  • Unlimited number of deposits
  • Can be operated in branch only

See best buys

Penny saysPenny 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."

N&P
Norwich & Peterborough Building Society
Regular Saver

4.00% AER/Gross
  • Rate fixed for one year, then variable
  • Rate includes introductory bonus of 2.15% for twelve months
  • Investments between £1 and £250
  • Contributions can be amended
  • Twelve payments required per year
  • Rate will reduce by 1.5% if required number of payments missed
  • 1.5% loss of interest also applies for exceeding one withdrawal per year or if account is closed
  • Can be operated in branch only

See best buys

Penny saysPenny 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
Cheshire Building Society
Platinum Monthly Saver Issue 7


4.00% AER/Gross
  • Variable rate
  • Investments between £100 and £500
  • Contributions can be amended
  • Eleven payments required per year
  • Rate will reduce by 3.50% if more than one payment missed or more than one withdrawal made
  • Can be operated in branch only

See best buys

Penny saysPenny 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
Principality Building Society
1 Year Regular Saver Bond Issue 12

3.50% AER/Gross
  • Fixed rate for one year
  • Investments between £20 and £500
  • Contributions can be amended
  • Twelve payments required per year
  • Principality BS instant access lowest tier rate paid for entire term if payment missed or withdrawals made
  • Can be operated in branch or by post

See best buys

Penny saysPenny 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
Marsden Building Society
Branch Saver

3.50% AER/Gross
  • Variable rate
  • Investments between £100 and £250
  • Contributions can be amended
  • Twelve payments required per year
  • Access to funds upon account closure only
  • Can be operated in branch only
  • Savers must hold an existing instant access account with Marsden BS

See best buys

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

What next?

Savings guides
Search all regular savings accounts
Regular savings calculator

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.

Related Articles

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!
 
Close