5 August 2010
Saffron boosts rate on e-saver account
Saffron Building Society, the regional building society serving East Anglia, today announces that it will be boosting the rate on its e-saver account.
The rate boost takes the savings rate to 2.65% gross AER/p.a* and is available to both new and existing e-saver savings customers.
The e-saver account can be opened with a minimum of £100 and has a maximum investment of £2,000,000. Savers can make regular monthly payments or one-off payments into an e-saver account electronically from their bank.
Sales & Marketing Director John Eastgate said: "Saffron is constantly working to meet the needs of savers. There is clearly a demand for immediate access accounts which do not require customers to switch providers once the attractive introductory bonus period has expired. We believe in consistent rates which are fair to savers, offered though accounts that are straightforward to open, monitor and access when needed. The new e-saver rate will benefit many of our existing members who already save with us in this way, and hopefully will encourage new customers to consider what Saffron has to offer."
* The gross rate is the rate before deducting tax at the rate applicable to savings income. The annual equivalent rate (AER) is a notional rate which illustrates the contractual rate (excluding any bonus interest payable) as if paid and compounded on an annual basis.
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