Egg, best known for their Egg card, has just announced a new interest rate on their savings account of 6.05 percent gross.
Requiring a minimum deposit of just GBP1 and open to both existing and new customers the Egg card savings account is expected to be very popular. It also allows free access to the money held, with no penalties or notice periods needed. After the first 12 months at the introductory rate the account reverts back to the standard variable rate, currently 4.75 percent gross.
An Egg card spokesman, discussing the savings account, said that the introductory interest rate is one of the best available for easy access accounts and, with the rate guaranteed for 12 months offers an excellent vehicle for savers.
Interest rates on nearly all the Nationwide Building Society International Sterling savings accounts are being reduced by between 0.25 and 0.3 percent.
The international arm of the Nationwide Building Society is not cutting interest rates on their Euro or Dollar savings accounts though, these will retain their existing rates. In addition they are actually increasing the rate of interest paid on their Lifetime Guarantee Account, going up by 0.2 percent. This gives it a first year rate of 6.4 percent.
Currency based accounts can be subject to fluctuations as the exchange rates vary following economic changes, hence the cuts announced here by the Nationwide Building Society.
Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.
The bank will be working on accounts with more than GBP100 in them and will be using a specialist search company to locate the account holders and reacquaint them with their funds. The average amount per person will be in the region of GBP575 so it is a very worthwhile exercise and one that the recipients of the money are sure to appreciate said a Lloyds TSB spokesman.
These accounts appear to have been forgotten by their owners, hence the use of the search company. Lloyds TSB would not mind account holders getting in touch with them directly though, so if you think you have a dormant Lloyds TSB savings account get in touch with them and see if there is a windfall waiting for you.
