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Product Focus: 50 Plus Accounts

Product Focus: 50 Plus Accounts

Category: Savings

Updated: 10/07/2009
First Published: 10/07/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

By the time savers reach 50 years of age, many will have accumulated significant amounts of money. It is for this reason that they are a lucrative target for the banks and building societies, with many offering accounts specifically aimed at these customers.

Stroud & Swindon Building Society – 50 Plus Notice

The 50 Plus Notice account from Stroud & Swindon Building Society pays a market leading 3.20 per cent, including a 1.20 per cent bonus until 30 June 2010. Savers can invest between £1,000 and £500,000 into the account, which can be operated in branch, by post or telephone. If savers wish to make a withdrawal, 90 days' notice must be given, although earlier access is available subject to 90 days' loss of interest.

United Trust Bank – 50 Day Notice (Over 50s)

United Trust Bank is currently paying 2.50 per cent on its 50 Day notice.The account can be operated by post, telephone or fax and savers can invest between £500 and £500,000. In order to access funds, savers must give 50 days notice. Earlier access is not available.

Coventry Building Society – Sixty-Plus Post Save (Issue 3)

Savers aged 60 years are being offered a rate of 2.25 per cent from Coventry Building Society on its Sixty Plus Post Save account. The rate includes a 0.85 per cent bonus for 12 months and the account guarantees to be at least 0.25 per cent above bank base rate until 31 March 2010. Savers can invest between £500 and £250,000 into the account. No notice is required to make a withdrawal, but savers are limited to 12 withdrawals per annum and must make a minimum withdrawal of £500.

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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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