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Saga savings accounts for over 50s offer new fixed rate returns

20 May 2009 / by Rachael Stiles
Saga is offering a range of new fixed rate savings accounts for the over 50s, with competitive rates and guaranteed returns on their savings.

The new accounts – which offer fixed rates of interest for two or four years – include more flexibility than other fixed rate savings accounts, according to Saga Personal Finance.

Savers can make withdrawals from their accounts during the fixed term, providing customers with the peace of mind that they can access their cash if they run into financial difficulties before the fixed term comes to an end.

Withdrawals do not come without a price, however, as customers who make withdrawals during the fixed term will lose 90 days' interest on their savings, a common drawback of taking funds from a fixed rate savings account before the end of the term.

The Saga four year fixed rate savings account offers a rate of 4.35 per cent, offering a guaranteed return after this period.

The two year fixed rate savings account, meanwhile, offers savers a rate of 4.15 per cent.

Saga savings accounts customers can invest from £1 to £10million and further deposits can only be made whilst the issue remains open, and savers can choose to receive the interest monthly or annually.

Learn more about Saga savings accounts or compare savings accounts »

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