The Post Office has unveiled two new savings products, its Premier Cash Isa and its Reward Saver.
Both products are available immediately and both guarantee to match any changes in the Bank of England base rate until January 1st 2013.
The Reward Saver offers an interest rate of 2.25 per cent gross/AER and allows investors two separate withdrawal options. Savers can either withdraw funds immediately with the loss of 30 days interest or they can give 30 days’ notice and not have any penalty. There is no limit on the number of withdrawals per year.
Its Premier Cash ISA also offers a rate of 2.25 per cent and allows savers to take advantage of their cash Isa allowance this year. Transfers-in are allowed which means all Isa balances can be consolidated together.
Henk Van Hulle, Head of Savings at Post Office, said: "The launch of the Reward Saver and Premier Cash ISA demonstrates the Post Office's on-going commitment to delivering products that are consistently competitive, but flexible enough to offer people a variety of ways to make the most out of their money.
“We know that many savers are feeling the squeeze, and are looking for ways to make their money work for them."
The Reward Saver and Premier Cash ISA can be opened in branch, by phone or by returning the application form which can be found online at www.postoffice.co.uk/savings
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