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Product focus: Silver savers’ accounts

Product focus: Silver savers’ accounts

Category: Savings

Updated: 26/10/2010
First Published: 26/10/2010

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 It is now over 6 months old so the content may be out of date.

Savings accounts which pay monthly interest are often used as a way to help supplement income, and are popular with older savers. A growing number of older people are also turning to the internet as a convenient and secure way to conduct their finances.

Here is a selection of the current best monthly interest online savings account rates for older customers. All of the following accounts allow savers instant access to funds, without advance notice or penalty.

SAGA – SAGA Internet Saver

SAGA's online account pays a monthly rate of 2.72% including a bonus of 1.00% for twelve months. Savers can invest between £1 and £1 million. No notice is required to access funds, although withdrawals must be made via a nominated account. The account is available to savers aged 50 and over.

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

This account pays a monthly rate of 2.28%. The gross rate is guaranteed to be equal to 0.80% above bank base rate until 31st August 2012. Savers can invest between £1,000 and £1 million. Funds can be accessed without advance notice or penalty. The account can be operated online only by savers aged 55 and over.

Market Harborough Building Society – onthedot Sixty + Surfer

Available to savers aged 60 and over, this account pays a rate of 2.20%. Investments range between £1 and £150,000 and initial deposits must be made by cheque. No advance notice is required to access funds. The account can be operated online only.

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 Any products featured may be withdrawn by their provider or changed at any time.

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