Post Office enhances savings propositions

Post Office has announced enhancements to its existing savings products, with effect from 6th December 2011, in a move to help its customers get the most out of their accounts.

The popular Instant Saver will now have unlimited free withdrawals, previously it offered six free withdrawals per annum and then £1 for every further withdrawal. These free withdrawals are available to all new and existing customers.

In addition the Post Office is extending its ‘Savings Promise' until 1st January 2013 on the following products: Instant Saver, Reward Saver, Cash ISA and Easy Saver. The Post Office is unique to the high street in promising to the match the Bank of England Base Rate percentage changes on all its branch based savings accounts.

Richard Norman, Post Office Director of Savings and Investments said: "We want to help make saving easier, more flexible and more rewarding. We understand that sometimes you need to dip into your savings for one reason or another and that's why we have introduced unlimited free withdrawal, to help you access your money in a way that suits you. We also understand that if the Bank Of England Base Rate increases customers will want to see the rates and their savings increase also. With our Savings Promise they know this will happen."