Teachers BS has launched a new issue of its Reward Saver with an improved rate.
Now paying 2.80%, the account compares favourably with others in its field, albeit that the rate includes a bonus of 1.40% for 12 months.
Indeed, careful budgeting will be necessary to benefit from this high rate as only one free withdrawal is permitted in the first year - the rate will drop by 1.40% from the date of any second withdrawal within the bonus period.
It must also be remembered that a full review of the account's competitiveness will be necessary after 12 months once the bonus expires.
The minimum investment required is £3K, while additional investments are welcomed while the issue remains open.
Sure to appeal to savers who prefer telephone banking, this account earns four out of five Moneyfacts stars.
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 Any products featured may be withdrawn by their provider or changed at any time.
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