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Fix for five with SAGA

Fix for five with SAGA

Category: Savings

Updated: 02/02/2011
First Published: 02/02/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

As part of a review of its bonds, SAGA has improved the rate offered on its long term fixed savings account.

Its five year fixed rate account now pays 4.65% (4.55% monthly) on a minimum investment of £1, and is operated by post or internet.

Earlier access permitted subject to a 365 day loss of interest in year one, a 320 day loss in year two, a 270 day loss in year three, a 180 day loss in year four and a 90 day loss in year five.

Additions are allowed whilst the issue remains open and the account is available to those aged 50 and over. The product is operated by Birmingham Midshires.

This review of long term bonds by SAGA has resulted in the five year bond rate increasing by 0.15% to 4.65% and the option of postal operation being introduced.

It has improved its position in the long term market and now sits just below the top rate.

Four out of five Moneyfacts stars have been awarded.

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