BM savers now beat ING by 0.5%

Birmingham Midshires, the leading direct savings provider, will increase the rate on its Direct Saver account to a competitive 5.25% Gross/AER from 1 December.

Earlier this year, Birmingham Midshires shook up the savings market with the launch of the BM Direct Saver Account, guaranteed to consistently beat ING’s Direct Savings Account by a minimum 0.25%.* The increase to 5.25% for BM Direct Saver account holders comes despite ING remaining stagnant at 4.75%, meaning that BM savers are actually 0.5% better off than those saving with ING.

Jason Robinson, director of savings operations at Birmingham Midshires, said: “The BM Direct Saver account is fantastic news for savvy savers. With this account we are ensuring that our customers are consistently getting a fantastic rate, without having to shop around or change accounts. Birmingham Midshires is a consistent provider of best buy products and we are proud to have established ourselves as one of the UK’s leading direct savings providers.

“With this increase, Birmingham Midshires savers continue to benefit from some of the best rates available and we are pleased to be able to pass on the full base rate increase of 0.25% to our customers, despite other providers failing to do so.”

The BM Direct Saver account has a minimum investment of just £1 and maximum of £2 million. Savers can open up to 10 accounts and they can be managed either via the telephone or online. Savers are given full flexibility with unlimited deposits and withdrawals permitted.

*The price guarantee runs until 1 August 2008