Principality crowned one of UK's most consistent savings providers

Principality Building Society has been named as one of the UK's most consistent savings providers in a national survey charting rates over the last three years.

Wales' biggest building society emerged as the top most consistent interest paying provider for Cash ISA accounts with its e-ISA, and the third highest interest paying provider for Internet savings accounts (without bonus) with the Principality e-Saver account, both over the last 18 months.

Principality's Postal and Monthly Income Issue 2 accounts were also named among the country's most consistent leading interest paying accounts within their fields.

The survey - carried out by financial information group Moneyfacts and released this month - took place against a backdrop of a string of base rate cuts resulting in lower returns for savers.

James Wright, Marketing Director at Principality, said: "We are delighted to have been recognised as one of the nation's most consistent providers. In the current low interest rate environment we understand the frustrations for savers and are committed to offering our members returns that they can rely on.

"We have been looking after our members' money for 149 years - we offer a safe home for their cash and they can be sure that it is working hard for them."

Principality, Bath Building Society, Halifax and Teachers Building Society took the title of the nation's most consistent providers, according to Moneyfacts. In fact, overall building societies took 77 per cent of the top spots in the survey.

Michelle Slade, Moneyfacts analyst 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 which pays a consistently good rate. In a recent Moneyfacts.co.uk survey, Principality BS by far had the most consistent savings products.

"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.

"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."