Sainsbury's Finance has launched a no notice account that offers a market leading rate to savers who prefer to carry out their transactions over the telephone.
The Easy Saver is a no notice telephone operated account which pays a yearly or monthly rate of interest of 2.80% on a minimum investment of just £1.
Savers are permitted to make five withdrawals a year, while the rate is guaranteed to be at least 2.00% above the base rate for the next 12 months.
The rate reverts to 0.50% if a sixth withdrawal is made or the balance goes below £1 or above £500K. Withdrawals must be made via a nominated account.
While withdrawals are restricted, this account is likely to prove very popular.
The easy saver has been awarded four out of five Moneyfacts stars.
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