Regular saver from Furness BS hits the charts | Product News - Moneyfacts

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Regular saver from Furness BS hits the charts

Regular saver from Furness BS hits the charts

Category: Savings
Date: 05/11/2014

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 It is now over 6 months old so the content may be out of date.

Furness Building Society has added to its savings offerings with a new children's bond and a one-year regular saver, which has catapulted straight into the best buys.

The basics…

1 Year Festive Saver pays 2.55% on maturity, which places it firmly among the market-leaders in the Moneyfacts charts.

Meanwhile, 3 Year Fixed Rate Children's Bond pays 2.30% yearly.

The finer details…

Both of these accounts can be opened and operated in branch and by post.

The regular savings account can be opened with a minimum deposit of £1 up to a maximum of £1,250. Twelve consecutive monthly payments of at least £1 (max £250) must then be made. The payments can be amended at any time and further additions can also be made. However, missing a payment will lead to closure of the account. Funds can be accessed prior to maturity upon closure only.

The children's bond can be opened with an initial deposit of £1,000. It must be opened as a trustee account and can be set up for any child under the age of 16. Withdrawals from the account are not permitted, but early closure is possible, although this will result in the loss of 180 days' interest.

Why we like them…

The one-year regular saver has a highly competitive rate, which has seen it take its place in the Moneyfacts charts. As a result, this account is likely to appeal to savers who want to start putting together a fund for next year's Christmas spending. The ability to amend payments and access funds early, albeit subject to closure of the account, are added bonuses.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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