Saga launches variable rate savings account paying 1.55%

Saga Savings has announced the issue of the new Saga Internet Saver Account (Issue 16), rewarding savers who deposit a minimum balance of £1,000 up to £1m with an attractive 1.55% gross/AER variable rate interest paid annually. The new, limited issue, account is available from 10th November and customers will be able to access funds online.

Jeff Bromage, chief operating officer, Saga Personal Finance, commented: “As more of our customers than ever are using the internet to find the best home for their hard-earned savings, we are delighted to launch this new online account, with its attractive interest rate to complement our suite of savings accounts. 

“This new rate is ideal for savers who want to make sure their money is working hard for them, while at the same time providing convenient access to their savings should they need them. As with all of Saga’s accounts there is the option for people to receive their interest monthly or annually, which is key for many over 50s who rely on savings to boost their monthly income.”