Building Societies Hold on to Savings Interest Rates Consistency Crown
Personal_Finance / Savings Accounts Oct 21, 2009 - 01:00 PM GMTBy: MoneyFacts
October 2009’s Moneyfacts Consistency Survey has once again seen building societies dominating the results. Today, building societies offer customers 77% of the most consistent savings accounts in the marketplace.
Key points of the October 2009 Moneyfacts Consistency Survey:
- 77% of the most consistent savings accounts are offered by building societies
- Birmingham Midshires and Bath Building Society have the most consistent products, with four products each in the consistency tables.
- Bimingham Midshires also is the most consistent internet savings provider, with three products featuring in the tables.
Louise Holmes, spokesperson at Moneyfacts.co.uk commented: “Once again, building societies have come out on top in the Moneyfacts Consistency tables.
“Savers have experienced a tough time recently and have found it difficult to find or rely on an account paying a consistently good rate. Many building societies appear to be listening to customer’s needs by keeping rates at consistent levels.
“While some savers are happy to move their funds to achieve higher returns, many don’t have enough time or simply do not want to keep moving accounts. These findings prove that savers feel most comfortable placing their hard-earned cash in an account that continues to pay a consistently good rate of interest, rather than one where a top rate is paid one minute and withdrawn the next.”
Cash ISA
Most consistent accounts over the last 18 months
Company |
Account |
Term |
Min Deposit |
Total Interest |
Gross % (AER) as at 1.10.09 |
Earl Shilton BS |
90 Day Cash ISA |
90 Day |
£10 |
£181.21 |
2.45% (2.45%)
|
Principality BS |
e-ISA |
None |
£1 |
£178.67 |
1.80% (1.80%)
|
Standard Life Bank |
Direct Access ISA |
None |
£1 |
£176.84 |
2.65% (2.65%) |
Harpenden BS |
Simply ISA |
Instant |
£1 |
£175.54 |
2.25% (2.25%)
|
Monmouthshire BS
|
Cash ISA Issue 2 |
30 Day |
£10 |
£174.57 |
2.50% (2.50%) |
Newbury BS |
Notice Cash ISA |
60 Day |
£50 |
£171.34 |
2.10% (2.10%) |
* = Introductory rate for a minimum of 6 months.
Based on interest earned on £3,000 in 18 months to 1 October 2009
Most consistent accounts over the last 36 months
Company |
Account |
Term |
Min Deposit |
Total Interest |
Gross % (AER) as at 1.10.09 |
Earl Shilton BS
|
90 Day Cash ISA |
90 Day |
£10 |
£453.06 |
2.45% (2.45%) |
Kent Reliance BS
|
Direct Cash ISA |
None |
£1 |
£448.00 |
1.42% (1.42%) |
Monmouthshire BS
|
Cash ISA Issue 2 |
30 Day |
£10 |
£447.05 |
2.50% (2.50%) |
Yorkshire BS
|
e-ISA |
None |
£10 |
£445.31 |
1.90% (1.90%) |
Leek United BS
|
Instant Access Cash ISA |
Instant |
£1 |
£438.99 |
2.00% (2.00%) |
Standard Life Bank |
Direct Access ISA |
None |
£1 |
£437.32 |
2.65% (2.65%) |
Based on interest earned on £3,000 in 36 months to 1 October 2009
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