Over 50s savings grow

Rachel Thrussell, Head of savings at moneyfacts.co.uk, comments: “This week sees the launch of two accounts designed for savers aged 50 or over.

Coventry BS - Sixty Plus Bond – paying 5.90% Fixed to 31.5.08 from £1K available to those aged over 60

Stroud & Swindon BS – Platinum 50 Saver paying 5.65% with 30 days’ notice from £5K, available to those aged over 50.

“It is great to see more options available for savers aged over 50, as providers try to cash in on this potentially affluent market offering competitively priced products, consumers opting for these specialist accounts should not assume they are getting the best deal available in the market as, although the rates may be competitive, better deals may be found in accounts open to all ages.”