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Product Focus: Instant Access Accounts

Product Focus: Instant Access Accounts

Category: Savings

Updated: 10/06/2009
First Published: 10/06/2009

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 It is now over 6 months old so the content may be out of date.

Moneyfacts figures show that fixed rate bonds are the second most popular accounts with savers after instant access accounts, with the average amount invested just over £36,000. Providers are still attempting to outdo each other to offer top rates, so savers can get some very competitive deals in the current market.

AA – Telephone 5 Year Fixed Rate Bond

The Telephone 5 year fixed rate bond from the AA pays a market leading rate of 4.50 per cent or 4.41 per cent for those looking for monthly interest. Savers can invest between £500 and £5 million into the bond, with further additions permitted whilst the bond remains open. No access is permitted during the term.

Birmingham Midshires – 3 Year Bond

Birmingham Midshires is paying 4.35 per cent on its 3 year bond , or 4.27 per cent for those requiring monthly interest. Up to £10 million can be invested into the bond, which is operated by telephone. Savers can make further additions to the bond whilst the issue remains open and access to funds is available during the term subject to 90 days' loss of interest.

National Counties Building Society – 35th Issue Savings Bond

National Counties is offering the highest rate for savers looking to commit funds for just one year paying 3.91 per cent yearly on its 35th Issue Savings Bond. The bond offers savers looking for a more regular income the option of monthly interest at a rate of 3.84 per cent. Savers can invest between £20,000 and £150,000 into the bond, which can be operated in branch, online, by post or telephone. Earlier access and further additions are not permitted.

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 Any products featured may be withdrawn by their provider or changed at any time.

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