Saga fixed-rate savings account pays 3.5%

Saga fixed-rate savings account pays 3.5%

Saga Personal Finance has launched two new fixed-rate savings accounts for savers aged 50+.

The eighteen month account pays interest at 3.45% AER, whilst the two year account pays 3.5% AER.

Savers can opt to have interest paid on a monthly or a yearly basis, although no funds can be withdrawn from either account during the account term.

Saga, which specialises in providing financial products for the over 50s, said: “An 18 month and a two year fixed rate saving account are available from today.

“These fixed rate accounts are ideal for those who do not require access to their funds for 18 months or more and want to be sure of the exact rate of interest their investment will earn.”

Sainsbury’s Bank recently revealed that just one in 25 instant access savings accounts pays interest at higher than 3%.

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