West Brom Building Society has launched a new variable easy access account, earning an 'excellent' review for its attractive rate and terms.
Direct Limited Access Saver pays a competitive variable rate of 1.40% yearly (1.39% monthly), a top-10 rate in its sector.
The finer details…
This account can be opened and managed by post and phone with a minimum investment of £1,000.
Further additions are welcomed and withdrawals require no notice. However, savers should note that only six penalty-free withdrawals are allowed per year, with additional withdrawals resulting in a reduced interest rate of 0.50% yearly for the remainder of the year (up to 30 April).
Why we like it…
This deal offers savers an enticing rate as well as account flexibility, which is sure to garner interest. The option to add funds is a welcome bonus, as is the option of a monthly interest rate, but savers will need to plan withdrawals carefully as repeated access to funds will result in a much reduced rate being paid for the remainder of the year.
Moneyfacts rating: Excellent
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