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15 Oct 2019

Go Direct Personal Finance News  2009

Building societies increase consistency dominance

Two years ago, when Moneyfacts.co.uk started to monitor the most consistent savings accounts, building societies came out on top, taking 72% of the top places.

Despite the turbulent economic conditions that the last two years has brought, the building societies have continued to increase their dominance for consistent paying savings account, today taking 83% of the top places.

Key points of the July 2009 Moneyfacts.co.uk Consistency Survey:

 

For full details see appendix below 

Louis Kaszczak, Head of Moneyfacts.co.uk commented:

“Many savers lead increasingly busy lives and they don’t have the time or inclination to continually chase best buy rates.

“Instead many would rather put their money in an account that continues to pay a competitive rate of interest, not one where top rates are paid one minute and are gone the next.

“While past performance doesn’t necessarily predict the future, the Moneyfacts.co.uk Consistency Survey does give savers an idea of the providers and accounts where rates are maintained.

“Building societies continue to increase their dominance of the savings market, with mutuals continuing to play fair with their members, offering the most consistent rates of return.

“The lack of presence of high street banks shows that savers need to look further afield to find the most attractive home for their money.

“Away from the high street, it may take a small amount of time and energy to find the best deal, but it is likely to be cost effective, particularly when you consider that a large proportion of the best buys are also made up of building society accounts.”

Appendix

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 14.7.09

ICICI Bank UK

HiSAVE Savings

None

£1

£74.42

1.69% (1.70%)

Yorkshire BS

Internet Saver

Instant

£1

£70.36

2.10% (2.10%)

Newcastle BS

Net Savings Issue 7

None

£250

£69.05

1.84% (1.84%)

Birmingham Midshires

Direct Internet Savings

None

£1

£61.12

1.40% (1.40%)

Sainsbury’s Finance

Internet Saver

None

£1

£57.96

0.75% (0.75%)

Saffron BS

e-saver Issue 2

None

£1,000

£55.73

0.60% (0.60%)

Based on interest earned on £1,000 in 18 months to 2 July 2009

 

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest
(Gross)

Gross % (AER) as at 14.7.09

Sainsbury’s Finance

Internet Saver

None

£1

£147.39

0.75% (0.75%)

Nationwide BS

e-Savings

None

£1

£139.22

0.45% (0.45%)

Cahoot

Savings

None

£1

£137.63

0.50% (0.50%)

Coventry BS

NetSave Instant lll

Instant

£1

£131.35

0.50% (0.50%)

NatWest

e-Savings

None

£1

£130.09

1.09% (1.10%)

Norwich & Peterborough BS

NetmasterGold Save ll

None

£1

£129.38

0.50% (0.50%)

Based on interest earned on £1,000 in 36 months to 2 July 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 14.7.09

Beverley BS

Postal Account

None

£5,000

£648.20

1.65% (1.65%)

Teachers BS

Call Save

None

£1

£624.72

1.60% (1.60%)

Birmingham Midshires

Direct Telephone Savings

None

£1

£611.27

1.40% (1.40%)

Bath BS

Direct Saver

None

£2,500

£596.91

1.55% (1.55%)

National Counties BS

Direct Access

None

£1

£548.13

1.26% (1.26%)

Derbyshire BS

EasySave Tracker Issue 2

None

£100

£546.11

0.50% (0.50%)

Based on interest earned on £10,000 in 18 months to 2 July 2009

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest
(Gross)
36 months

Gross % (AER) as at 14.7.09

Beverley BS

Postal Account

None

£5,000

£1,513.77

1.65% (1.65%)

Teachers BS

Call Save

None

£1

£1,483.36

1.60% (1.60%)

Bath BS

Direct Saver

None

£2,500

£1,439.78

1.55% (1.55%)

Britannia BS

Direct Saver

None

£100

£1,386.49

0.50% (0.50%)

Chesham BS

Save Direct 2nd Issue

None

£2,500

£1,382.08

0.75% (0.75%)

Principality BS

Postal

None

£1

£1,333.92

0.50% (0.50%)

Based on interest earned on £10,000 in 36 months to 2 July 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 14.7.09

Chesham BS

Save Direct 90

90 Day

£10,000

£628.19

1.25% (1.25%)

Leeds BS

Albion 30

30 Day

£5,000

£583.04

2.50% (2.50%)

National Counties BS

Direct 90 Notice

90 Day

£5,000

£573.76

1.41% (1.41%)

Teachers BS

Minster 90 Plus

90 Day

£5,000

£565.82

1.00% (1.00%)

Harpenden BS

Hertford/Bedford

30 Day

£1,000

£554.96

1.50% (1.51%)

Buckinghamshire BS

Chiltern Gold Notice 90

90 Day

£100

£552.54

1.15% (1.15%)

Based on interest earned on £10,000 in 18 months to 2 July 2009

 

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest

Gross % (AER)
as at 14.7.09

Teachers BS

Minster 90 Plus

90 Day

£5,000

£1,390.92

1.00% (1.00%)

National Counties BS

Direct 90 Notice

90 Day

£5,000

£1,384.81

1.41% (1.41%)

Leeds BS

Albion 30

30 Day

£5,000

£1,356.31

2.50% (2.50%)

Buckinghamshire BS

Chiltern Gold Notice 90

90 Day

£100

£1,348.50

1.15% (1.15%)

Bath BS

Lifestyle 60

60 Day

£5,000

£1,347.18

1.35% (1.35%)

Principality BS

Monthly Income Issue 2

60 Day

£1

£1,316.79

0.40% (0.40%)

Based on interest earned on £10,000 in 36 months to 2 July 2009

 

Cash ISA

Most consistent accounts over the last 18 months

Company

Account

Term

Min
Deposit

Total Interest

Gross % (AER)
as at 14.7.09

Principality BS

e-ISA

None

£1

£210.95

1.80% (1.80%)

Earl Shilton BS

90 Day Cash ISA

90 Day

£10

£206.21

2.45% (2.45%)

Kent Reliance BS

Direct Cash ISA

None

£1

£201.38

1.42% (1.42%)

Harpenden BS

Simply ISA

Instant

£1

£200.39

2.25% (2.25%)

Yorkshire BS

e-ISA

None

£10

£199.31

1.90% (1.90%)

Monmouthshire BS

Cash ISA
Issue 2

30 Day

£10

£198.68

2.50% (2.50%)

* = Introductory rate for a minimum of 6 months.Based on interest earned on £3,000 in 18 months to 2 July 2009

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest

Gross % (AER)
as at 14.7.09

Kent Reliance BS

Direct Cash ISA

None

£1

£477.81

1.42% (1.42%)

Earl Shilton BS

90 Day Cash ISA

90 Day

£10

£472.98

2.45% (2.45%)

Yorkshire BS

e-ISA

None

£10

£470.67

1.90% (1.90%)

Monmouthshire BS

Cash ISA
Issue 2

30 Day

£10

£466.14

2.50% (2.50%)

National Savings & Investments

Direct ISA

None

£100

£463.09

1.30% (1.30%)

Leek United BS

Instant Access Cash ISA

Instant

£1

£462.76

2.00% (2.00%)

Based on interest earned on £3,000 in 36 months to 2 July 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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