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Product focus: Savings accounts

Product focus: Savings accounts

Category: Savings

Updated: 23/02/2010
First Published: 11/02/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Most regular savings accounts allow instant access to cash without notice, although it is important to remember that some accounts limit how many withdrawals can be made in a year. Failure to adhere to this condition can result in a penalty such as loss of interest. The following three accounts all allow just one cash withdrawal a year.

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 each month of the course of twelve months by standing order and contributions can be amended. Twelve payments are required over the course of a year. Missed payments and exceeding more than one withdrawal a year will result in a 2.5pc loss of interest. Cash can be accessed without advance notice and withdrawals must be made by BACS. The account can be operated by savers aged 18 and over in branch, by post or telephone.

Buckinghamshire Building Society – Chiltern Gold Builder

The Chiltern Gold Builder pays an annual rate of 4.12pc. Between £25 and £250 can be invested each month over twelve months. The Easy account rate will be paid for the entire period if payments are missed or more than one withdrawal is made within a year. Transfers must be new money to Buckinghamshire Building Society. The account is open to savers of all ages and can be operated in branch or by post, although the initial payment must be made by cheque.

Loughborough Building Society – Regular Savers Account +3

This account pays a rate of 4.00pc on its anniversary. Savers can invest between £10 and £500 per month. Eleven payments must be made within a year and contributions can be amended each year on the anniversary of the account opening. Funds can be withdrawn instantly. More than one missed payment per year or exceeding one withdrawal per year will result in the rate reducing by 1.00pc. The account can be operated by savers aged 16 and over, in branch or by post.

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 Any products featured may be withdrawn by their provider or changed at any time.