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Product focus: Internet savings accounts

Product focus: Internet savings accounts

Category: Savings

Updated: 17/12/2010
First Published: 16/12/2010

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 It is now over 6 months old so the content may be out of date.

Internet savings accounts are run specifically over the internet, so interest may be slightly higher because the accounts are cheaper to operate. Here is a selection of some of the best internet savings accounts available at present:

Post Office – Online Saver

This account pays a rate of:

  • 2.90% including an introductory bonus of 1.25% for 12 months.
  • A monthly interest option is also available at 2.87% including an introductory bonus of 1.23% for 12 months.
  • Investments range between £1 and £2m.
  • No notice is required to make a withdrawal. The account can be operated by savers aged 18 and over only and can be managed online.

Nationwide BS – MySave Online Plus

This account pays a rate of:

  • 2.75% monthly including an introductory bonus of 1.25% for 12 months.
  • Savers can invest between £1,000 and £3m.
  • No notice is required to make a withdrawal, however all withdrawals must be made via a nominated account.
  • One free withdrawal is allowed per annum.
  • A rate of 0.10% will be paid for the month in which further withdrawals are made.
  • The online saver can be operated by savers aged 16 years and over and can only be operated online.

Santander– eSaver Issue 2

A rate of:

  • 2.75% will be paid yearly on the anniversary of this account including an introductory bonus of 2.25% variable for 12 months.
  • A monthly option is also available at 2.72% including an introductory bonus rate of 2.23% variable for 12 months.
  • Investments range between £1 and £2m.
  • Savers aged 16 years and over can administer this account and the account can only be operated 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 Any products featured may be withdrawn by their provider or changed at any time.

 
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