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Post Office launches two online savings products
Monday 23 August 2010By Dominic Welling dominic.welling@consumerchoices.co.uk
The Post Office (www.postoffice.co.uk) has launched a new online easy access savings product - The Online Saver account.
The new Online Saver account has an interest rate of 2.75% APR and is managed completely online, making it ideal for anyone who wants easy access to their savings.
You can open an account online, complete the application, have your personal details verified electronically, and fund your account by debit card or direct debit, all within 10 minutes.
You can also access your account and make payments or withdrawals online at anytime.
The Post Office (www.postoffice.co.uk) has also launched the Online Bond which has an online fixed rate of 2.80% APR and is fixed for 12 months.
| Although in general savings rates are not hugely appealing at the moment, things are beginning to move in the right direction |
You will need at least £500 to open the bond, and although no extra deposits can be made once the account has been opened, you can open multiple Online Bonds at any one time.
Like the Online Saver account, you can apply and manage your bond online, however you must post a cheque in order to open one the bond, before November 2010.
Chris Eagle, director of marketing at Creditchoices.co.uk, said: “The new online saving rate from the Post Office is among the most competitive on the market.
“Although in general savings rates are not hugely appealing at the moment, things are beginning to move in the right direction, and for the right people there are some good deals out there worth considering.
“The best thing for consumers to do is to compare all the different savings rates and make a decision which suits their individual needs.”