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News Tag: instant access

August 5, 2010

Leeds launches 2.55% instant access saver

by David Masters
Leeds launches 2.55% instant access saver
Leeds Building Society has launched a new instant access account paying interest at 2.55%. The headline rate includes a 0.5% bonus until August 2011. The account, known as the London Instant Access Account, is only available through the building society's London branch. Savers can open the account with a minimum investment of £100, and are not required to open any other accounts with Leeds. "Our ...




September 10, 2009

Leeds launches instant-access passbook saver

by David Masters
”Leeds
Leeds Building Society (LBS) has launched a new instant access passbook savings account paying up to 2.5% interest. Customers opening an Albion Saver passbook account are given a passbook that allows them to deposit and withdraw money at any LBS branch. Opening the account requires a minimum deposit of £2,500. The standard gross interest rate on the account is 1.6%. Customers wishing to earn ...




Consumers see few benefits from low base rate

by David Masters
”Consumers
Consumers have seen very little benefit from the Bank of England holding its base rate at a record low of 0.5% for six months, a consumer advice site pointed out this week. Interest rates on savings accounts have dropped, while rates on mortgages, credit cards, and personal loans have continued to rise, said Moneyfacts.co.uk. Research by the site found interest rates ...




September 7, 2009

Make the most of “inflated” savings rates

by David Masters
”Make
Interest rates on savings accounts are "highly inflated" at the moment because banks and building societies are desperate for deposits, a price comparison site said this week. Financial providers are offering average bonus rates of 1.93% on savings accounts, compared to 0.71% two years ago, moneysupermarket.com said. Savers should invest now to avoid disappointment, the price comparison site warned, because the high ...




July 7, 2009

Coventry launches 3.25% 50-Plus eSave account

by David Masters
Coventry launches 3.25% 50-Plus eSave account
The Coventry Building Society this week relaunched is 50 Plus eSave account. Available exclusively to savers over 50, the account pays interest at 3.25%, fixed for 12 months. Savers can open the account with a minimum of £1, and can make unlimited, penalty-free withdrawals and deposits. The maximum balance is £250,000, and account holders can choose to have interest paid monthly or annually. The account ...




June 29, 2009

Egg unveils two new savings accounts

by David Masters
”Egg
Internet bank Egg this week unveiled an instant access savings account and a fixed-rate bond. The Egg Bonus Savings Account pays 2.8% gross pa/AER, including a fixed-rate bonus of 1.55% for the first 12 months. The account can be opened with a minimum investment of £1, and offers the flexibility of unlimited penalty-free deposits and withdrawals. From next month, savers will be able to ...




June 26, 2009

Leeds pays 3.05% on easy access account

by David Masters
Leeds pays 3.05% on easy access account
A new online easy access savings account launched this week by Leeds Building Society pays interest at 3.05%. For a minimum investment of £100, savers are offered unlimited penalty-free access to their cash, with no advance notice required. Kim Rebecchi, Leeds' director of sales and marketing, said: "A return of 3.05%, combined with the flexibility of online functionality and penalty free access, ...




May 11, 2009

Record number of savers choose LBS account

by David Masters
Record number of savers choose LBS account
Savers are signing up for the Albion Cheque instant access account at Leeds Building Society (LBS) in record numbers. LBS said the account, which pays interest at up to 2.5%, has seen a significant uplift in the number of new customers signing up, as well as in the account balance of current customers. "We have seen record numbers of new accounts opened ...




March 18, 2009

Only 1 in 25 savings accounts pays 3% interest

by David Masters
Only 1 in 25 savings accounts pays 3% interest
Fewer than 4% of instant access savings accounts pay AER at 3% or above, according to new research from Sainsbury's Finance. A survey of accounts by the supermarket bank found that just 14 of the 367 instant access accounts currently available in the UK pay interest of 3% or more on balances of £5,000. The average interest rate paid by ...




March 4, 2009

Abbey’s new instant access saver pays 3%

by David Masters
Abbey's new instant access saver pays 3%
Abbey has launched a new issue of its instant access saver account, paying interest at 3% gross/AER. This is equivalent to 2.4% after tax. It should be noted that the 3% rate includes a 1.5% bonus for the first 12 months. Savers can invest anything from £1,000 to £2 million, and can make an unlimited number of withdrawals without incurring any penalty. The ...




February 9, 2009

NatWest and RBS launch pensioner savings account

by David Masters
NatWest and RBS launch pensioner savings account
With interest rates plummeting on many savings accounts, NatWest and RBS have launched new savings products to help pensioners feeling the pinch. Many pensioners rely on interest from their savings as a source of income. Because of this, the two banks have launched their own specialist savings account for over 60s and for those drawing a pension. The Pensioner Fixed Rate ...