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


Product focus: Regular savings accounts

Product focus: Regular savings accounts

Category: Savings

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

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 It is now over 6 months old so the content may be out of date.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

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 Any products featured may be withdrawn by their provider or changed at any time.

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