Post Office Savings
 |  Compare Post Office savings details against other savings or use our savings comparison tables.Did you know Post Office also provide credit cards, travel insurance and motorbike insurance? | ||
| Company: | Post Office Ltd www.postoffice.co.uk | Post Office Ltd www.postoffice.co.uk | Post Office Ltd www.postoffice.co.uk |
| Product: | Instant Saver | Cash ISA | 1 Year Growth Bond |
| details | details | details | |
| Apply via this site: |  | Not available | Not available |
| | | |
| Savings Details | |||
 Account Type: | Instant Access | Cash ISA | Term |
| Rate Type: | bbr | variable | fixed |
| Headline Interest Rate: | 5.75% | 6.25% | 6.75% |
| Interest Rate Guarantees: | tracks bbr until 01/01/10 | no lower bbr - 0.25% until 01/01/10 | n/a |
| Application Criteria | |||
| Existing Customer Only: | no | no | no |
| Minimum Age: | 11 | 16 | 0 |
| Restricted Availability: | no | no | no |
| Area Restrictions: | none | none | none |
| Minimum Investment: | £500 | £1 | £500 |
| Maximum Investment: | £1,000,000 | n/a | £1,000,000 |
| Minimum Balance: | £1 | £1 | £500 |
| Maximum Investment pa: | n/a | 3600 | n/a |
| Maximum Balance: | n/a | Unlimited | n/a |
| Introductory Rates | |||
| Introductory Bonus: | 1.50% | 1.50% | 0% |
| Incentives Offered: | no | no | no |
| Rates | |||
| Tax Free: | no | yes | no |
| Open-ended Bonus: | 0% | 0% | 0% |
| Bonus Payment Conditions: | 12 months intro bonus | intro bonus for 2008/2009 tax year | n/a |
| Rate Tiers: | no | no | no |
| Fixed Term: | n/a | n/a | 1 year |
| Fixed Term in Months: | n/a | n/a | 12 |
| Fixed Interest Rate: | n/a | no | yes |
| Fixed Rate Period: | n/a | n/a | 1 year |
| Term Period: | n/a | n/a | 12 |
| Interest Payment Freq: | annually | annually | annually |
| Managing Account | |||
| Instant: | yes | n/a | n/a |
| Passbook: | no | no | no |
| Transactions at Branch: | yes | quarterly | yes |
| Statement Frequency: | annually | yes | maturity |
| Transactions by Phone: | yes | no | no |
| Transactions by Internet: | yes | no | no |
| Transactions by Post: | yes | yes | yes |
| Special Access: | yes | no | yes |
| Withdrawal Conditions: | yes | no | yes |
| Transfers In: | n/a | yes | n/a |
| Transfers Out: | n/a | yes | n/a |
| Closure Before Maturity: | n/a | n/a | no |
| Transferred on Maturity: | n/a | n/a | maturity account |
| Fees & Charges | |||
| Penalty on all Wdls: | no | n/a | n/a |
| Trans Notice/Pen/Charge: | n/a | no notice, penalty or charge | n/a |
| Transfer Notice: | n/a | 0 | n/a |
| Transfer Penalty: | n/a | 0 | n/a |
| Transfer Charge: | n/a | 0 | n/a |
| Withdrawal Notice: | n/a | 0 | term |
| Withdrawal Penalty: | n/a | 0 | n/a |
| Withdrawal Charge: | n/a | 0 | n/a |
| W/d Notice/Penalty/Charge: | n/a | no notice, penalty or charge | n/a |
Compare Post Office Savings
Post Office Savings Accounts Benefit from 'Flight to Safety'
Savings accounts at the Post Office are becoming increasingly popular, with customers looking to safeguard their deposits.
The Post Office - whose accounts are managed by the Bank of Ireland - is doing particularly well because it offers a 100 percent guarantee for all savings deposited. Irish lawmakers passed a bill today on the guarantee, in order to shore up confidence in the nation's banking system following the market instability of recent days.
By contrast, the UK is only to offer a guarantee for the first £50,000 of savings, up from its previous level of £35,000. Therefore, the two percent of British savers who have over £50,000 in a single account will risk losing money if their bank collapses.
Speaking to the Daily Express, a Post Office spokeswoman said: "Since the amount that was protected was first changed, we have seen an increase."
Investment expert Stephen Ford at Brewin Dolphin added that people with exposure to the equities markets were also looking to the Post Office as a safe haven. "Yesterday we were inundated with calls from clients asking not about their share portfolios but where they should be putting their cash," he said.
"All our clients are asking if they should move their money. They are aware that basically Northern Rock and the Post Office are the only fully underwritten banks in this country. The Irish banks now look to be the safest in Europe."
Compare savings accounts via money.co.uk
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