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Saga launch new tiered 3 year fixed rate savings account paying up to 2.50%

18th August 2015 Print

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.  The tiered account offers an attractive 2.15% Gross / AER for balances under £10,000 and 2.50% Gross/ AER on balances from £10,000 fixed with interest paid annually. The new, limited issue, account is now available and customers will be able to access funds by post subject to a charge.

Jeff Bromage, Chief Operating Officer, Saga Personal Finance, commented: “This week we have seen the strongest indication yet that interest rates are soon set to rise, which is great news for our customers who rely on their savings for some extra income in retirement. We know that people value being able to save their money with a well-known provider that they can trust, so we’re really pleased to launch this new account. And like all Saga savings accounts, people will have the option to receive their interest monthly or annually.”