Scottish Widows launches 3.01% internet saver account

Scottish Widows Bank has launched a new internet saver account for personal customers.

The online account offers an interest rate of 3.01% Gross/AER (variable), which includes a 1.00% bonus for the first 12 months, for new customers to Scottish Widows, with a follow on interest rate of 2.01% Gross/AER (variable).

The minimum investment required is £1.00, with a maximum of £5 million. Interest is paid to customers on a monthly, quarterly or annual basis.

The savings account can be applied for, and managed online, and can be opened alongside an existing current account. There is no notice period or penalties for withdrawal and the account has a maximum of £10,000 daily online withdrawal limit.

Mandy Webster, Marketing Manager, Scottish Widows Bank said:

“We are delighted to be launching a strong online savings account to the consumer market. This complements our wide range of no notice and fixed term savings accounts on offer. Customers benefit from a good interest rate on their savings as well as quick and easy online access. Managing money is simple and straightforward as our Internet Saver Account also works alongside the customer’s existing current account.”

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