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Winter Boost for Online Savers with Best Buy Rates from the West Brom
Building society the West Brom launches three new WeBSave products with market leading rates for new and existing customers.
The three internet-based accounts from the building society – WeBSave Easy Access 5, WeBSave Plus 3 and WeBSave ISA 7 – offer market leading rates, which will appeal to savers who prefer the convenience and flexibility that comes with being able to manage their money online.
WeBSave Easy Access 5
This product pays 2.52% AER (2.50% gross p.a. variable), including an unconditional bonus of 1.00% up to 31 December 2013.
WeBSave Easy Access 5 is available for new and existing West Brom customers. The minimum opening balance is £10,000 and the maximum investment is £100,000. Only one WeBSave Easy Access 5 account is permitted per customer (single or joint).
Four withdrawals can be made in each account year with no loss of interest. Any further withdrawals during the year will be subject to 90 days loss of interest based on the amount withdrawn.
WeBSave Plus 3
This account pays 2.30% AER/gross p.a. variable. The minimum opening balance is £1,000; the maximum investment is £250,000 for single and joint customers.
One withdrawal a year is permitted with no loss of interest. Subsequent withdrawals will incur a charge equal to 90 days loss of interest on the amount withdrawn.
WeBSave ISA 7
Customers earn 2.52% AER (2.50% gross p.a. tax free variable), including a 1.00% unconditional bonus up to 31 December 2013.
The minimum opening investment is £1,000 and the maximum opening investment is the annual cash ISA entitlement of £5,640 in the tax year 2012/13.
Additional investments can be made at any time subject to ISA rules, which permit up to £5,640 to be deposited during the 2012/13 tax year. Transfers in are also permitted from other providers. However, the maximum account balance still must not exceed £75,000.
Unlimited withdrawals are allowed.
Stephen Leonard, the West Brom’s Divisional Director for Marketing and E-Commerce, said: “The West Brom has always had a strong presence among providers of online savings and we have every confidence that this latest range of attractive best buy products will maintain this.
“The great thing about this range is that it appeals to online customers, who may have differing needs, whether for easy access or, in the case of WeBSave ISA 7, an account which enables them to make the most of their annual tax-free allowance. We believe it can brighten up the outlook for savers at a time when Bank Rate remains at an all-time low.”