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Product focus: Regular Savings Accounts

Product focus: Regular Savings Accounts

Category: Savings

Updated: 22/01/2010
First Published: 09/09/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

In the last few months a number of banks and building societies have increased the rates they offer on their regular savings accounts in order to attract new money. By requiring savers to invest a regular amount each month the providers can bank on a steady income stream.

Buckinghamshire Building Society – Chiltern Gold Mine

Buckinghamshire Building Society is offering a market leading fixed rate of 6.25pc on its Chiltern Gold Mine account. The account is open to savers bringing new money to the provider and can be operated in branch or by post. Savers can invest between £50 and £250 per month into the account. Access to funds is not permitted during the one year term.

Norwich & Peterborough Building Society – Family Regular Saver

Savers with dependant children aged up to 16 (18 if in full time education) can get a rate of 6.00pc from Norwich & Peterborough Building Society on its Family Regular Saver. The rate is fixed for one year, then variable and savers can invest up to £250 per month. Savers can get instant access to their money, but if a withdrawal is made or a payment is missed then a 3.00pc loss of interest penalty is payable.

Lloyds TSB – Monthly Saver

Lloyds TSB is offering a fixed rate of 5.00pc on its Monthly Saver account. Savers can invest between £25 and £250 into the account, which is operated in branch, online or by telephone. The account has a 12 month term, but savers can get instant access to their money without any penalty should they need too.

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 Any products featured may be withdrawn by their provider or changed at any time.