Bradford & Bingley launches ‘What If?’ account

Bradford & Bingley has announced the launch of the ‘What If? Saver Account’, designed to appeal to savers who want a ‘no notice’ home for their money that offers a highly attractive variable rate of 5.50% p.a.gross, which includes a bonus equivalent to 0.50% p.a gross.

The branch-based account is available to savers with a minimum deposit of £2,000 who are looking for the freedom to withdraw their money without having to give notice. Customers can make withdrawals of £250 or more from their account at any time without giving notice and can carry out up to four withdrawals in a year without losing any interest.

The ‘What If?’ account pays 5.50% p.a. gross for the account’s first 180 days, which includes a bonus equivalent to 0.50% p.a gross. The interest rate then reverts to a very competitive 5.00% p.a. gross.

For customers who want their interest to be credited on a monthly basis, an initial bonus rate of 5.37% p.a. gross is available, which reverts to 4.89% p.a. gross after 180 days.

Customers can open and operate their ‘What If?’ account by calling into their local Bradford & Bingley branch.

Ian Cornelius, director of savings at Bradford & Bingley, said: “Savers who choose an account that allows them easy access to their money are too often punished for this with an uncompetitive interest rate. The ‘What If?’ account has been designed with the needs of such savers in mind. It not only offers customers a highly attractive interest rate but also the ability to withdraw their money without notice if they want to, giving them the freedom to use their savings how and when they like.”