Dudley Building Society has reduced the rate paid on its one-year regular savings account by 0.40%, but despite this, it has retained its place on the Moneyfacts charts thanks to its continuing competitiveness.
One Year Regular Saver Issue 3 now pays a variable rate of 2.50% on maturity, enabling it to remain among the top 10 accounts of its sector.
This account can be opened and operated in branch and by post with an initial deposit of between £100 and £400. Savers should note that an overall investment limit of £4,800 applies.
Monthly contributions of up to £400 can be made, but there is no required number of deposits per annum. Payments can therefore be missed as well as amended at any time. Unlimited further additions can also be made, provided the monthly investment limit is not exceeded.
Withdrawals, on the other hand, are not permitted during the term, but savers can access funds early upon closure of the account. It should also be noted that the account will revert to a One Year Regular Saver Instant Access account at maturity.
This deal may have had its rate reduced, but it still remains among the top accounts of its sector, which is sure to please savers. The fact that it does not require a certain number of payments will appeal to those who are not entirely confident about their ability to contribute, while the flexibility of being able to amend payments as well as make further deposits gives this deal some added sparkle.
Moneyfacts rating: Excellent
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