Chorley Building Society’s Easy Access Saver places fourth with an AER of 2.75 percent.
The account can be opened with a minimum deposit of £500 and up to £500,000 can be invested. Interest is calculated daily and paid annually on December 31 and up to four withdrawals are permitted per calendar year without penalty.
Additional withdrawals will result in a lower rate of interest equivalent to Chorley BS’ Instant Access Account rate (currently one percent AER) being paid for the rest of the account year. The account year runs from January 1 to December 31.
In fifth place is Cynergy Bank’s Online Easy Access Account (Issue 54), also with an AER of 2.75 percent including a bonus.
The account can be opened with a minimum of £1 and interest is calculated daily on the cleared balance and paid annually on the anniversary of the initial deposit.
The rate includes a 0.15 percent fixed bonus for the first 12 months. After 12 months, the interest rate reverts to 2.60 percent AER variable. Accountholders can make unlimited withdrawals without facing a penalty.
Sainsbury’s Bank’s Defined Access Saver (Issue 35) places sixth with an AER of 2.61 percent.
A minimum deposit of £1 is required to open the account and up to £2million can be invested overall.
Interest is paid at a tiered rate, which sees a 1.5 percent rate applied to savings between £1 and £999, a 2.61 percent rate applied to savings between £1,000 and £500,000, while a more modest 0.9 percent rate is applied to savings over £500,001.
Up to three withdrawals are permitted per 12 month period. After the fourth withdrawal is made, interest will drop to 0.8 percent until the 12 month period ends.
In seventh place is Yorkshire Building Society’s Internet Saver Plus (Issue 12) with an AER 2.6 percent.
This account requires a £1 minimum deposit to open and offers a tiered interest rate on the balance. For savings between £1 and £10,000, a 2.3 percent AER is applied, while savings of over £10,000 and £50,000 will qualify for the 2.6 percent and 2.65 percent AER. Withdrawals are also permitted without penalty or notice.
Buckinghamshire BS’ Triple Access Saver places eighth with an AER of 2.6 percent.
This account requires a minimum deposit of £100 to open and up to £500,000 can be invested in total. Interest is calculated daily and paid annually on December 31.