Product focus: Regular savings accounts - Savings - News - Moneyfacts

News

Product focus: Regular savings accounts

Product focus: Regular savings accounts

Category: Savings

Updated: 21/02/2011
First Published: 21/02/2011

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 It is now over 6 months old so the content may be out of date.

Savings accounts that pay interest on a monthly basis are often used by customers to supplement their income. A range of providers offer deals with both annual and monthly interest, often including introductory bonuses. Here is a selection of some of the best monthly interest accounts available to savers aged 50 and over.

SAGA – SAGA Internet Saver Issue 2

  • This online only deal pays a rate of 2.72% each month including a bonus of 1.00% for 12 months.
  • Investments range between £1 and £1m.
  • No advance notice is required to access funds, although all withdrawals must be made via nominated account.
  • Savers must be aged 50 and over.

Leeds Building Society – Flexible Freedom

  • The Flexible Freedom account pays a monthly rate of 1.75%.
  • The gross rate is guaranteed to be at least equal to 1.00% below bank base rate until 1/9/2011.
  • Savers can invest between £500 and £1m.
  • Funds can be accessed immediately.
  • The account can be operated in branch and by post by savers aged 50 and over.

Coventry Building Society – 50 Plus Notice

  • This account pays a monthly rate of 1.69% including a bonus of 0.60% for 12 months.
  • Savers can invest between £10,000 and £250,000.
  • Advance notice of 60 days is required to access funds, although early access is allowed subject to 60 days loss of interest.
  • The account is available to savers aged 50 and over and can be operated by post, telephone and 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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!
 
Close