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Product Focus: Online Savings Accounts

Product Focus: Online Savings Accounts

Category: Savings

Updated: 02/03/2010
First Published: 02/03/2010

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 It is now over 6 months old so the content may be out of date.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 are a popular choice, mainly for savers who spend a lot of their time on the move and have little time to visit their provider's branch to conduct business.

Accounts which require advance notice may be a good choice for savers who may be tempted by having 24/7 access to funds.

Here are the current top three online notice accounts.

FirstSave – 90 Day Notice

This account pays a rate of 3.25% on its anniversary. The AER is guaranteed to be 2.75% above bank base rate until 14th March 2010 and 2.50% above bank base rate. Savers can invest between £100 and £2 million. All withdrawals must be made via a nominated account. As the name suggests 90 days' notice must be given to access funds. Early access is allowed, although this is subject to 90 days' loss of interest. Savers must be aged 18 and over to operate this account.

Melton Mowbray Building Society – Online 30 Day Notice

The Online 30 Day Notice account pays a monthly rate of 2.55%. Savers can invest between £1,000 and £250,000. 30 days' notice must be given to access funds. Early access is allowed, although this is subject to 30 days' loss of interest. Withdrawals must be made via a nominated account and there is a maximum daily withdrawal amount of £10,000. Savers must be aged 16 and over.

Market Harborough Building Society – onthedot 30 Day Notice

This account pays a rate of 2.55%. Investments range between £1 and £150,000 and although the account can be operated online only, the initial deposit must be made by personal cheque. 30 days' notice is required to access funds. Early access is subject to 30 days' loss of interest. Savers must be aged 16 and over.

Find the best savings accounts for you - Compare internet 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 Any products featured may be withdrawn by their provider or changed at any time.

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