BM Savings has made some reductions to the rates in its savings range, but the competitive edge of its easy access deal has not been lost, allowing it to maintain its position among the market-leaders of the Moneyfacts charts.
BM Online Extra (Issue 13) now has a competitive top 10 rate of 1.35% yearly, which includes a 0.85% bonus for 12 months.
BM ISA Extra (Issue 11), meanwhile, now has a yearly rate of 1.55% including a 12-month bonus of 1.05% (1.54% monthly with a bonus of 1.04%).
The online account is, as the name suggests, opened and operated solely online with an initial deposit of at least £1,000. Further additions to the account are welcomed and investors can also make unlimited, penalty-free withdrawals.
The ISA can be opened by post, by phone or online and then managed by post with a minimum deposit of just £1. Further additions are accepted and it is also possible to transfer in other cash and stocks & shares ISAs. Withdrawals can be made at any time without penalty.
Although the rate has decreased slightly, the online account still offers a competitive deal, enabling it to sit comfortably among the top 10 of its sector. The ability to add extra funds and make instant, penalty-free withdrawals gives this deal extra gloss, which is sure to attract investors. However, savers must be prepared to review the account's competitiveness in 12 month's time when the introductory bonus expires.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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