Egg ups rate on internet savings plan

Friday, 07 August 2009 12:00

Egg has improved the interest rate on its internet saving account to 3.25 per cent for both existing and new customers.

The new rate, which comes into effect today, is an increase from the 2.8 per cent which previously applied.

However, it includes a 12-month bonus rate of two per cent. This means, after a year, savers will receive Egg's standard variable rate which is currently 1.25 per cent.

A spokesperson for the bank said: "Customers also have the flexibility to pay in or withdraw however much they like, whenever they like, without penalty."

The rate is available for customers with balances of up to £1 million.

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