Selected savings deals get a rate rise | Product News - Moneyfacts

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Selected savings deals get a rate rise

Selected savings deals get a rate rise

Category: Savings
Date: 29/09/2015

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 It is now over 6 months old so the content may be out of date.

Post Office Money has increased the rates paid on selected savings accounts by up to 0.29%, allowing its easy access deal and one and two-year fixed accounts to firmly establish themselves in the Moneyfacts charts.

The basics…

Online Saver Issue 16 now pays a market-leading 1.61% yearly, including a 0.96% bonus for 12 months (1.59% monthly including a 0.95% 12-month bonus), enabling it to move to the very top of the charts.

Meanwhile, the one-year version of Online Bond Issue 19 now pays 2.01% on maturity (1.99% monthly) and its two-year counterpart pays 2.31% yearly (2.28% monthly), ensuring that both sit comfortably in the top 10 of their respective sectors.

The finer details…

All accounts must be opened and operated online. Savers should note that access is via a nominated account.

Online Saver requires a minimum deposit of just £1, and permits an unlimited number of additions and withdrawals, all of which can be made without notice. Savers should note, however, that the account's competitiveness is best re-evaluated after the 12-month bonus expires.

The fixed bonds need an initial investment of at least £500. Additional deposits are not allowed, and early access is only permitted in exceptional circumstances. If granted, a breakage fee will apply.

Why we like them…

All of these accounts have enjoyed rate rises that have enabled them to cement their positions in the charts. The easy access deal is particularly competitive, sitting right at the top of its sector. Savers are likely to be drawn to its flexibility, and the fact that a monthly interest option is available, which will suit those who are looking to secure a regular income.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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