AA Savings adds new best-buy postal savings account

AA Savings has introduced a brand new postal savings account offering a fixed savings interest rate of 3.40 per cent gross per annum AER.

The one-year fixed-rate savings option can be opened with any sum between £1 million and £5 million and money cannot be withdrawn until maturity.

Interest is calculated daily and credited to the account on the anniversary date of the first deposit, or on the first day of each month if the customer has opted for a monthly interest option.

Mark Huggins, director of AA Savings, said: "The AA also offers a range of online accounts but I appreciate that some customers prefer to manage their savings by post.

"This is a secure, easy to manage account from one of Britain's most trusted brands and it offers a top interest-paying option."

The introduction of the new postal account follows the recent savings interest rate increase 2.80 per cent gross/AER on the AA's Internet Extra instant-access account, which placed the account among best-buys on the market.
 

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2011-02-28 15:50:56 © Moneyextra.com