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Product focus: Accounts from the high street

Product focus: Accounts from the high street

Category: Savings

Updated: 21/09/2010
First Published: 21/09/2010

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 It is now over 6 months old so the content may be out of date.

Over recent years various well-known high street brands have successfully branched out into the financial world.

The Post Office, supermarkets and other retail groups offer a variety of savings products, ranging from ISAs, notice and fixed rate bond accounts.

Here is a selection of the current best no notice online accounts offered by familiar high street brands. All of the following accounts include an introductory bonus.

Post Office – Online Saver

The Online Saver account from the Post Office pays an annual rate of 2.75% including a bonus of 1.25% for twelve months. A monthly interest option is available at 2.72% including a bonus of 1.23% for twelve months. Investments range between £1 and £2 million. Funds can be accessed without advance notice, although all withdrawals must be made via a nominated account. The account is available to savers aged 18 and over and as the name suggests, can be operated online only.

Tesco Bank – Internet Saver

The rates for this online account are split by investment amounts. Deposits between £1 and £999,999 will receive an annual rate of 2.60% including a 1.35% bonus for twelve months. Investments of £1m and over will receive 1.25%. The bonus only applies to new Internet Saver customers and only one account can be held per person. Funds can be accessed instantly without advance notice or penalty, although all withdrawals must be made via a nominated account. The account can be operated by savers aged 18 and over.

Sainsbury's Finance – Easy Saver

The returns for the Easy Saver account are split by how many withdrawals are made per year. Savers who make up to five withdrawals a year will receive a rate of 2.60% on its anniversary, including a bonus of 2.10% for twelve months. If more than six withdrawals are made, a rate of 0.50% with no bonus will be paid. A monthly interest option is available at 2.57% with a bonus of 2.07% for twelve months, for savers who make up to five withdrawals. Those who make six or more withdrawals will receive a monthly rate of 0.50%. Investments range between £1 and £2 million. No notice is required to access funds, although all withdrawals must be made via a nominated account. The account can be operated by savers aged 18 and over by telephone or online.

Find the best savings rates for you - Compare 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.

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