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Product focus: Online accounts

Product focus: Online accounts

Category: Savings

Updated: 10/08/2010
First Published: 10/08/2010

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 It is now over 6 months old so the content may be out of date.

Online accounts are popular with those leading busy lives, as they can be accessed immediately, without the inconvenience of visiting a branch. Many banks and building societies offer savings accounts which can be operated online only and include introductory bonuses for a limited period. Here is a selection of the current best online accounts.

AA – AA Internet Extra Issue 3

This account pays 2.80% on its anniversary including a bonus of 2.30% for twelve months. Savers can invest between £1 and £1m. No advance notice is required 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 only.

SAGA – SAGA Internet Saver

SAGA's Internet Saver account pays 2.75% on its anniversary, including a 1.00% bonus for twelve months. After twelve months the gross rate has an underlying guarantee to be no lower than 2.00% below bank base rate. A monthly interest option is also available at 2.72% with the same bonus. Savers can invest between £1 and £1m. No notice is required to access funds, although all withdrawals must be made via a nominated account. The account can only be operated online by customers aged 50 and over.

Santander– eSaver Issue 2

This account from Santander pays a rate of 2.75% including a bonus of 2.25% variable for twelve months. A monthly interest option is available at 2.72% including a 2.23% bonus variable for twelve months. Investments range between £1 and £2m. Funds can be accessed immediately, although a maximum daily cash machine withdrawal limit of £300 applies. The account is available to savers aged 16 and over and can be operated online only.

Find the best savings accounts for you - compare savings accounts with bonuses

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 Any products featured may be withdrawn by their provider or changed at any time.

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