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Category: Savings Date: 8/31/2010
A growing number of savers are choosing monthly interest accounts, mainly as a way to help supplement income.
There are a variety of monthly interest products available in the market. Here is a selection of the current best which can be operated online only and offer an introductory bonus.
Post Office – Online Saver
Post Office's latest online only account pays 2.72% including a bonus of 1.23% for twelve months. Savers can invest between £1 and £2 million. No notice is required to access funds, although all withdrawals must be made via a nominated account. The account can be operated by savers aged 18 and over.
Santander – eSaver Issue 2
This account pays a rate of 2.72% including a bonus of 2.23% variable for twelve months. Savers can invest between £1 and £2 million. Funds can be accessed instantly, although there is a daily cash machine withdrawal limit of £300. The account is available to savers aged 16 and over and can be operated online only.
SAGA – SAGA Internet Saver
SAGA's Internet Saver account, available to savers aged 50 and over, pays a monthly rate of 2.72% including a 1.00% bonus for twelve months. Investments range between £1 and £1 million. Savers do not need to give advance notice to access funds, although all withdrawals must be made via a nominated account.
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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 Any products featured may be withdrawn by their provider or changed at anytime.