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Post Office launches new online savings rate

The Post Office has launched a new issue of its Online Saver account with a 3.01% AER.

The savings account offers a fixed bonus of 1.36% for the first 12 months and savers can then choose between monthly and annual interest payments.

Online savers can set up an account with as little as £1 and can make unlimited withdrawals with no penalties or notice periods.

Richard Norman, director of savings at Post Office, said: “We are pleased to offer an online savings rate which continues to break the three per cent barrier.

“Not only will savers benefit from a great rate of return, they will have the flexibility and reassurance of unlimited access to their money with no penalties for doing so.”

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