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AA launches new telephone savings account

28 October 2005
The AA has launched a new telephone savings account which helps customers make the most of their investments by offering a market-beating rate.

The AA Telephone Bonus Savings Accounts is geared towards those who have a substantial amount to invest - the account offers customers a gross interest rate of 5.25 per cent for the first six months.

"The account includes a 0.65 per cent bonus for the first six months and, although it can be opened with a deposit as little as £1, it is primarily designed for high deposit savers looking for a short-term, high-interest return," said Lloyd East from AA financial services.

Customers can make unlimited deposits and can make up to six withdrawals in the first 12 months.

If more than six withdrawals are made, the interest rate drops to 4.26 per cent.

Interest is calculated daily and paid annually, and the maximum deposit if £5 million.

To read more about Savings Accounts, click here.

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