Saga Telephonesaver
The Saga Telephone Saver is offering a 2.25% AER interest rate with easy access to your savings. Not a savings bond, but a decent rate of 2.25 AER variable which includes a 0.80% first year bonus.
The saga.co.uk/telephonesaver account has a yearly interest rate of 2.25% AER variable, or a monthly rate of 2.55% AER if you need to live of the income. The rate is guaranteed to be no less that 2.00%below the current Bank of England Bank Rate, with an absolute minimum of 0.25% AER and a maximum of 8.00% AER.
As the name of the savings account suggests, you manage your account on the telephone and you can invest between £1 and £1 million per customer. You are allowed to make unlimited withdrawals and deposits with notice periods or penalty fees, making it a decent way to invest your money without risk. The saga.co.uk/telephonesaver account money is deposited with Birmingham Midshireswho are regulated by the FSA with deposit protection under BM’s FSA number.
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Please note that this review does not constitute financial advice or endorsement of the product under review. The rates or products may have been changed or withdrawn since the review was written.
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