Savings Accounts by Building Societies
It is the opinion of one trade association that people looking for long-term best value on their savings accounts need to use building societies.
Acctually, according to the Building Societies Association (BSA), these financial service providers are in a good position to satisfy the demands of their members as they can give them “good rates that last the distance”.
Building societies have the added advantage of being mutual organisations and not needing to satisfy their shareholders.
Rachel Le Brocq, press and public affairs manager at the BSA, said: “Recent research from the BSA shows that societies outperform banks on many aspects of customer service and value for money is just one of those.
“In this historically low interest rate environment, getting the most out of your savings is more important than ever.”
A recent consistency survey from financial advisor Moneyfacts showed that the Bath, Principality and Teachers building societies are the most consistent providers.
Sainsbury’s Finance’s Internet Saver savings account is the most consistent internet account.
