Leeds Building Society has improved the variable interest rates on two of its online savings products.
The Society will now offer an online savings account at 5.10 per cent and an online ISA at 4.80 per cent.
The building society said these accounts may be of interest to people looking to reinvest savings after moving off a fixed-term product.
Matt Bartle, Director of Products at Leeds Building Society, said: “We are pleased to launch new issues of two of our popular easy access online savings products, providing members with access to their money when it’s needed, at extremely competitive rates.
Savers have been seeing improved interest rates recently after the Bank of England raised the base rate 14 times in a row
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“These new easy access online savings products will be attractive to those who want to reinvest their savings after recently moving off a fixed-term product, and also those who are looking to get the best return from the money but value the easy access.”
The limited Issue Online Access ISA (Issue 65) has a two-year term with a minimum balance of £1,000.
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Interest is paid annually and on maturity, and the variable rate is 4.80 per cent p.a./AER.
Savers can make unlimited withdrawals without notice or loss of interest.
The Limited Issue Online Access Account (Issue 50) is also an easy access account, meaning savers can make an unlimited number of withdrawals if they wish to.
The minimum balance on this account is £1,000 while the upper limit is £1million – or £2million for joint accounts.
The variable rate is 5.10 per cent p.a./AER and interest is paid on maturity.
Elsewhere today, Nationwide has announced a new regular savings account which pays an interest rate of eight per cent AER/gross p.a. for 12 months.
Members can deposit up to £200 a month into the Flex Regular Saver account.
The account allows up to three withdrawals within the 12 month period after the account opening.
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Nationwide Building Society announced a new regular savings account which pays eight per cent today
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It’s only available to Nationwide’s current account customers, so savers will need to have a FlexPlus, FlexDirect, FlexAccount, FlexStudent, FlexGraduate, FlexBasic or FlexOne current account.
Customers can only open one Flex Regular Saver, and this can either be as an individual account or a joint account.
Tom Riley, director of retail products at Nationwide Building Society, said: “We want to give people every reason to join and stay with Nationwide. That’s why we are offering new and existing current account customers a top of market £200 if they switch their main banking relationship to the Society.
“We’re also rewarding our current account customers with a market-leading rate of eight per cent AER on our Flex Regular Saver. We believe this is a further demonstration of the difference of being part of a modern, member-owned organisation.”
