Principality BS has withdrawn and replaced its e-Saver account, replaced it with the e-Saver Issue 2.
A no notice internet operated account, it pays a yearly rate of 2.85% on as minimum investment of £1. The rate includes a 1.20% bonus for 12 months.
The terms of the product mean only new money is permitted while transactions must be made via a nominated account.
In a market largely made up of low rates, this eye catching relaunch is good news for savers. It offers one of the top paying rates in its class and the low opening balance should encourage people to save.
Investors would be well advised to remember the bonus expires after 12 months and to keep an eye on, with funds moved if necessary.
The e-Saver Issue 2 is awarded four out of five Moneyfacts stars.
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