AA Savings launches new web savings account

AA Savings has launched a new easy access web savings account offering up to 3.3 per cent gross pa/AER.

For investments of £1 upwards, the AA Internet Extra Issue 1 account offers 3.15 per cent gross pa/AER, which includes a 12-month bonus of 2.65 per cent.

Investments of £50,000 to £1 million are rewarded by a rate of 3.3 per cent, with a 12-month bonus of 2.8 per cent.

Interest is paid on the anniversary of the first deposit, either into the account or a linked bank account.

Mark Huggins, director of AA Savings, said the account aims to offer a year of saving with good returns but without sacrificing flexibility.

He added: "Customers can either make regular payments or simply pay in as much as they like when they like and their money is available as and when they need it.

"We're looking to encourage people to save in a straightforward account with a good interest rate over the coming year."

Last week, Chelsea Building Society reported that many consumers are failing to regularly check the best savings rates available on the market.

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2009-10-12 15:40:52 © Moneyextra.com