Principality increases rate on e-SAVER

Wales’ largest building society, Principality, is pleased to announce an increase to the rate paid on its flagship e-SAVER account.

With effect from 1st December 2007, all new and existing e-SAVER customers will earn a market leading 6.30% gross p.a./AER on their savings - one of the best online rates available in the market today.e-SAVER can be set-up and managed entirely online and with instant access, and an interest rate of 6.30% gross p.a./AER, is firmly established as a ‘best buy’ savings option. As well as offering one of the best online savings rates available, e-SAVER has the additional unique feature of a ‘savings pot’ facility. This allows savers to specify the things they would like to save for and regularly monitor how well they are doing against their target. The information is presented in a simple graph which gives savers a clear indication of their progress, and the incentive to continue saving in order to reach their target.

Sarah Sharma, Product Strategy Manager at Principality Building Society says: “The weeks in the run-up to Christmas are becoming increasingly fraught, not least on the high street. It is therefore not surprising that internet-shopping is on the increase, as is internet banking. Easy to open and manage, and offering increasingly competitive returns, our e-SAVER account lends itself perfectly to the festive period; and the best part of all is that the account can be opened from the comfort of your own home as you surf the web for family presents.

“With the average Christmas spend set to rise from £662 to £702 per person this year, our highly competitive and accessible e-SAVER account should encourage savers to think ahead to 2008. By saving an average of £60 per month, the cost of the following Christmas could be more or less covered. Peace of mind during the festive season is certainly worth planning for!”