Online Saver (Issue 4)
For those who want to earn a reasonable interest rate without locking their money away, the Online Saver account from the Post Office is worthy of consideration.
If you choose the annual interest option you'll get a variable rate of 3.01% gross, while the monthly interest option yields a gross rate of 2.96%. The account gives you unlimited free withdrawals and access to your money 365 days of the year via the Post Office website.
This account is managed exclusively on-line and as such it is not suitable for those who cannot or do not want to manage their money via the web. Also, there is a 12 month introductory bonus of 1.36%, after which time the saving rate takes a nose dive. Be sure you put a note in your dairy to shift your savings after 12 months.
Reasonable rate, free withdrawals
On-line only, 12 month introductory bonus