News

ASDA enters the savings market

ASDA enters the savings market

Category: Savings
Date: 15/11/2007

ASDA has entered into the savings accounts market with a bang, offering a competitively priced no notice internet savings account paying 6.35% with a minimum deposit of £100. The rate includes a 0.60% bonus for the first 12 months, and the underlying rate is guaranteed to be at least equal to Base Rate until 31.10.10.

We think it's good to see another entrant in to the very competitive internet savings market and with this intense competition driving higher rates for savers, this can only be good news.

At 6.35% it's one of the top internet savings accounts around. But you need to be aware that the rate will become less competitive once the bonus expires after the first year. Traditional banks and building societies are really having to ramp up their game to keep their savings accounts competitive against the new entrants such as supermarkets and overseas providers.

Look beyond your high street and you will be surprised at just how uncompetitive your existing savings accounts have become.

Best buys - savings accounts

Best buys - internet savings accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Do you know how much your impulse buys cost?

The odd takeaway coffee, or the occasional splurge on the latest game release, may not seem to lighten your wallet too much at the time, but over the course of your lifetime, all these odds and ends can add up to a rather eye-watering sum.

267 savings accounts now beat inflation

The latest official inflation figures, released this morning, show that the Consumer Prices Index (CPI) rose to 1.3% in October - which means there are now 267 savings accounts that will beat it.

How to get more from your savings

Do you want to get more from your savings? Chances are, the answer is a big fat “yes”. Many people have seen their hard-earned cash languish in poor-paying accounts for the last few years, so just what can you do? Here are a few things you can try...

Advertisements: