The Post Office Expands Savings Range with New Online Saver Account

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The Online Saver account is available now paying 2.75% AER variable including bonus.

The Post Office has expanded its savings range with the launch of a new Online Saver account. The new savings product offers one of the best easy access rates in the market at 2.75% gross*/AER**variable, including a guaranteed 12 month bonus, available with immediate effect.***

The savings account is perfect for customers who want to apply for and manage their savings exclusively online, whilst benefiting form a great rate of interest and no withdrawal restrictions or penalties. Customers can apply for an Online Saver account via the Post Office's website using a quick and easy application form that takes less then ten minutes to complete. The initial deposit is made during the application and once customers have completed the process, the savings account number is provided on the spot.

Richard Norman, Post Office Director of Savings and Investments, said: "By launching the Online Saver we are reinforcing our commitment to offering competitive rates and account flexibility to a wider range of customers.

"The Online Saver complements our existing range of branch savings accounts and helps to provide greater choice for the growing number of 'online savvy' savers."

The launch of the Online Saver closely follows the launch of the Post Office Reward Saver account in July, reflecting the Post Office's commitment to expand its savings range to meet the different needs to customers.

*Gross rates are fixed and do not take into account deductions of income tax
** AER stands for Annual Equivalent Rate and illustrates what interest a saver would receive if the interest was paid and compounded each year
***rate applies to annual interest option and includes 1.25% gross/AER fixed interest bonus for the first 12 months.

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