Mortgage News
Building societies triumph in consistent account survey
Building societies dominated the first Moneyfacts consistency survey of 2010, with 72.5% of the most consistent savings accounts offered by building societies.
In the consistency survey, Moneyfacts ranked accounts in four tables which were internet savings accounts, no notice savings accounts, notice savings accounts and cash ISA accounts based on the amount of gross interest over two periods- 18 months and 36 months.
National Counties Building Societies offered the most consistent products, with five products in the tables. Bath Building Society, Leeds Building Society, Teachers Building Society and Yorkshire Building Society followed with four products each in the tables. The best performing bank was Halifax with four consistent products.
Louise Holmes, spokesperson at Moneyfacts, said that many 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.
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