Harrods Bank has reduced the rate paid on its easy access savings account, but despite this, it remains a competitive force in the market and keeps its place in the Moneyfacts charts.
Instant Savings Issue 2 now pays a still-competitive variable rate of 1.31% AER (1.30% quarterly), enabling it to retain its place among the top 10 accounts of its sector.
This account can be opened in branch, by post and online before becoming branch and postal-operated. It is also possible to manage the account by phone if arranged in advance. An investment of at least £25,000 is required to open an account.
Further additions can be made at any time while unlimited, penalty-free withdrawals can be made without notice, giving savers complete flexibility.
Savers who already have a comfortable sum of money to invest but who want flexible access will continue to be attracted to this deal. Although there has been a rate reduction, it still pays a top-10 rate and offers complete access to the investor, giving them a wealth of desirable flexibility.
Moneyfacts rating: Excellent
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