Barnsley Building Society new Online Saver account

Savers looking for a great return on their cash without locking it away in a fixed-term account can earn 2.50% gross/AER with the new Online Saver account launched this week by Barnsley Building Society.

The rate of 2.50% gross/AER is set to make the product a market-leading ‘best buy' instant access account which is available to all level of savers, as it can be opened with as little as £1 and up to a maximum of £1m. For those who rely on their savings to boost their income a monthly interest option is also available.

Chris Edwards, Head of Savings and Mortgages at Barnsley Building Society, says: "Unlike many competitive internet savings accounts which attract savers by offering rates that include a short term introductory bonuses, the new Barnsley Online Saver rate has no such catches. We think the market-leading rate and low minimum balance will certainly make this product very popular indeed."

The new account is only available online, and has a completely paperless application process, where actual signatures and identification documents are not required in most cases. Savers are also able to deposit funds electronically using their debit card, which will earn interest days quicker than they would with a traditional cheque deposited by post.

For more details about the account visit the Barnsley Building Society website at barnsley-bs.co.uk