Bradford & Bingley new eSavings account
Friday, 26 Oct 2007 17:35
Bradford & Bingley is bringing out a new internet-only savings account offering 6.20 per cent pa gross/AER (4.96 per cent net).
The eSavings5 account has no restrictions and no penalties and is open to investors with between £1,000 and £2 million.
Paul Whitlock, head of savings at Bradford & Bingley, said: "In a competitive market, customers need to ensure they choose a product which offers them transparency and flexibility as well as a strong rate.
"Our new eSavings5 offers customers all of this and is perfect for savers wanting 'no notice' easy access to their savings. It is ideal for 'cash rich, time poor' customers who want to manage their money at a time that is convenient for them."
Interest on the accounts is paid annually on July 31st or monthly.
The interest rate will be at least the Bank of England base rate until January 2010.