Easy access deal holds on to top 10 | Product News - Moneyfacts

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Easy access deal holds on to top 10

Easy access deal holds on to top 10

Category: Savings
Date: 07/07/2015

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 It is now over 6 months old so the content may be out of date.

West Brom Building Society has reduced the rate of its easy access account, but despite this, it is has retained its hold on the Moneyfacts charts.

The basics…

Limited Access Saver now pays a yearly rate of 1.25% (1.24% monthly), enabling it to maintain its place among the top 10 accounts of its sector.

The finer details…

This account must be opened and operated in branch with a minimum deposit of just £1.

Further additions can be made at any time and up to six penalty-free withdrawals can be made per account year (ending 31 March). However, seven or more withdrawals will result in the interest paid being reduced to 0.50% for the remainder of the year.

Why we like it…

The rate reduction to this account has failed to dent its competitiveness, allowing it to remain among the top accounts of its sector. The option of monthly interest will continue to appeal to those who want to secure a regular income, while the ability to make up to six withdrawals per year will satisfy those who may require access to their cash. However, savers must remember that exceeding the withdrawal limit will result in a hefty interest penalty.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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