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24 Jun 2019

Go Direct Personal Finance News  2009

Building societies retain consistency crown

Building societies once again reign supreme, taking 77% of the top spots in the Moneyfacts consistency survey.

The string of consecutive base rate cuts has resulted in lower returns for savers and the majority of the most consistent returns are provided by the same providers.

Moneyfacts consistency survey April 2009:

 

See appendix for full consistency details.

Michelle Slade, analyst at Moneyfacts.co.uk, commented:

“Many savers don’t have the time or inclination to keep switching between accounts to secure best buy rates. Instead they look for an account offering a competitive rate of interest which is maintained despite market movements.  

“With so many changes in the market recently, consistency has become more important than ever with many accounts paying best buy rates one minute but gone the next.

“Taking more than three quarters of the top spots, building societies once again increase their dominance in the Moneyfacts consistency survey. Savers looking to make the most of their money shouldn’t just look to their bank for their savings needs.

“It is encouraging to see the Halifax doubling its presence to become one of the most consistent providers, as no other high street bank features in the top spots.

“Sainsbury’s Finance continues its dominance of the internet savings market, with its Internet Saver taking top spot for the fifth quarter running.

“With base rate at an all time low, it is inevitable that savers are seeing lower returns than this time last year, but by putting in a small amount of work to find the best home for your money, you could avoid being hit so harshly.”

Appendix

Cash ISA

Most consistent accounts over the last 18 months

Company

Account

Term

Min
Deposit

Total Interest

Gross % (AER)
as at 6.4.09

Tipton & Coseley BS

Premier ISA

30 Day

£3600

£260.57

2.00%* (1.87%)

Principality BS

e-ISA

None

£1

£243.07

1.80% (1.80%)

Kent Reliance BS

Direct Cash ISA

None

£1

£237.51

1.42% (1.42%)

Earl Shilton BS

90 Day Cash ISA

90 Day

£10

£232.94

1.95% (1.95%)

Yorkshire BS

e-ISA

None

£10

£230.58

1.90% (1.90%)

Saffron BS

180 Day ISA Issue 2

180 Day

£1,000

£228.53

1.05% (1.05%)

* = Introductory rate for a minimum of 6 months.

Based on interest earned on £3,000 in 18 months to 6 April 2009

 

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest

Gross % (AER)
as at 6.4.09

Tipton & Coseley BS

Premier ISA

30 Day

£3600

£522.36

2.00%* (1.87%)

Kent Reliance BS

Direct Cash ISA

None

£1

£505.40

1.42% (1.42%)

Yorkshire BS

e-ISA

None

£10

£493.78

1.90% (1.90%)

National Savings & Investments

Direct ISA

None

£100

£493.19

1.30% (1.30%)

Earl Shilton BS

90 Day Cash ISA

90 Day

£10

£491.20

1.95% (1.95%)

Leek United BS

Cash ISA

Instant

£1

£484.44

2.00% (2.00%)

Based on interest earned on £3,000 in 36 months to 6 April 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 6.4.09

ICICI Bank UK

HiSAVE Savings

None

£1

£84.94

2.43% (2.46%)

Yorkshire BS

Internet Saver

Instant

£1

£80.68

2.10% (2.10%)

Principality BS

e-SAVER

None

£1

£80.36

1.65% (1.65%)

Birmingham Midshires

Direct Internet Savings

None

£1

£72.65

1.40% (1.40%)

Sainsbury’s Finance

Internet Saver

None

£1

£71.50

0.75% (0.75%)

Saffron BS

e-saver Issue 2

None

£1,000

£69.02

0.60% (0.60%)

Based on interest earned on £1,000 in 18 months to 6 April 2009

 

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest
(Gross)

Gross % (AER)
as at 6.4.09

Sainsbury’s Finance

Internet Saver

None

£1

£158.01

0.75% (0.75%)

Nationwide BS

e-Savings

None

£1

£149.88

0.45% (0.45%)

Coventry BS

NetSave Instant lll

Instant

£1

£142.08

0.50% (0.50%)

Norwich & Peterborough BS

NetmasterGold Save ll

None

£1

£139.59

0.50% (0.50%)

Halifax     

Web Saver

None

£5,000

£134.38

0.15% (0.15%)

Halifax     

Web Saver Cash Card

Instant

£10

£132.82

0.25% (0.25%)

Based on interest earned on £1,000 in 36 months to 6 April 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 6.4.09

Beverley BS

Postal Account

None

£5,000

£756.02

1.65% (1.65%)

Teachers BS

Call Save

None

£1

£732.29

1.60% (1.60%)

Birmingham Midshires

Direct Telephone Savings

None

£1

£726.44

1.40% (1.40%)

Bath BS

Direct Saver

None

£2,500

£703.10

1.70% (1.70%)

Stroud & Swindon BS

Premium Reward Issue 2

Instant

£5,000

£675.32

0.50% (0.50%)

Derbyshire BS

EasySave Tracker Issue 2

None

£100

£674.55

0.50% (0.50%)

Based on interest earned on £10,000 in 18 months to 6 April 2009

 

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest
(Gross)
36 months

Gross % (AER) as at 6.4.09

Beverley BS

Postal Account

None

£5,000

£1,591.55

1.65% (1.65%)

Teachers BS

Call Save

None

£1

£1,563.60

1.60% (1.60%)

Bath BS

Direct Saver

None

£2,500

£1,515.97

1.70% (1.70%)

Britannia BS

Direct Saver

None

£100

£1,491.78

0.50% (0.50%)

Chesham BS

Save Direct 2nd Issue

None

£2,500

£1,481.17

0.75% (0.75%)

Principality BS

Postal

None

£1

£1,441.44

0.50% (0.50%)

Based on interest earned on £10,000 in 36 months to 6 April 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 6.4.09

Chesham BS

Save Direct 90

90 Day

£10,000

£747.73

1.25% (1.25%)

Teachers BS

Minster 90 Plus

90 Day

£5,000

£684.01

1.00% (1.00%)

National Counties BS

Direct 90 Notice

90 Day

£5,000

£678.25

1.41% (1.41%)

Halifax

Extra Income Saver

90 Day

£5,000

£665.68

0.25% (0.25%)

Buckinghamshire BS

Chiltern Gold Notice 90

90 Day

£100

£661.70

1.15% (1.15%)

Bath BS

Lifestyle 60

60 Day

£5,000

£656.89

1.35% (1.35%)

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

 

Most consistent accounts over the last 36 months

Company

Account

Term

Min
Deposit

Total Interest

Gross % (AER)
as at 6.4.09

Teachers BS

Minster 90 Plus

90 Day

£5,000

£1,481.00

1.00% (1.00%)

National Counties BS

Direct 90 Notice

90 Day

£5,000

£1,459.38

1.41% (1.41%)

Halifax

Extra Income Saver

90 Day

£5,000

£1,458.50

0.25% (0.25%)

Buckinghamshire BS 

Chiltern Gold Notice 90

90 Day

£100

£1,429.56

1.15% (1.15%)

Bath BS

Lifestyle 60

60 Day

£5,000

£1,422.84

1.35% (1.35%)

Principality BS

Monthly Income Issue 2

60 Day

£1

£1,417.91

0.40% (0.40%)

Based on interest earned on £10,000 in 36 months to 6 April 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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