Post Office launches new Online Bond and Online Saver deals

Monday, 04 July 2011 01:06

Its new Online Bond offers 4.21 per cent gross/annual equivalent rate (AER) for its three-year deal, with 3.96 per cent for two years and 3.41 per cent for one year.

For each of these options, customers must start with a minimum of £500, with no additional deposits or withdrawals within the agreed term.

The Online Saver account, meanwhile, offers 3.01 per cent gross/AER and 24/7 access with a starting deposit of just £1.

Customers can make unlimited withdrawals with no penalties and the rate includes a fixed bonus of 1.36 per cent gross/AER for 12 months from the opening of the account.

"Savers are continuing to suffer as the Bank of England Base Rate remains at a historic low," said Post Office director of savings Richard Norman. "We aim to offer our customers consistently competitive rates of return and a safe home for their money and these accounts do just that. Both accounts offer easy online management combined with some of the best rates in the market."

Use the Myfinances.co.uk comparison tables to find the best deal on a savings account

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