19 Apr 2024

Building societies hold on to consistency crown

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.

For full details, please see appendix.

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that continues to pay a consistently good rate of interest, rather than one where a top rate is paid one minute and withdrawn the next.”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

Internet savings accounts (without bonus)

Most consistent accounts over the last 18 months

Company	Account	Term	Min Deposit	Total Interest (Gross)	Gross % (AER) as at 1.10.09
ICICI Bank UK	HiSAVE Savings	None	£1	£62.96	1.69% (1.70%)
Yorkshire BS	Internet Saver	Instant	£1	£60.68	2.10% (2.10%)
Newcastle BS	Net Savings Issue 7	None	£250	£58.54	1.84% (1.84%)
Halifax	Web Saver Extra	None	£1	£53.31	1.50% (1.50%)
Birmingham Midshires	Easy Internet Savings	None	£1	£53.25	1.75% (1.75%)
Birmingham Midshires	Direct Internet Savings	None	£1	£50.34	1.40% (1.40%)

Based on interest earned on £1,000 in 18 months to 1 October 2009

Most consistent accounts over the last 36 months

Company	Account	Term	Min Deposit	Total Interest (Gross)	Gross % (AER) as at 1.10.09
Birmingham Midshires	Direct Internet Savings	None	£1	£139.93	1.40% (1.40%)
Nationwide BS	e-Savings	None	£1	£127.83	0.45% (0.45%)
NatWest	e-Savings	None	£1	£121.62	1.00% (1.00%)
Coventry BS	NetSave Instant lll	Instant	£1	£120.69	0.50% (0.50%)
Norwich & Peterborough BS	NetmasterGold Save ll	None	£1	£118.37	0.50% (0.50%)
Halifax	Web Saver Cash Card	None	£10	£112.44	0.25% (0.25%)

Based on interest earned on £1,000 in 36 months to 1 October 2009 No Notice savings accounts (without bonus)

Most consistent accounts over the last 18 months

Company	Account	Term	Min Deposit	Total Interest (Gross) 18 months	Gross % (AER) as at 1.10.09
Beverley BS	Postal Account	None	£5,000	£545.43	1.65% (1.65%)
Birmingham Midshires	Easy Telephone Savings	None	£1	£532.45	1.75% (1.75%)
Teachers BS	Call Save	None	£1	£530.50	1.60% (1.60%)
Bath BS	Direct Saver	None	£2,500	£504.20	1.55% (1.55%)
Leeds BS	Postal Max	None	£2,500	£476.28	2.15% (2.15%)
Loughborough BS	Loughborough Postal	None	£100	£459.69	1.60% (1.60%)

Based on interest earned on £10,000 in 18 months to 1 October 2009

Most consistent accounts over the last 36 months

Company	Account	Term	Min Deposit	Total Interest (Gross) 36 months	Gross % (AER) as at 1.10.09
Beverley BS	Postal Account	None	£5,000	£1,429.10	1.65% (1.65%)
Teachers BS	Call Save	None	£1	£1,396.60	1.60% (1.60%)
Bath BS	Direct Saver	None	£2,500	£1,354.47	1.55% (1.55%)
Mansfield BS	Postal Tracker Three Issue 2	None	£1,000	£1,291.97	0.60% (0.60%)
Britannia	Direct Saver	None	£100	£1,273.83	0.50% (0.50%)
Chesham BS	Save Direct 2nd Issue	None	£2,500	£1,262.75	0.25% (0.25%)

Based on interest earned on £10,000 in 36 months to 1 October 2009

Notice savings accounts (without bonus)

Most consistent accounts over the last 18 months

Company	Account	Term	Min Deposit	Total Interest	Gross % (AER) as at 1.10.09
Leeds BS	Albion 30	30 Day	£5,000	£523.96	2.50% (2.50%)
Chesham BS	Save Direct 90	90 Day	£10,000	£516.61	1.25% (1.25%)
National Counties BS	Direct 90 Notice	90 Day	£5,000	£475.79	1.41% (1.41%)
Harpenden BS	Hertford/Bedford	30 Day	£1,000	£470.19	1.50% (1.51%)
Teachers BS	Minster 90 Plus	90 Day	£5,000	£461.18	1.00% (1.00%)
Bath BS	Lifestyle 60	60 Day	£5,000	£459.83	1.35% (1.35%)

Based on interest earned on £10,000 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
Chesham BS	Save Direct 90	90 Day	£10,000	£1,422.02	1.25% (1.25%)
Leeds BS	Albion 30	30 Day	£5,000	£1,309.07	2.50% (2.50%)
National Counties BS	Direct 90 Notice	90 Day	£5,000	£1,306.24	1.41% (1.41%)
Teachers BS	Minster 90 Plus	90 Day	£5,000	£1,294.67	1.00% (1.00%)
Bath BS	Lifestyle 60	60 Day	£5,000	£1,263.87	1.35% (1.35%)
Buckinghamshire BS	Chiltern Gold Notice 90	90 Day	£100	£1,260.75	1.15% (1.15%)

Based on interest earned on £10,000 in 36 months to 1 October 2009

Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.

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