Post Office boosts instant saver rate to 5.5%

The Post Office is increasing the rate on its Instant Saver account from 5.25% to 5.5% following today’s rise in the Bank of England base rate.

The new rate will be available to new and existing Instant Saver customers from 7 February 2007.

Richard Norman, Head of Savings, said: “With interest rates increasing three times in the past six months, Post Office Instant Saver customers have benefited each time from our commitment to match Bank of England base rate changes until January 2008.”

Post Office Instant Saver also guarantees to remain within 1.0% of the Bank of England base rate for the life of the account and offers six free withdrawals a year with a flat fee of just £1 for future withdrawals.

Instant Saver is available at all of the UK’s 14,300 Post Office branches, by telephone and online. Withdrawals can be made both at branches and ATMs, offering unrivalled choice and convenience.

To find out more about Instant Saver, visit postoffice.co.uk.