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Product Focus on Online Saving Accounts.

Product Focus on Online Saving Accounts.

Category: Savings

Updated: 25/09/2009
First Published: 25/09/2009

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 It is now over 6 months old so the content may be out of date.

Saving accounts that are operated online have lower overheads for the provider and this is passed on to the customer through higher savings rates. Online savers also benefit from being able to access their money at any time, without having to rely on branch opening times. With the average rate typically double that of branch based accounts, they are certainly worth considering. Some of the best rates for online savings accounts are:

Citibank – Flexible Saver Issue 6

The Flexible Saver account from Citibank is offering the market leading rate for easy access, paying 3.25pc, including a 2.25pc bonus for 12 months. The account is open to new customers who invest up to £1m. The account can be operated in branch or by telephone, as well as online. Savers wishing to make a withdrawal can get instant access to their money.

Bradford & Bingley – Notice Saver Online

Bradford & Bingley is currently paying 3.25pc, including a 2.80pc bonus for 12 months. Savers can invest up to £2m in the online operated account, with a monthly interest option available for those looking for a more regular income. Savers wishing to make a withdrawal must either give 60 days' notice or lose 60 days' interest for earlier access.

Leeds Building Society – Online Access Account Issue 2

The Online Access Account from Leeds Building Society is paying 3.05pc, including a 1.00pc bonus for 12 months. Between £100 and £1m can be invested in the online operated account. No notice is required to access funds, but all withdrawals must be made via a nominated current account.

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 Any products featured may be withdrawn by their provider or changed at any time.

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