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Product focus: Internet savings accounts

Product focus: Internet savings accounts

Category: Savings

Updated: 07/12/2010
First Published: 07/12/2010

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 It is now over 6 months old so the content may be out of date.

The way we conduct our finances has changed considerably over recent years. Internet savings accounts make up a huge part of the savings market nowadays, with many products designed specifically for online customers. Here is a selection of some of the best online accounts which do not require advance notice when accessing funds.

Post Office – Online Saver

This account from the Post Office pays:

  • 2.90% yearly including an introductory bonus of 1.25% for twelve months.
  • A monthly interest option is also available at 2.87% including an introductory bonus rate of 1.23% for twelve months.
  • Savers can invest between £1 and £2m.
  • No notice is required to access money, although all withdrawals must be made via a nominated account.
  • This account can be operated only online and is available to savers aged 18 years and over.

Santander – eSaver issue 2

This Account pays:

  • A rate of 2.75% will be paid on this account's anniversary including an introductory bonus of 2.25% variable for twelve months.
  • A monthly interest option is also available at 2.72% including an introductory bonus of 2.23%, variable for twelve months.
  • Investments range between £1 and £2m and savers can access funds instantly.
  • The account is available to customers aged 16 years and over and can be operated only online.

ING Direct (UK) – Savings Account

This account pays:

  • A monthly rate of 2.67%. The AER is guaranteed to be fixed at 2.70% for twelve months.
  • Savers can invest between £1 and £100,000.
  • No advance notice is required to access funds, although all withdrawals must be made via a nominated account.
  • The account can be operated online only by savers aged 18 and over.

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 Any products featured may be withdrawn by their provider or changed at any time.

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