A new savings account from the Post Office has launched with a rate of 3.01 per cent gross/AER on offer to its new customers.
The Online Saver Issue 4 account can be opened with just £1 and allows individuals to access their money every day of the year. Indeed, it is possible to make unlimited withdrawals with no penalties from this savings account.
A fixed bonus of 1.36 per cent gross/AER is also on offer from 12 months from the opening date of the account, while monthly interest can be provided at a 2.97 per cent gross rate.
Richard Norman, director of savings at the Post Office, commented on the new account, “Savers are continuing to suffer as the Bank of England base rate remains at a historic low. We aim to offer our customers consistently competitive rates of return and a safe home for their money and these accounts do just that.”
The group has also launched an online bond, providing people with rates of up to 4.21 per cent gross/AER if they keep their money in for three years. However this drops to 3.96 per cent for two years and 3.41 per cent if you choose to take your money out after one year.
