Bradford & Bingley launches competitive eSavings account

Bradford & Bingley has launched eSavings5 today, a competitive internet-only savings account, with no restrictions, designed to appeal to both large and small investors.

eSavings5 pays a competitive rate of 6.20% p.a. gross/AER* (4.96% net p.a.) and offers savers easy access to their money without penalty.

The eSavings5 account is available to savers with a minimum deposit of £1,000 with a maximum balance extending to £2,000,000. Customers can open and operate the account by clicking onto bradford-bingley.co.uk. No notice is required for withdrawals, which can be made on a penalty free basis via BACS transfer to the customer's nominated bank account.

Paul Whitlock, head of savings at Bradford & Bingley, said: "In a competitive market, customers need to ensure they choose a product which offers them transparency and flexibility as well as a strong rate. Our new eSavings5 offers customers all of this and is perfect for savers wanting 'no notice' easy access to their savings. It is ideal for ‘cash rich, time poor’ customers who want to manage their money at a time that is convenient for them.”