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Teachers BS heads towards top of savings class

Teachers BS heads towards top of savings class

Category: Savings

Updated: 17/12/2012
First Published: 19/01/2012

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 It is now over 6 months old so the content may be out of date.

Teachers BS has launched a new issue of its Reward Saver with an improved rate.

Now paying 2.80%, the account compares favourably with others in its field, albeit that the rate includes a bonus of 1.40% for 12 months.

Indeed, careful budgeting will be necessary to benefit from this high rate as only one free withdrawal is permitted in the first year - the rate will drop by 1.40% from the date of any second withdrawal within the bonus period.

It must also be remembered that a full review of the account's competitiveness will be necessary after 12 months once the bonus expires.

The minimum investment required is £3K, while additional investments are welcomed while the issue remains open.

Sure to appeal to savers who prefer telephone banking, this account earns four out of five Moneyfacts stars.

Find the best savings accounts for you - compare savings accounts with bonuses

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 Any products featured may be withdrawn by their provider or changed at any time.