Offshore savings Updated:
Bradford & Bingley has launched a new Easy Saver account, paying 2.50%, and a Global Saver account that pays 2.75%. The Easy Saver is a no notice product with a minimum investment of £5K. It requires transactions of at least £250, while withdrawals must be to an account in the customer's name or by cheque payable to the customer. The Global Saver is a 60 day notice account, which also requires a minimum investment of £5K. Early access incurs a 90 day loss of interest penalty, while withdrawals are subject to the same terms as the Easy Saver. Bradford & Bingley's decision to simplify its range of products with two accounts that are in the top five in their respective fields is a welcome one. Both accounts offer a deferred interest option, which will appeal to consumers keen to delay their tax liability, while the low minimum transaction is also attractive. Both accounts are awarded four out of five Moneyfacts stars.
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