Saga launch new three year fixed rate savings account paying 2.15%

Saga Savings has announced the issue of the new Saga 3 Year Fixed Rate Postal Savings Account, rewarding savers who deposit a minimum balance of £1 up to £10m with an attractive 2.15% GROSS / AER fixed with interest paid annually. The new, limited issue, account is available from 20th March and customers will be able to access funds by post subject to a charge.

Jeff Bromage, chief operating officer, Saga Personal Finance, commented: “The announcement by the Chancellor last week to introduce a personal savings allowance, has been welcomed by the huge number of over 50s who rely on their savings to boost their monthly income. This new account is ideal for savers who want peace of mind with a set rate of interest and like all Saga savings accounts there is the option for people to receive their interest monthly or annually.”