Leeds Building Society (LBS) has launched a new instant access passbook savings account paying up to 2.5% interest.
Customers opening an Albion Saver passbook account are given a passbook that allows them to deposit and withdraw money at any LBS branch.
Opening the account requires a minimum deposit of £2,500.
The standard gross interest rate on the account [...]
Consumers have seen very little benefit from the Bank of England holding its base rate at a record low of 0.5% for six months, a consumer advice site pointed out this week.
Interest rates on savings accounts have dropped, while rates on mortgages, credit cards, and personal loans have continued to rise, said Moneyfacts.co.uk.
Research by the [...]
Interest rates on savings accounts are “highly inflated” at the moment because banks and building societies are desperate for deposits, a price comparison site said this week.
Financial providers are offering average bonus rates of 1.93% on savings accounts, compared to 0.71% two years ago, moneysupermarket.com said.
Savers should invest now to avoid disappointment, the price comparison [...]
The Coventry Building Society this week relaunched is 50 Plus eSave account.
Available exclusively to savers over 50, the account pays interest at 3.25%, fixed for 12 months.
Savers can open the account with a minimum of £1, and can make unlimited, penalty-free withdrawals and deposits.
The maximum balance is £250,000, and account holders can choose to have [...]
Internet bank Egg this week unveiled an instant access savings account and a fixed-rate bond.
The Egg Bonus Savings Account pays 2.8% gross pa/AER, including a fixed-rate bonus of 1.55% for the first 12 months.
The account can be opened with a minimum investment of £1, and offers the flexibility of unlimited penalty-free deposits and withdrawals.
From next [...]
A new online easy access savings account launched this week by Leeds Building Society pays interest at 3.05%.
For a minimum investment of £100, savers are offered unlimited penalty-free access to their cash, with no advance notice required.
Kim Rebecchi, Leeds’ director of sales and marketing, said: “A return of 3.05%, combined with the flexibility of online [...]