Product focus: Variable rate over 50s accounts - Savings - News - Moneyfacts


Product focus: Variable rate over 50s accounts

Product focus: Variable rate over 50s accounts

Category: Savings

Updated: 03/04/2012
First Published: 03/04/2012

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 It is now over 6 months old so the content may be out of date.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 investors, ranging from easy access to fixed rate bonds.

Here is a selection of some of the current best variable rate accounts available to mature savers.

West Brom Building Society – High Income Over 50 Notice 2

  • This account pays a monthly rate of 2.76% to savers with deposits between £1,000 and £75,000.
  • Advance notice of 90 days is required to access funds, although early access is allowed subject to 90 days' loss of interest.
  • The account can be operated by savers aged 50 and over in branch, by post or telephone.

SAGA - Saga Internet Saver Issue 3

  • SAGA's online account pays a rate of 2.75% on its anniversary including a bonus of 2.25% for twelve months.
  • A monthly rate is available at 2.72% with the same introductory bonus.
  • Savers can invest between £1 and £1 million.
  • Funds can be accessed without advance notice or penalty.
  • The account is available to savers aged 50 and over and can be operated, as the name suggests, online only.

Market Harborough Building Society - Onthedot Sixty+ Surfer

  • This account pays an annual rate of 2.35% to savers with deposit between £1 and £150,000.
  • A monthly interest option is also available paying 2.20%.
  • No notice is required to access money, although all withdrawals must be made by BACS to a nominated account or transferred to another Market Harborough account.
  • The account is available to savers aged 60 and over and 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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Best savings rates

Get a snapshot of the top best buy savings accounts, fixed rate bonds and cash ISAs to help you get more from your money.

Average five-year fixed bond rate falls below 2%

Long-term fixed rate bonds used to be the top solution for savers looking to get a decent return on their savings, but unfortunately, times have changed, with our latest data revealing that the average five-year rate has fallen to a new record low.

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.