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Product focus: Regular savings accounts

Product focus: Regular savings accounts

Category: Savings

Updated: 18/02/2013
First Published: 12/03/2010

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 It is now over 6 months old so the content may be out of date.

Over the past few weeks, much attention has been focused on the ISA market in the run up to the new tax year. For savers who are not interested in ISAs and who wish to take out an account to which they can commit a set monthly payment to, regular savings may be of interest. Here are the current top three regular savings accounts.

Stroud & Swindon Building Society – Regular Saver Plus Issue 2


This account pays a rate of 4.50pc on its anniversary. Savers can invest between £10 and £250 and contributions can be amended so long as they are within the minimum and maximum limits. Twelve payments must be made during a year. Missed payments and exceeding more than one withdrawal a year will result in a 2.50pc loss of interest. No notice is required to access funds, although all withdrawals must be made by BACS. The account can be operated in branch, by post or online by savers aged 18 and over.

Buckinghamshire Building Society – Chiltern Gold Builder


The Chiltern Gold Builder pays an annual rate of 4.12pc. Savers can invest between £25 and £250 and twelve payments must be made during a year. The rate will revert to the Easy Access account for the entire period, if payments are missed or more than one withdrawal is made within the term. No notice is needed to access funds. Must be new money to the institution. The account can be operated in branch or by post by savers of all ages. The initial deposit must be made by cheque.

Loughborough Building Society – Regular Savers Account +3


The only regular savings account offered by Loughborough Building Society pays a rate of 4.00pc on its anniversary. Between £10 and £500 can be invested each month and contributions can be amended each year on the anniversary of the account opening. Eleven payments are required over the course of a year. Missed payments and exceeding more than one withdrawal a year will result in a 1.00pc reduction in rate. No notice is needed to access funds. The account can be operated in branch and by post by savers aged 16 and over.

Find the best savings accounts for you - Compare regular 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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