Principality launches second issue of e-SAVER account

Principality Building Society continues its reputation as the UK savings provider with the most consistent interest rates with the launch of its new online e-Saver Issue 2 account, which offers a market-leading rate of 2.85% AER (variable).

The e-Saver Issue 2 includes a 1.20% unconditional introductory bonus rate for the first 12 months. Launching on Thursday 11 June, the e-Saver is available for any size of balance from £1 up to £1 million and there are no limits on the number and size of deposits or withdrawals. Customers can manage their account entirely online, giving them control over their savings.

Julie Ann Haines, Head of Strategy and E-Channels at Principality Building Society, says the e-Saver offers savers confidence and simplicity. She said: "We are delighted to offer our customers yet another competitive offer with the second issue of our popular e-SAVER. Our first edition attracted over 15,000 new customers to the Society and this new account is set to build on this success.

"With freedom on withdrawals and deposits, e-SAVER Issue 2 boasts a rate more than four times that of the average instant access account, offering savers a welcome boost on their returns. Savers can be confident that their money is being well looked after and is available for them to access whenever they want it."

The e-Saver account can be opened with as little as £1 and includes an introductory bonus of 1.20% for the first 12 months. Interest is calculated daily to 31st December and is paid annually, on 1st January, into the e-Saver account.

Principality was named as the provider with the most consistent savings products rates by financial website moneyfacts.co.uk, and this new product continues with that approach, by not only offering a great basic rate of return at 1.65% but adding a 1.20% bonus rate for the first 12 months as well.

The e-Saver account is available to UK residents over the age of 16 and can be opened by visiting principality.co.uk