Building society launches new savings account with ‘extremely competitive’ interest rate
The new savings account has been rated 'excellent' by Moneyfacts
PEXELS
Furness Building Society has launched a triple access savings account offering an “extremely competitive” interest rate of five per cent gross/AER.
New and existing customers can open the Triple Access Saver from just £1 and make deposits at any time.
The account allows savers easy access to their savings, with up to three withdrawals allowed during a 12-month period.
James Hyde, spokesperson for Moneyfacts, said: “Paying five per cent, it pays the market leading rate when compared to other easy access accounts currently available in the market.
The account allows savers easy access to their savings, with up to three withdrawals allowed during a 12-month period
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“This product earns an Excellent rating.”
The account limit is £250,000 for individuals and £500,000 for joint accounts.
Lawrence Chan, head of savings strategy at Furness Building Society, said: “Our Triple Access Saver account provides the perfect solution for those seeking both flexibility and higher savings rates.
“It offers the same benefits as fixed savings accounts but with the added advantage of allowing up to three withdrawals per year.
“In these times of economic uncertainty and high inflation, being able to access your funds when needed can provide peace of mind.
“Rest assured, with our account, your money is always safe and accessible when you need it most.”
The account can be opened at a Furness Building Society branch or via telephone on 0800 781 4311.
Shawbrook BankEasy Access Issue 36 is currently offering 4.83 per cent AER, while Beehive Money's MoneyBonus Saver August 2024 pays 4.80 per cent, including a bonus, according to Moneyfacts.
LATEST DEVELOPMENTS:
Savers may be able to boost their savings by switching their current account.
NatWest, first direct and Halifax are all currently offering free cash to customers who switch current account via the Current Account Switch Service, correct at the time of writing.
NatWest is offering £200 free cash to those who meet the required criteria.
Halifax is paying £150 plus £75 cashback to switchers, while first direct is offering £175.