Easy access accounts back with a bang

Savings interest rates on fixed-rate bonds have dropped in the last few months but the rates on offer for easy access accounts has been increasing, offering customers improved returns on their money.

Nationwide recently announced that it would be improving its best savings rates on its MySave Online Plus easy access account to a market leading 2.99 per cent.

This new rate is 0.19 per cent higher than the top easy access account rate that was available in July, however the top fixed-rate bond rate has decreased by 0.15 per cent in the same period.

Fixed-rate bonds have proved ideal for savers in an economic climate where it has proved difficult to get the best savings rates but these rates are now softening as financial institutions turn their attention to easy access accounts.

A number of easy access accounts are now offering rates similar to fixed-rate bonds and have the added benefit of allowing customers access to their money whenever they wish.
 

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2010-11-02 12:52:23 © Moneyextra.com