Post Office Money® – Online Saver – Issue 44
Post Office Money® has increased the rate on its easy access saver by 0.02% this week to pay 1.32% yearly. Due to the rate improvement, this deal may well attract savers who require quick access to their funds and wish to open the account with a small deposit. This deal does carry a bonus for 12 months of 0.82%, so it’s important that savers make a note to check their rate before this expires. The deal earns an Excellent Moneyfacts product rating in the process.
Key product details:
• Rate: 1.32% gross / 1.32% AER, payable on anniversary, monthly option of 1.31% gross / 1.31% AER available
• Notice / term: No notice
• Minimum opening amount: £1
• Maximum investment amount: £2 million
• Access: Unlimited withdrawals and access permitted
• Further additions: Permitted
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18, rate includes an introductory bonus of 0.82% for 12 months.
Cambridge Building Society – Five-year fixed rate cash ISA
Cambridge Building Society has launched a five-year fixed rate ISA this week, which takes a position within the top rates in its sector. Paying 1.70% yearly, the deal may attract savers looking to take full advantage of their ISA allowance over the longer-term, but also those who may require access to their funds subject to an interest penalty during the five-year term. The deal earns an Excellent Moneyfacts product rating in the process.
Key product details:
• Rate: 1.70% gross / 1.70% AER, payable yearly
• Notice / term: Fixed for five years
• Minimum opening amount: £500
• Maximum investment amount: ISA Allowance
• Access: Permitted subject to a 240-day loss of interest penalty
• Further additions: Permitted for 2019/2020 and 2020/2021 tax years
• Opening account: Branch, post or by phone
• Managing account: Online, mobile app, branch, post or by phone
• Other information: Minimum applicant age 16, paid into a variable rate account pending instructions/withdrawal.
