Money News
Wales' largest building society, Principality, has increased the rate paid on its flagship e-SAVER account. With effect from 1 December 2007, all new and existing e-SAVER customers will earn 6.30% gross AER on their savings. Minimum balance is £1 and maximum balance is £1,000,000. Interest is calculated daily and paid annually, on 1 January each year.
e-SAVER can be set-up and managed entirely online. It offers a 'savings pot' facility that allows savers to specify the things they would like to save for and regularly monitor how well they are doing against their target. The information is presented in a simple graph which gives savers a clear indication of their progress, and the incentive to continue saving in order to reach their target.
Sarah Sharma, Product Strategy Manager at Principality Building Society said, "With the average Christmas spend set to rise from £662 to £702 per person this year, our highly competitive and accessible e-SAVER account should encourage savers to think ahead to 2008. By saving an average of £60 per month, the cost of the following Christmas could be more or less covered. Peace of mind during the festive season is certainly worth planning for!"
03 December 2007 © Moneyextra.com
Moneyextra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.