21 Nov 2024

Building societies triumph once again in consistency survey

Building societies have once again dominated the first Moneyfacts consistency survey of 2010, with 72.5% of all accounts listed as performing consistently.

Key points of the January 2010 Moneyfacts.co.uk Consistency Survey:

72.5% of the most consistent savings accounts are offered by building societies.

National Counties Building Societies has the most consistent products, with five products in the tables.

Bath Building Society, Leeds Building Society, Teachers Building Society and Yorkshire Building Society follow closely, with four products each in the tables.

The best performing bank is Halifax with four consistent products.

For full details, please see appendix.

Louise Holmes, spokesperson at Moneyfacts.co.uk commented: “Despite a slight drop from 77% reported last October, our results show, yet again, that building societies still reign supreme in the consistency stakes.

“Many savers simply do not have the time or inclination to trawl the market looking for the best account, and certainly do not wish to keep moving their money around to achieve a slightly better rate of return. Instead, savers would rather invest their money in an account that continues to pay a competitive rate of interest, rather than one where top rates are paid one minute and are gone the next.

“These results also suggest that savers feel more comfortable placing their cash with some of the lesser known providers. Some of the most consistently performing accounts are offered by providers such as Bath Building Society and Teachers Building Society.”

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 19.1.10
Intelligent Finance	isaver	None	£1	£56.15	2.49% (2.49%)
Birmingham Midshires	e-Saver Issue 2	None	£1	£51.96	1.83% (1.85%)
Yorkshire BS	Internet Saver	Instant	£1	£51.75	2.10% (2.10%)
ICICI Bank UK	HiSAVE Savings	None	£1	£51.67	1.69% (1.70%)
Newcastle BS	Net Savings Issue 7	None	£250	£48.88	1.84% (1.84%)
Birmingham Midshires	Easy Internet Savings	None	£1	£44.29	1.75% (1.75%)

Halifax	Web Saver Extra	None	£1	£42.63	2.80% (2.80%)
NatWest	e-Savings	None	£1	£36.54	1.00% (1.00%)
FirstSave	Easy Access	None	£100	£35.27	0.75% (0.75%)
Saffron BS	e-saver Issue 2	None	£100	£32.30	0.20% (0.20%)

Based on interest earned on £1,000 in 18 months to 1 January 2010.

Most consistent accounts over the last 36 months

Company	Account	Term	Min Deposit	Total Interest (Gross)	Gross % (AER) as at 19.1.10
Yorkshire BS	Internet Saver	Instant	£1	£144.09	2.10% (2.10%)
Nationwide BS	e-Savings	None	£1	£115.61	0.45% (0.45%)
NatWest	e-Savings	None	£1	£112.37	1.00% (1.00%)
Coventry BS	NetSave Instant lll	Instant	£1	£108.62	0.50% (0.50%)
Norwich & Peterborough BS	NetmasterGold Save ll	None	£1	£106.56	0.50% (0.50%)
Halifax	Web Saver Cash Card	None	£10	£101.28	0.25% (0.25%)
Royal Bank of Scotland	Direct Saver	None	£1	£99.71	1.00% (1.00%)
Halifax	Web Saver	None	£1	£97.72	0.10% (0.10%)
Barclays Bank	E-savings	None	£1	£90.13	0.10% (0.10%)
Smile	Savings	None	£1	£73.12	0.12% (0.12%)

Based on interest earned on £1,000 in 36 months to 1 January 2010.

Most consistent accounts over the last 18 months

Company	Account	Term	Min Deposit	Total Interest (Gross) 18 months	Gross % (AER) as at 19.1.10
Beverley BS	Postal Account	None	£5,000	£445.89	1.65% (1.65%)
Birmingham Midshires	Easy Telephone Savings	None	£1	£442.84	1.75% (1.75%)
Teachers BS	Call Save	None	£1	£436.55	1.60% (1.60%)
Leeds BS	Postal Max	None	£2,500	£417.06	1.90% (1.90%)
Bath BS	Direct Saver	None	£2,500	£415.75	1.55% (1.55%)
Loughborough BS	Loughborough Postal	None	£100	£388.43	1.60% (1.60%)

National Counties BS	Direct Access	None	£1	£361.98	0.40% (0.40%)
Halifax	Saver Reward	Instant	£500	£356.91	0.10% (0.10%)
Derbyshire BS	EasySave Tracker Issue 2	None	£100	£307.98	0.50% (0.50%)
Britannia	Direct Saver	None	£100	£306.22	0.50% (0.50%)

Based on interest earned on £10,000 in 18 months to 1 January 2010.

Most consistent accounts over the last 36 months

Company	Account	Term	Min Deposit	Total Interest (Gross) 36 months	Gross % (AER) as at 19.1.10
Beverley BS	Postal Account	None	£5,000	£1,334.78	1.65% (1.65%)
Teachers BS	Call Save	None	£1	£1,301.62	1.60% (1.60%)
Bath BS	Direct Saver	None	£2,500	£1,260.69	1.55% (1.55%)
National Counties BS	Direct Access	None	£1	£1,164.14	0.40% (0.40%)
Leeds BS	Postal Max	None	£2,500	£1,153.18	1.90% (1.90%)
Britannia	Direct Saver	None	£100	£1,146.08	0.50% (0.50%)

Chesham BS	Save Direct 2nd Issue	None	£2,500	£1136.36	0.25% (0.25%)
Loughborough BS	Loughborough Postal	None	£100	£1,132.02	1.60% (1.60%)
Principality BS	Postal	None	£1	£1,104.41	0.50% (0.50%)
West Bromwich BS	Direct Tracker Saver	None	£1,000	£1,039.61	0.25% (0.25%)

Based on interest earned on £10,000 in 36 months to 1 January 2010.

Notice savings accounts (without bonus)

Most consistent accounts over the last 18 months

Company	Account	Term	Min Deposit	Total Interest	Gross % (AER) as at 19.1.10
Whiteaway Laidlaw Bank	90 Day Notice	90 Day	£1,000	£534.16	2.26% (2.26%)
Leeds BS	Albion 30	30 Day	£5,000	£465.90	2.25% (2.25%)
Chesham BS	Save Direct 90	90 Day	£10,000	£412.85	1.25% (1.25%)
Harpenden BS	Hertford/Bedford	30 Day	£1,000	£390.47	1.50% (1.51%)
Bank of Cyprus UK	35 Day Notice	35 Day	£1	£389.24	1.75% (1.76%)
National Counties BS	Direct 90 Notice	90 Day	£5,000	£384.16	1.41% (1.41%)
Marfin Laiki Bank	Privilege	90 Day	£1	£378.06	1.65% (1.66%)
Saffron BS	Cashbuild 90	90 Day	£10,000	£374.61	1.65% (1.65%)
Bath BS	Lifestyle 60	60 Day	£5,000	£372.73	1.35% (1.35%)
Buckinghamshire BS	Chiltern Gold Notice 90	90 Day	£100	£363.64	1.17% (1.17%)

Based on interest earned on £10,000 in 18 months to 1 January 2010.

Most consistent accounts over the last 36 months

Company	Account	Term	Min Deposit	Total Interest	Gross % (AER) as at 19.1.10
Chesham BS	Save Direct 90	90 Day	£10,000	£1,312.31	1.25% (1.25%)
Leeds BS	Albion 30	30 Day	£5,000	£1,248.81	2.25% (2.25%)
National Counties BS	Direct 90 Notice	90 Day	£5,000	£1,215.88	1.41% (1.41%)
Teachers BS	Minster 90 Plus	90 Day	£1,000	£1,189.61	0.50% (0.50%)
Bath BS	Lifestyle 60	60 Day	£5,000	£1,173.67	1.35% (1.35%)
Buckinghamshire BS	Chiltern Gold Notice 90	90 Day	£100	£1,164.31	1.17% (1.17%)
Harpenden BS	Hertford/Bedford	30 Day	£1,000	£1,154.50	1.50% (1.51%)
Furness BS	Notice 90	90 Day	£1,000	£1,100.72	0.70% (0.70%)
Principality BS	Monthly Income Issue 2	60 Day	£1	£1,095.55	0.40% (0.40%)
Teachers BS	Minster 60	60 Day	£5,000	£1,092.98	0.70% (0.70%)

Based on interest earned on £10,000 in 36 months to 1 January 2010.

Cash ISA

Most consistent accounts over the last 18 months

Company	Account	Term	Min Deposit	Total Interest	Gross % (AER) as at 19.1.10
Standard Life Cash Savings	Cash ISA Direct Access	None	£1	£189.77	2.65% (2.65%)
Earl Shilton BS	90 Day Cash ISA	90 Day	£10	£189.58	2.45% (2.45%)
Monmouthshire BS	Cash ISA Issue 2	30 Day	£10	£183.97	2.50% (2.50%)
Harpenden BS	Simply ISA	Instant	£1	£182.61	2.25% (2.25%)
Principality BS	e-ISA	None	£1	£176.82	1.80% (1.80%)
Newbury BS	Notice Cash ISA	60 Day	£50	£175.67	2.10% (2.10%)
Furness BS	ISA 90 Issue 2	90 Day	£1,000	£172.25	1.84% (1.84%)
Yorkshire BS	e-ISA	None	£10	£171.85	1.90% (1.90%)
Skipton BS	Online Cash ISA	None	£50	£171.18	2.25% (2.25%)
Leek United BS	Instant Access Cash ISA	Instant	£1	£171.08	2.00% (2.00%)

* = Introductory rate for a minimum of 6 months.

Based on interest earned on £3,600 in 18 months to 1 January 2010.

Most consistent accounts over the last 36 months

Company	Account	Term	Min Deposit		Total Interest		Gross % (AER) as at 19.1.10
Earl Shilton BS	90 Day Cash ISA	90 Day		£10		£430.83		2.45% (2.45%)
Monmouthshire BS	Cash ISA Issue 2	30 Day		£10		£424.83		2.50% (2.50%)
Standard Life Cash Savings	Cash ISA Direct Access	None		£1		£418.58		2.65% (2.65%)
Yorkshire BS	e-ISA	None		£10		£417.46		1.90% (1.90%)
Kent Reliance BS	Direct Variable Rate Cash ISA	None		£1		£414.25		1.02% (1.02%)
Leek United BS	Instant Access Cash ISA	Instant		£1		£412.41		2.00% (2.00%)
National Savings & Investments	Direct ISA	None		£100		£411.39		2.50% (2.50%)
Harpenden BS	Simply ISA	Instant		£1		£408.70		2.25% (2.25%)
Skipton BS	Cash ISA	None		£50		£404.23		2.00% (2.00%)
National Counties BS	Cash ISA Issue 2	Instant		£1		£403.61		1.81% (1.81%)

Based on interest earned on £3,000 in 36 months to 1 January 2010.

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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