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Product focus: High street savings

 Product focus: High street savings

Category: Savings

Updated: 02/12/2009
First Published: 30/11/2009

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 It is now over 6 months old so the content may be out of date.

The UK savings market has seen a number of new entrants in the last few years, all offering attractive rates as they look to increase their brand awareness. However, despite the banking crisis, a number of savers still prefer to go for a high street name that is well known to them. Smaller players tend to offer the best deals, but there are competitive deals from the high street.

Alliance & Leicester – Online Saver Issue 6

The Online Saver account from Alliance & Leicester is paying 3.00pc, including a variable bonus of between 1.50pc and 2.50pc for 12 months, depending on the amount invested. Savers can invest up to £2m into the online operated account. No notice is required to make a withdrawal, but all transactions must be made via a nominated account.

Nationwide Building Society – 3 Year 50+ Fixed Rate ISA

Savers aged 50 years and over and being offered a market leading rate of 4.00pc from Nationwide Building Society on its 3 Year 50+ Fixed Rate ISA. Savers can invest from £1 into the account, which accepts transfers in from other providers. The account also has a monthly interest option for those looking for a regular income. Once opened, further additions are not permitted and access to funds during the term is available on closure only and will be subject to a loss of 270 days' interest.

Post Office – Growth Bond Issue 10

For savers looking for a short term commitment, the Post Office is offering some of the highest rates on the market. Its two year bond pays a market leading 4.25pc, while its one year bond pays just below the market leader at 3.70pc. Savers can invest between £500 and £1m into the bond, which can be operated in branch, online, by post or telephone. Once opened, further additions and earlier access is not permitted.

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 Any products featured may be withdrawn by their provider or changed at any time.