Product Focus: Introductory Bonus Accounts
Lots of providers offer an introductory bonus to attract new business. These bonuses usually only last 12 months so savers need to review their options before the period expires, to avoid reverting to a lower rate. Here is a selection of some of the best introductory bonus savings accounts where you can apply and make your savings over the internet.
Nationwide Building Society – MySave Online Plus
This fairly new account will pay a monthly rate of 2.99% (2.95% gross p.a) including an introductory bonus of 1.45% for 12 months. Savers can invest between £1,000 and £3m. One notice and penalty free withdrawal can be made within a year; any other withdrawals made during the same 12 months will mean the rate will drop to 0.10pc for the month the withdrawals made. All withdrawals must be made via a nominated account. The account is available to savers aged 16 and over and can be operated online only.
Post Office – Online Saver
This account will pay 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 can range between £1 and £2m. No notice is required to make a withdrawal, however all withdrawals must be made via a nominated account. The account can be operated by savers aged 18 and over only and can be managed online.
Santander– e-Saver Issue 2
A rate of 2.75% will be paid on this account and an introductory bonus of 2.25% variable for 12 months. Savers also have the option of receiving interest on a monthly basis at a rate of 2.72%, including an introductory bonus of 2.23% variable for 12 months. Savers can invest between £1 and £2m. Access funds is instant, although there is a limit of £300 when making a withdrawal. The account is available to anyone 16 years and over and can be operated via the internet.
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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 Any products featured may be withdrawn by their provider or changed at any time.
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