Citi launches new Flexible Saver Account

Citi has announced the launch of its new Citibank Flexible Saver Account (Issue 5) paying 3.10% AER / 3.06% gross p.a. variable, including a fixed bonus rate of 2.06% gross p.a. for the first 12 months.

From 16th July 2009, the Citibank Flexible Saver Account (Issue 5) is available to new customers with deposits from £1 and up to £1,000,000.

Sharon Maguire, Head of Savings at Citi, says: "The new Citibank Flexible Saver Account will certainly provide a competitive rate for new customers, giving them the potential for real growth in their savings. Customers also have the flexibility to withdraw however much they like, whenever they like, without penalty."

Customers can find out more information and apply for a Citibank Flexible Saver Account (Issue 5) by visiting citibank.co.uk.

The AER stands for Annual Equivalent Rate and is a notional rate, which illustrates the contractual interest rate as if paid and compounded on an annual basis. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. Interest will be paid monthly. Existing customers who open a new account will receive the underlying variable rate of 1.00%gross pa/AER"