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Product focus: Online savings accounts

Product focus: Online savings accounts

Category: Savings

Updated: 16/11/2010
First Published: 16/11/2010

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 It is now over 6 months old so the content may be out of date.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 savings accounts have soared in popularity over recent years as more people have become comfortable with carrying out financial matters on the internet. Customers can sometimes be afforded better rates on savings accounts that are operated exclusively online.

Here is a selection of some of the best internet savings accounts available at present:

Post Office – Online Saver

This account pays a rate of 2.90% yearly including an introductory bonus of 1.25% for twelve months. A monthly option is also available at 2.87% including an introductory bonus of 1.23% for twelve months. Savers can invest between £1 and £2m. No notice is required to make a withdrawal. The account can be operated by savers aged 18 and over only and can be managed online.

Santander– eSaver Issue 2

2.75% is paid on its anniversary including an introductory bonus of 2.25% for twelve months. A monthly interest option is also available at 2.72% including an introductory bonus of 2.23% for twelve months. Investments range from £1 to £2m. Savers have instant access to funds. The account can be operated by savers aged 16 and over only and can be managed online.

West Bromwich BS – WebSave Plus

A rate of 2.61% will be paid yearly on this account. A monthly interest option is also available at 2.58%. Savers can invest between £500 and £250,000. One withdrawal per annum is free; any additional withdrawals will be subject to 120 days' loss of interest. The account can be operated by savers aged 16 and over only and can be managed online.

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 Any products featured may be withdrawn by their provider or changed at any time.

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