SAGA has been welcomed back into the Moneyfacts charts with its new no notice account for the over-50s, which offers one of the top rates for its sector.
Telephone Saver (Issue 14) pays a rate of 1.50% yearly, including a 1.00% bonus for 12 months. There is also a monthly saving option for those wanting a regular income which pays 1.49% per month (including a 0.99% bonus).
This telephone-operated account can be opened with a minimum investment of £1,000. Access to funds is instant and withdrawals are unlimited, which is a comforting feature for those unwilling to lock money away.
Further additions are also welcomed but they must be made via a nominated account.
This account is only available to investors who are aged 50 or over.
This account is an enticing offer for the older investor. The rate is competitive and it sits among the market-leaders for its terms. The option of a monthly income gives the account flexibility, as does the ability to access funds at any time. However, the competitiveness of this account must be reviewed in a year's time when the bonus period comes to an end.
Four Moneyfacts stars have been awarded.
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