Birmingham Midshires has announced that it will be boosting the interest rate of its Direct Saver savings account by 0.5 per cent.
The savings provider has made the move, which will take effect on December 1st 2006, raising the annual equivalent rate to 5.25 per cent.
Additionally, Birmingham Midshires has stated that it will continue to offer an interest rate at 0.25 per cent higher than is available with ING Direct's Direct Savings Account.
However, the company claims that its savings customers are currently receiving an interest rate which is 0.5 per cent higher than those of its rival.
Jason Robinson, director of savings operations at Birmingham Midshires, said: "With this account we are ensuring that our customers are consistently getting a fantastic rate, without having to shop around or change accounts.
"With this increase, Birmingham Midshires savers continue to benefit from some of the best rates available."
ING Direct currently offers a savings account with an annual equivalent rate of 4.75 per cent, which is available for savers with a minimum balance of £1.
Birmingham Midshires raises savings bar
Birmingham Midshires raises savings bar
Fri, 01 Dec 2006
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