Regular Savings Accounts

If you’re a regular saver, there is absolutely no reason why you shouldn’t be banking online. As of this second! Right now! You’re a marketable commodity. Banks should be fighting over you. And you should be fighting for the very best interest rates on the market. Don’t ever settle for second best.

Online savers accounts and regular savers accounts alike are bigger and better online. High street banks and building societies simply can’t compete with the sort of incentives that an online saver scheme can provide. There really isn’t any comparison. The higher rates of interest accruing to an online savings account, particularly a regular savings scheme will far outweigh any disadvantages you might conceive of. Besides; what disadvantages? As a patient saver, you don’t need instant access to your money, so the ‘convenience’ of the high street isn’t ever going to be a viable consideration in choosing your savings plan. All you need is security and the hardest working rate of interest in the country! You don’t even need statements or paperwork; all you need is instant online access to your account. And you’ve got it.

If you’ve got a regular source of income and you want to invest, there’s no better, guaranteed source of income on your investment. Even if you’ve never used a regular savings account before, you’ll see its value mount up in your monthly or annual interest payments. Provided you’re able to make a regular commitment – even if it’s as little as £10 per month, and if you can afford to deposit without recourse to withdrawal then you’ll really be able to cash in. Regular savings accounts reward all investors, but patient investors most of all. Obviously rates vary from day to day, but think of a typical high street interest rate, factor it up by 30 or 40%. That’ll give you a very attractive (and easily achievable) ball park figure.

With so many stratospheric rates to choose from, you’ll want to weigh up the respective advantages of the different schemes. (Disadvantages just don’t apply.) Depending on how much you’re planning on investing month by month, you’ll need to consider whether a flat rate of interest or a graduated rate will benefit you more. Higher rates are available at the graduated rate upto a set monthly investment; (e.g. 8.5% for the first £200, then 4% for any additional investment; as opposed to a flat rate 5.25% on the entirety.)

Regular savings accounts work to optimum capacity when left well alone, but they’re not so inflexible that you can’t ever get at your money if and when you really need it. Some regular savings accounts come with a finite number of withdrawals available without penalty, whilst others will discourage withdrawals altogether. In any case, whether you waive the interest accruing for that month or take a diminished sum, you retain the right to use your account in any way you need to.

And don’t forget; if you really need the flexibility to dip into your savings from time to time, there are just as many exceptional everyday regular savings accounts, giving you a great rate of interest and the flexibility to withdraw your money as and when you see fit. It’s the best of both worlds and a little bit extra to boot.

Regular savings accounts don’t just reward you; they make it easy for you too. They’re simple to set up and they’re simple to manage. They’re the simplest way to cash in on the interest you deserve. And all you need is a little patience. Remember, patience isn’t just a virtue; it’s the makings of a genuine windfall.