Product focus: Branch based accounts - Savings - News - Moneyfacts

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Product focus: Branch based accounts

Product focus: Branch based accounts

Category: Savings

Updated: 27/01/2010
First Published: 27/01/2010

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 It is now over 6 months old so the content may be out of date.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 the internet has become a fast and easy way for savers to conduct their business.

However, branch based accounts remain popular for those who are looking for a more personal service.

A range of providers offer short term fixed rate accounts for such customers and here are the current top three.

Kent Reliance Building Society – One Year Fixed Rate Savings Issue One

This account pays a rate of 3.00% on maturity. Savers can invest between £100 and £1 million, although the monthly interest option, available at 2.96%, requires a minimum deposit of £10,000. Early access is not allowed, although further additions can be made while the issue is open. There are no age restrictions for savers.

Nationwide Building Society – 1 Year Fixed Rate Bond


The rate for this account is determined by how much is invested. For deposits between £1 and £9,999 a rate of 2.75% is paid, while for investments between £10,000 and £2 million the rate increases to 3.00%. A monthly interest option is available with the same tiers, but with lower rates of 2.70% and 2.95%. Early access is allowed on closure only, subject to 90 days' loss of interest. No further additions are allowed. There are no age restrictions for this account.

Alliance & Leicester – 1 Year Fixed Rate Bond

Alliance & Leicester's one year bond also pays different rates, depending on the amount invested. For deposits between £1 and £9,999 a rate of 2.50% is paid, while for deposits between £10,000 and £2 million, 3.00% is paid. Early access is allowed, subject to 90 days' loss of interest. No further additions are allowed. Savers must be aged 18 and over.

Find the best savings accounts for you - Compare short term bonds

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 Any products featured may be withdrawn by their provider or changed at any time.

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