Principality Building Society is today releasing the fifth edition of its e-SAVER account, designed to reward online savers with 3.01 per cent gross p.a. /AER (variable).
The e-SAVER 5 includes a bonus of 1.36 per cent for the first 12 months, after which point the account will revert to the Principality e-SAVER 1, an account that was awarded by Moneyfacts in 2009 for being the most consistent on the market for 18 months.
The online account can be opened with £1 upwards and there are no limits on the number and size of deposits savers can make, up to a maximum balance of £1 million.
James Ablett at Principality Building Society said the e-SAVER 5 offers a good balance between excellent returns and access to funds.
He said: “Our e-SAVER accounts are designed to reward savers while still offering long term value, ensuring a good, consistent rate of return beyond the first 12 months.”
Interest is calculated daily and paid annually on January 1 into the account.