Post Office ups instant saver rate to 6%
Tuesday, 10 Jul 2007 09:56
The Post Office has increased the rate on its instant saver account to 6%
The new rate is available to new and existing instant saver customers from August 1st 2007. Withdrawals can be made at branches and ATMs.
"The Post Office continues to be one of the few savings providers to consistently pass on base rate rises in full to customers, and we guarantee to do so until 2010," said Post Office head of savings Richard Norman.
Post Office instant saver is guaranteed pay interest within 1.0% of the Bank of England base rate for the life of the account as well as offering six free withdrawals a year with a flat fee of just £1 for future withdrawals.
"People need to check they will benefit fully from any rise in interest rates, and switch their savings account if they don't," Mr Norman said.