Post Office boosts savings interest rates

The Post Office has announced an increase to the savings interest rates on its Reward Saver and Growth Bond products.

Savers looking for the best savings rates will be interested to hear that the interest rate on the Reward Saver account has increased to 2.75 per cent AER variable, which makes it a best buy account.

The Reward Saver is a very flexible account, offering customers two withdrawal options, depending how quickly they want access to their money.

Post Office director of savings and investments, Richard Norman, said that the increases in the interest rates follow a decision to increase the online savings rate last month and further demonstrate the Post Office's commitment to providing customers with the best deals.

The new Growth Bond offers very competitive rates over one, two and three-year terms will interest rates ranging from 2.9 per cent to four per cent.

Last month the Post Office increased its interest rates on its Online Saver and Online Bond to 2.90 per cent and three per cent respectively.
 

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2010-11-08 12:00:05 © Moneyextra.com