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Product focus: Silver saver no notice accounts

Product focus: Silver saver no notice accounts

Category: Savings

Updated: 03/12/2010
First Published: 03/12/2010

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 It is now over 6 months old so the content may be out of date.

Accounts which do not require advance notice are popular with a lot of savers, especially this time of year. It is important to check the terms and conditions of these accounts, however, as some have limitations on the number of withdrawals allowed per year.

Here is a selection of the current best no notice accounts for savers aged 50 and over.

SAGA – SAGA Internet Saver Issue 2

This account from SAGA pays 2.55% on its anniversary including a 0.80% bonus for twelve months. After twelve months the gross rate has an underlying guarantee to be no lower than 2.00% below bank base rate. A monthly interest option is also available at 2.52% also with a 0.80% bonus for twelve months. Savers can invest between £1 and £1m. Funds can be accessed without advance notice, although all withdrawals must be made via a nominated account. The account is available to savers aged 50 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%. The gross rate is guaranteed to be equal to 0.80% above bank base rate until 31st August 2012. A monthly interest option is also available at 2.28% with the same guarantee. Investments range between £1,000 and £1m and the initial deposit must be made by cheque. No advance notice is needed to access funds. The account can be operated online only by savers aged 55 and over.

Stroud & Swindon Building Society – Sixty-Plus PostSave (4)

This account pays 2.25% on its anniversary including a bonus of 0.85% for twelve months. Interest can also be paid monthly at a lower rate of 2.23% including a bonus of 0.84% for twelve months. Savers can invest between £500 and £250,000. Up to twelve notice free withdrawals (minimum £500 if by cheque) can be made per year. Further withdrawals will be subject to 30 days loss of interest. The account is available to savers aged 60 and over and can be operated by post only.

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 Any products featured may be withdrawn by their provider or changed at any time.

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