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Product focus: Monthly interest accounts

Product focus: Monthly interest accounts

Category: Savings

Updated: 15/03/2011
First Published: 15/03/2011

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 It is now over 6 months old so the content may be out of date.

Focus in the savings market has been on ISAs over recent weeks with many providers launching new tax-free deals.

A range of competitive new deals have been released, however in the notice and easy access market.

Here is a selection of some monthly interest accounts launched over recent weeks.

West Brom Building Society – WebSave Easy Access

  • This account pays a monthly rate of 2.96% including a bonus of 1.96% until 31.3.12.
  • Investments range between £1,000 and £250,000.
  • 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 16 and over.

Melton Mowbray Building Society – Online 100 Day Notice

  • This account pays 2.75% a month. Savers can invest between £1,000 and £250,000.
  • Advance notice of 100 days must be given to access funds and early access is not allowed.
  • Those who do wish to access funds at short notice are restricted to a maximum withdrawal limit of £10,000 per day.
  • The account can be operated online only by savers aged 16 and over.

Post Office – Online Saver Issue 2

  • Post Office pays a monthly rate of 2.57% including a bonus of 0.93% for 12 months.
  • Savers can invest between £1 and £2m.
  • Funds can be accessed without advance notice and penalty, 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 Any products featured may be withdrawn by their provider or changed at any time.

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