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Product focus: Variable rate over 50s accounts

Product focus: Variable rate over 50s accounts

Category: Savings

Updated: 03/04/2012
First Published: 03/04/2012

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 It is now over 6 months old so the content may be out of date.

A large number of savings providers offer accounts designed specifically for senior investors, ranging from easy access to fixed rate bonds.

Here is a selection of some of the current best variable rate accounts available to mature savers.

West Brom Building Society – High Income Over 50 Notice 2

  • This account pays a monthly rate of 2.76% to savers with deposits between £1,000 and £75,000.
  • Advance notice of 90 days is required to access funds, although early access is allowed subject to 90 days' loss of interest.
  • The account can be operated by savers aged 50 and over in branch, by post or telephone.

SAGA - Saga Internet Saver Issue 3

  • SAGA's online account pays a rate of 2.75% on its anniversary including a bonus of 2.25% for twelve months.
  • A monthly rate is available at 2.72% with the same introductory bonus.
  • Savers can invest between £1 and £1 million.
  • Funds can be accessed without advance notice or penalty.
  • The account is available to savers aged 50 and over and can be operated, as the name suggests, online only.

Market Harborough Building Society - Onthedot Sixty+ Surfer

  • This account pays an annual rate of 2.35% to savers with deposit between £1 and £150,000.
  • A monthly interest option is also available paying 2.20%.
  • No notice is required to access money, although all withdrawals must be made by BACS to a nominated account or transferred to another Market Harborough account.
  • The account is available to savers aged 60 and over and can be operated online only.

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 Any products featured may be withdrawn by their provider or changed at any time.