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New Select Access Saver at The Co-operative Bank

The Co-operative Bank has launched a new Select Access Saver account at 2.25% gross.

The Select Access Saver account is available to all UK residents aged 16 or over, with a minimum opening deposit of £500. Funds can be accessed four times a year without affecting the interest rate.

James Hillon, head of savings at The Co-operative Bank, said: “We want to encourage people to save regularly; we know putting a big chunk or all of your savings away for a long period of time can be daunting.

“The new Select Access Saver account, which is open to everyone, provides good returns with the peace of mind that if you did need to withdraw some of your money for an emergency or treat you could do so without being penalised.

“This savings account is bridging the gap between an instant access account and a fixed-term deposit, and to top it all, the Select Access Saver account has no introductory bonuses or penalties, which makes it a really simple product to understand and manage.”

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