A new savings account has been introduced by Saga Insurance that tracks five of the main savings accounts available online to ensure it is always competitive.
Called the Online Top 5 Tracker this new savings account follows the movements of the five top paying savings accounts based on the internet. The new Saga Insurance savings account offers instant access to money and no limit on the number of times customers access the account it is sure to be popular.
The way the tracker account works is by taking the average interest rate offered by the top 5 and then paying a level of interest that is within a quarter of a percent of that average. This ensures Saga Insurance savings account customers are always receiving a rate of interest that is competitive, no matter how the top 5 may change.
Tesco Finance has just announced an improved rate for its internet saver account, paying 6.25 percent AER for 12 months.
The finance arm of Tesco has brought in a 12 month additional interest bonus of 1.5 percent, enabling them to bring this outstanding rate to the market. As a spokesman for the company said, this offer could not be timed any better, since consumers are now looking for the best savings rates possible as they look to make the most of their money.
Customers can invest up to GBP100,000 in the Tesco Finance Savings Account, enjoying the bonus interest rate for the first 12 months, after which it will revert to its regular 4.75 percent AER.
Abbey National is about to introduce some new investment bonds, including ones specifically for children, the over 50s and also a fixed rate option.
The fixed rate bond pays interest at 6 percent per annum gross over a 12 month period while the over 50 year old only deal offers 6.1 percent for the 3 year term. The child bond also pays 6.1 percent, but over a four year period. An Abbey National spokesman said that these offers were excellent and highlighted the excellent value for money savers can currently get with their investments.
What is also important, said the representative of the Abbey National, is the security and peace of mind provided by an organisation the size of the Abbey, part of the giant Santander Group.
