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Product focus: Branch based accounts

Product focus: Branch based accounts

Category: Savings

Updated: 07/04/2010
First Published: 07/04/2010

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 It is now over 6 months old so the content may be out of date.

Despite the popularity of online and telephone banking many savers still prefer to practice a more traditional approach to saving, by conducting their finances in branch.

Here are the current top three accounts for those looking to lock funds away for a short fixed period with a view to receiving a guaranteed rate at the end of the term.

Post Office – Growth Bond Issue 11


This account pays a rate of 3.30% on maturity. Savers can invest between £500 and £1m but no further additions are allowed. Early access is allowed on account closure only, subject to a breakage charge which is calculated and advised to savers when they request the withdrawal of funds. The account can be operated in branch, by post, telephone or online by savers aged 16 and over.

Scottish Building Society – Mutual Bond


The Mutual Bond account pays 3.15% on maturity. Savers can invest between £1,000 and £500,000 and no additions are allowed. Early access is allowed, although this is subject to 90 days' loss of interest. The account can be operated by savers of all ages in branch or by post.

Northern Rock – Fixed Rate Bond Issue 387


This reasonably new account pays an annual rate of 3.15%. Savers can invest between £1 and £2m and further additions can be made while the issue is open. No early access is allowed. The account can be operated by savers of all ages in branch or by post.

Find the best savings account for you - Compare best selling 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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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