The Co-operative Bank offers new Select Access Saver account

The Co-operative Bank has some welcome news for savers this week with the launch of a new Select Access Saver account at a rate of 2.25% gross.

The Select Access Saver account is available to all UK residents (16 or over), with a minimum opening deposit of £500.

The new savings account benefits from an attractive interest rate, plus the freedom to access the money when needed, as long as the withdrawals are limited to no more than four times a year, the interest rate won't be affected.  

James Hillon, Head of Savings at The Co-operative Bank, said: "We want to encourage people to save regularly, we know putting a big chunk or all of your savings away for a long period of time can be daunting. The new Select Access Saver account which is open to everyone, provides good returns with the peace of mind that if you did need to withdraw some of your money for an emergency or treat you could do so without being penalised."

"This savings account is bridging the gap between an instant access account and a fixed term deposit, and to top it all, the Select Access Saver account has no introductory bonuses or penalties, which makes it a really simple product to understand and manage".

The new product will be available from the 29th September and can be opened by telephone or in all 342 Britannia and The Co-operative Bank branches.

For more information or to apply for a Select Access Savings Account, visit co-operativebank.co.uk/savings.