Consumers looking to start saving money have been put on alert by news that Chelsea Building Society is introducing a postal savings account.
Launching on May 19th 2007, the financial services provider's new Rainy Day PostSaver features gross savings rates of six per cent, inclusive of a one per cent bonus rate during the first 12 months of the deal.
Savings customers may also be interested to learn that the savings account requires a minimum withdrawal of £500.
Jenny Hudd, savings marketing manager at the financial services provider, pointed out another feature that may appeal to some prospective savings account holders.
"During the initial 12 month bonus period, withdrawals up to £2,000 are permitted fee-free, so you can still be prepared should you have one of life's unexpected emergencies," she said.
As many banking customers may already be aware, last week saw the Bank of England's monetary policy committee raise the base rate by quarter of a percentage point.
The move means that interest rates now stand at 5.5 per cent - their highest level in more than six years.
Financial services provider launches postal savings account
Financial services provider launches postal savings account
Thu, 17 May 2007
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