West Bromwich launch Premier Bonus Tracker savings account

Commenting on the launch of West Bromwich Building Society’s Premier Bonus Tracker savings account, Kevin Mountford, head of savings at moneysupermarket.com,said: “The rate war is alive and kicking in the savings market! This new contender from West Bromwich, a tracker at 6.54 per cent AER, joins legions with both Alliance & Leicester and Coventry Building Society’s new online savers – the Midlands is reputably the capital of UK manufacturing and now it is well and truly on the map for creating the leading set of easy access savings rates.

“Often at this time of year the likes of smaller players and building societies have a big push to hit their retail inflow numbers and subsequently the consumers benefit, but generally these products don’t stick around for long.

“Watch out, though these products are all variable rate and with a base rate cut tipped to be on the horizon, this rate may have an even shorter shelf life so as always, you need to keep a close watch to ensure your rate remains competitive.

“At least with the West Bromwich and Coventry accounts, there is a degree of comfort offered via a price guarantee and whilst most new products now seem to include some type of withdrawal penalties, the West Bromwich account does offer six free dips into your savings pot.”