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Product focus: Online savings account

Product focus: Online savings account

Category: Savings

Updated: 17/09/2009
First Published: 17/09/2009

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 It is now over 6 months old so the content may be out of date.

Online savings accounts remain a popular choice, mainly because they offer savers the convenience of conducting business at the click of a mouse whenever and wherever they choose. Here are the current top internet based savings accounts.

ING Direct (UK) – Savings Account

This account pays a rate of 3.16pc including a bonus of 2.66pc for 12 months. The gross rate is guaranteed to be fixed at 3.16pc for 12 months. Interest is paid monthly for this deal and is only available for new savings account customers. Investments range between £1 and £1m. No notice is required to access funds. The account can be operated by telephone and online. Withdrawals must be made by cheque via a nominated current account.

Alliance & Leicester – Online Saver Issue 5

This account pays a rate of 3.15pc including bonuses. The bonuses for 12 months are tiered depending on the investment amounts. From £1,000 to £24,999 the bonus is 2.65pc; from £25,000 to £49,999 it is 2.40pc; from £50,000 to £249,999 it is 2.15pc and from £250,000 to £2m it is 1.65pc. No notice is required to access funds and withdrawals must be made via a nominated account. Savers must be aged 18 or over.

Leeds Building Society – Online Access Account

This account pays a rate of 3.05pc including a bonus of 1.00pc until 31st July 2010. Investments range from £100 to £1m. Savers do not need to give notice to access funds, although all withdrawals must be made via a nominated account. Account holders must be aged 18 or over.

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 Any products featured may be withdrawn by their provider or changed at any time.

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