Beehive Money – Online Saver
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“Climbing the rate table within the easy access market this week is Beehive Money, matching the top rate available for new customers at 1.50%. After a rate rise of 0.10%, its Online Saver now sits shoulder-to-shoulder with its competition, Virgin Money and Marcus by Goldman Sachs® (based on 1.50% AER). It is worth mentioning that the deal requires a minimum deposit of £2,500, but it does not carry a short-term bonus or limit the number of withdrawals. The deal earns an Excellent Moneyfacts product rating in the process.”
Key product details:
- Rate: 1.50% gross/1.50% AER, payable yearly
- Minimum opening amount: £2,500
- Maximum investment amount: £250,000
- Access: Unlimited withdrawals and access permitted
- Further additions: Permitted, via nominated account
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16
Post Office Money® – Online Saver
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“Savers with as little as £1 to invest and are searching for an instant access account will be delighted with the latest change from Post Office Money®. Its Online Saver rate has benefitted from a 0.10% rate rise to stand at 1.45% this week (payable yearly) and, as a result, it now pays just 0.05% less than the market-leading alternatives. As this account includes a 1.20% bonus for 12 months, savers would be wise to review the account a few weeks before it expires, as the rate will drop to 0.25%. The deal earns an Excellent Moneyfacts product rating in the process.”
Key product details:
- Rate: 1.45% gross/1.45% AER, payable yearly
- Minimum opening amount: £1
- Maximum investment amount: £2 million
- Access: Unlimited withdrawals and access permitted
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18, introductory bonus of 1.20% for 12 months
