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Product focus: Monthly interest bonus accounts

Product focus: Monthly interest bonus accounts

Category: Savings

Updated: 05/10/2010
First Published: 05/10/2010

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 It is now over 6 months old so the content may be out of date.

Research from National Savings & Investments has suggested that savers are placing larger amounts of money away each month, similar to the levels seen before the credit crunch.

The findings show that the amount savers are putting away on a monthly basis has risen from £81.94 to £85.21.

Savers looking for an account which pays interest on a monthly basis have plenty of good savings rates to choose from.

Here is a selection of the current best internet savings accounts which pay monthly interest and all include an introductory bonus.

NatWest – e-Savings

This latest account from NatWest pays 2.85% including a bonus of 1.85% for twelve months, for customers who open an account after 29 September 2010. Savers can invest a minimum of £1 and there is no maximum amount. No advance notice is required to access funds. The account can be operated online only by savers aged 18 and over.

ING Direct (UK) – Savings Account

ING Direct (UK)'s account pays 2.72% including a bonus of 2.22% for twelve months. The gross rate is guaranteed to be fixed at 2.72% for twelve months. Investments range between £1 and £1 million. No advance notice is needed to access funds, although all withdrawals must be made via a nominated account. The account is available to savers aged 18 and over and can be operated online and by telephone.

Post Office – Online Saver

The Online Saver account pays a monthly rate of 2.72% including a bonus of 1.23% for twelve months. Savers can invest between £1 and £2 million. Funds can be withdrawn without advance notice or penalty, although all withdrawals must be made via a nominated account.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 Any products featured may be withdrawn by their provider or changed at any time.

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