Saga personal finance offers more to savers

Saga Personal Finance announced that it is now giving customers an even wider choice of high-interest savings products with the new issue of three attractive saving products. It is also increasing the interest rate on its online savings account to 6.44% AER.

The new 1 year fixed rate savings account guarantees to offer a fixed return on savings over a one-year period. The rate for the new account differs depending on whether the account is managed online or over the telephone.

The Saga One Year Fixed Rate Savings Account is ideal for those who do not require access to their funds for a year and want to be sure of the exact rate of interest their investment will earn.

The new Saga One Year GEB offers people the potential to earn 8.50% AER on their investments for 1 year. The investment is linked to the performance of the FTSE 100 Index and it pays out the interest as long as the average# of the FTSE 100 Index taken at the start and end of the one year term hasn't fallen. Even if it does fall, the initial investment is not at risk from any falls in the FTSE 100 Index.

Saga also offers the Online Top 5 Tracker Account. With this account the interest is guaranteed to be no more than 0.25% gross below the previous monthly average of the five top variable rate internet accounts (as quoted by Moneyfacts). It has currently increased this to pay 6.26% gross/AER annually and 6.26% gross / 6.44% AER monthly.

For people who want to take advantage of their annual tax free allowance of £3,600 and do not want their money tied up then they have also launched the Saga Postal Tracker ISA with a rate of 5.75% AER* annually or 5.80% AER monthly for the first year and then is guaranteed to be 0.25% below the Bank of England Base Rate for the life of the account. There is also a no notice period if you wish to withdraw your money.