Optimism rises again today with another provider improving its interest rate.
Britannia has increased the rate on its
Select Saver Issue 7, from 0.80% gross/AER to 1.10% gross/AER.
This significant increase pushes the provider up into our best buy table, matching the rate offered by
RCI Bank^ on its
Freedom Savings Account.
There are two key differences to be aware of between these accounts:
Firstly, funds held with
RCI Bank are covered under the FGDR, which is the French equivalent of the UK FSCS.
Secondly, the
Britannia account carries with it a restriction on the number of withdrawals that can be made before the rate drops substantially, whereas the
RCI Bank account carries no such restriction.
These accounts are surpassed only by the market-leader
Yorkshire Building Society, paying 1.15% gross/AER on its
Single Access Saver - Issue 3. Before proceeding it is key to note that, as the name suggests, you are limited to one withdrawal each year.
For further information on these accounts and other options available, please see our
Best Buy Tables.
As always, if you would like any help with your savings or would like to discuss further options, please call us on
0800 321 3581, we’d love to hear from you.
@savingschampion
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