Saga launches account for web savvy over 50s - Savings - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Saga launches account for web savvy over 50s

Saga launches account for web savvy over 50s

Category: Savings

Updated: 18/05/2010
First Published: 18/05/2010

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 It is now over 6 months old so the content may be out of date.
Saga has launched a new account aimed at savers aged 50 or over who are comfortable with banking online.

The Saga Internet Saver is a notice account available to those aged 50 and over, paying a yearly rate of 2.75% (2.72% monthly) on a minimum investment of just £1.

The rate includes 1.00% bonus for the first year, and transactions must be made via a nominated account. The account is operated by Birmingham Midshires.

After 12 months the gross annual rate has an underlying guarantee to be no lower than the Bank of England base rate, with a minimum rate of 0.25% and a maximum of 8%.

Paying 2.75% this account is in the top ten in its sector, although investors should look at other options for their funds before the 12 months bonus period expires.

Four out of five Moneyfacts stars have been awarded.

Find the best savings accounts for you - Compare over 50's 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 Any products featured may be withdrawn by their provider or changed at any time.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

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.
 
Close