Product focus: Online accounts

Category: Savings
Date: 3/9/2010

The internet is a convenient and effective way to conduct business, allowing savers to check their accounts at the click of a button. Many providers offer online only accounts for customers with busy lifestyles and who prefer to have control over their finances, rather than visiting a branch. Here are the current top three online only accounts , which offer monthly interest.

Northern Rock – E-Saver Issue 2

This account pays a rate of 2.48pc each month including a 1.00pc bonus for twelve months. Savers can invest between £1 and £250,000. No notice is required to access funds, although all withdrawals must be made via a nominated account. Savers must be aged 16 and over.

Santander – e-Saver Issue 2

Santander's e-Saver account pays a monthly rate of 2.47pc including a variable bonus currently at 1.97pc for twelve months. Investments range between £1 and £2m. Funds can be accessed immediately without notice or penalty with a cash card, although there is a daily cash machine withdrawal limit of £300. Savers need to be aged 16 and over to operate this account.

Barnsley Building Society – Online Saver Issue 2

This account pays a monthly rate of 2.47pc. Savers can invest between £1 and £1m. No advance notice is required to access funds, although all withdrawals must be made via nominated account. Savers must be aged 16 and over to operate this 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 Any products featured may be withdrawn by their provider or changed at anytime.