Moneyfacts.co.uk consistent savings survey (July 2008)
No sooner do you find the best home for your savings, than the institution changes its rate. With many of us having busy lives, we don't have the time or inclination to keep moving our money around. However, there is a good home for your savings where you don't have to keep moving your money every few months.
Highlights from the July 2008 savings consistency report:
Internet Savings
Icesave (Easy Access Savings) takes top spot over 18 months, knocking Sainsbury's Finance (Internet Saver) into second place after its dominance in April. Sainsbury's Finance does hold on to the top spot over 36 months.
No Notice Savings (No bonus)
Anglo Irish Bank (Easy Access Deposit) triumphs, taking pride of place in both the 18 and 36 month tables.
Notice Savings (No bonus)
Once again Anglo Irish Bank dominates both the 18 and 36 month tables, but this time with its 7 Day notice account.
Cash ISA
Kent Reliance BS knocks NS&I off the top spot over 18 months, with its Direct Cash ISA,
while Yorkshire BS once again
retains top spot over 36 months with its e-ISA.
Building societies continue to dominate the consistency
charts, taking 33 of the 48 spaces available. The current economic climate has
seen many institutions closing accounts and replacing them with new ones,
generally paying higher rates. It is therefore great news for savers that two
of the top consistent savings accounts still continue to appear in the best
buys today. Savers can be confident that if they opt for consistency they are
still getting a rate just below those of current market leading deals.
Effective from 2 July, Anglo Irish Bank has withdrawn its Easy Access Deposit and 7 Day Notice accounts. However, they have replaced them with new issues paying increased rates of 6.40% and 6.55% respectively. Savers can transfer any money from the previous issue into the new issue, so they can continue to get a top rate on their savings.
Moneyfacts.co.uk is the only comparison site which offers its customers a comprehensive choice of savings best buys. Whether consumers are looking for short term introductory bonuses or an account which consistently performs, they have access to both types of accounts.
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