Post Office instant access savings become 'market leading' at 2.90% Go compare with our comparison table

Post Office instant access savings become 'market leading' at 2.90%

21 October 2010 / by Rachael Stiles

The Post Office has increased the interest rates on two of its savings products, making them some of the most competitive on the market.

The Post Office Online Saver now has a rate of 2.90 per cent AER, putting it at the top of the instant access savings account,best buy tables.

The Post Office has also increased the rate on its Online Bond to 3.00 per cent AER.

The Post Office says that this increase in its savings rates reflects its "commitment to offering a wide range of competitive savings products for savers", in line with the other new products they have launched in recent months.

Commenting on the new rates, Richard Norman director of Post Office savings and investments, said: "The Post Office is dedicated to growing and expanding our savings range to give customers not only great value, but also choice and flexibility with their savings.

"The Online Saver and Online Bond have proved extremely popular and these rate increases will help even more people make their money work harder for them."

© Fair Investment Company Ltd
 

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ProviderAccountInterest Rate (AER)TermApply
1.10%Instant AccessMore Info >
MARKET LEADING: Earn 1.10% gross/AER Instant Access. No notice periods. Unlimited payments and withdrawals. Pay in from £100. RCI Bank are protected up to a total of €100,000 by the FGDR, the French deposit protection scheme. Manage account online.
Up to 0.50%Instant AccessMore Info >
Open with £1. Earn 0.50% AER (variable) on balances above £100,000, 0.25% AER (variable) on balances between £50,000 and £99,999, 0.05% AER (variable) on balances between £25,000 and £49,999, and 0.01% (variable) AER on balanced between £1 and £24,999.
0.90%Easy AccessMore Info >
Earn 0.90% gross/AER. £500 minimum deposit. Interest paid annually.
0.75%Easy AccessMore Info >
0.75% gross/AER on balances from £1,000 to £1 million. Guaranteed to be at least 0.50% above Base Rate** until 31st December 2017. Unlimited withdrawals without restriction or loss of interest.
0.50%Current Account
Instant Access
More Info >
Innovative new banking service powered by Clydesdale and Yorkshire Banks. Get your current account and instant access savings account working together. Earn 0.50% AER on ALL instant access savings balances, and 0.25% AER on current account balances up to £2,000. No monthly account fee
up to 0.05%Instant accessMore Info >
0.05% AER Gross (variable) for balances over £50,000 (0.01% AER Gross variable for balances under £50,000). Open with £1. Interest paid monthly. No penalties and no withdrawal charges. Manage your account online, in branch or by phone. Over 16s only
0.01%Instant accessMore Info >
0.01% AER Gross (variable). Open with £1. Interest paid monthly. No penalties and no withdrawal charges. Manage your account online, in branch or by phone. Over 16s only

Gross is the interest you will receive before tax is deducted.

AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.