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Product focus: Online silver saver accounts

Product focus: Online silver saver accounts

Category: Savings

Updated: 24/06/2011
First Published: 24/06/2011

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 It is now over 6 months old so the content may be out of date.

A large number of savings providers offer accounts designed specifically for senior savers, ranging from easy access to fixed rate bonds.

Here is a selection of some of the current best no notice deals available to mature savers.

All these deals can be operated online only.

SAGA - Saga Internet Saver Issue 2

  • This account pays a rate of 2.75% on its anniversary including a bonus of 1.00% for twelve months.
  • After twelve months the gross rate has an underlying guarantee to be no lower than 2.00% below the Bank of England base rate.
  • A monthly interest option is available at 2.72% with a bonus of 1.00% for twelve months.
  • Savers can invest between £1 and £1 million.
  • No advance notice is needed to access funds, although all withdrawals must be made via a nominated account.
  • This online only account can be operated by savers aged 50 and over.

Market Harborough Building Society – On the dot Sixty+Surfer

  • This account pays an annual rate of 2.35% and a monthly interest rate of 2.20%.
  • Savers can invest between £1 and £150,000.
  • Funds can be accessed without advance notice, although all withdrawals must be made via BACS to a nominated account or transferred to another Market Harborough account.
  • The account is available to investors aged 60 and over and can be operated online only.

Saffron Building Society - e-saver 55-plus Issue 2

  • This account pays an annual rate of 2.30%, with the gross rate guaranteed to be equal to 0.80% above base rate until 31.8.12. Savers who opt for monthly interest will receive a rate of 2.28% with the same guarantee.
  • Investments range between £1,000 and £1 million.
  • Funds can be accessed without advance notice and penalty.
  • The account can be operated by savers aged 55 and over and although this is an online account, the initial deposit can be made by cheque.

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 Any products featured may be withdrawn by their provider or changed at any time.

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