Barnsley Building Society new Online Saver rate

Savers looking for a great return on their cash without locking it away in a fixed-term account can earn 3.00% gross (2.50% plus 0.5% bonus) from Friday 2nd October with the Online Saver account from Barnsley Building Society.

The instant access account 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: "Internet savings accounts with high interest rates generally have large initial bonuses and low underlying rates. However, the Barnsley Building Society Online Saver base interest rate is very competitive and with the bonus on top we think this product will be very popular."

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