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Product focus: Online savings

Product focus: Online savings

Category: Savings

Updated: 12/01/2010
First Published: 12/01/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Many providers offer savers a monthly interest option, often as a means of helping to supplement their income. There are various monthly interest products on the market which allow savers to conduct their business online and do not require advance notice to access funds. Here are the current top three deals.

Skipton Building Society – Web Saver

This account pays a rate of 2.66pc. The gross rate is guaranteed to be at least 2.40pc until 31st December 2011. Investments range from £500 to £1m. No notice is required to access cash, although all withdrawals must be made to a nominated external account or internal transfer to a Skipton Building Society account. Savers must be aged 16 and over to operate the account. Deposits can also be made in branch and by post.

Northern Rock – E-Saver Issue 2

The E-Saver Issue 2 account pays a rate of 2.48pc including a bonus of 1.00pc for 12 months. Savers must invest between £1 and £250,000. All withdrawals must be made via a nominated account and further additions are allowed, although the minimum amount by cheque is £250. Savers must be aged 16 and over to operate the account.

Santander – eSaver Issue 2

This account from Abbey, recently rebranded Santander, pays a rate of 2.47pc including a bonus of 1.97pc variable for 12 months. Investments range from £1 and £2m. Savers can access funds immediately, although there is a cash machine withdrawal limit of £300 a day. Account holders must be aged 16 and over.

Find the best savings accounts for you - Compare internet / online savings accounts

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 Any products featured may be withdrawn by their provider or changed at any time.