Building societies retain consistency crown

Building societies once again reign supreme, taking 77% of the top spots in the Moneyfacts consistency survey.

The string of consecutive base rate cuts has resulted in lower returns for savers and the majority of the most consistent returns are provided by the same providers.

Moneyfacts consistency survey April 2009:

Bath BS, Halifax, Principality BS and Teachers BS take the title of most consistent providers

Sainsbury's Finance's Internet Saver continues to be the most consistent internet account

Beverley BS Postal Account retains the title of most consistent no notice account over both 18 and 36 months

Michelle Slade, analyst at Moneyfacts.co.uk, commented: "Many savers don't have the time or inclination to keep switching between accounts to secure best buy rates. Instead they look for an account offering a competitive rate of interest which is maintained despite market movements.

"With so many changes in the market recently, consistency has become more important than ever with many accounts paying best buy rates one minute but gone the next.

"Taking more than three quarters of the top spots, building societies once again increase their dominance in the Moneyfacts consistency survey. Savers looking to make the most of their money shouldn't just look to their bank for their savings needs.

"It is encouraging to see the Halifax doubling its presence to become one of the most consistent providers, as no other high street bank features in the top spots.

"Sainsbury's Finance continues its dominance of the internet savings market, with its Internet Saver taking top spot for the fifth quarter running.

"With base rate at an all time low, it is inevitable that savers are seeing lower returns than this time last year, but by putting in a small amount of work to find the best home for your money, you could avoid being hit so harshly."