Posted on February 13, 2010.
AA launches new high interest savings account The higher rate is paid on balances between £ 50,000 and up to 1 million pounds, which includes a rate for 12 months as a bonus of 2.80% per annum gross
If not for those with a major investment, minus the savings account AA proposes% pa 3.15 / AER on investments from only £ 1 and £ 49.999, which includes a premium rate of 2.65% for 12 months.
This account offers savers instant access to their funds by transferring cash to their nominated account to enable them to make unlimited transactions without giving prior notice.
Apply and manage your AA Internet Extra account safely online with mini-states and complete service available using online banking.
These high rates are possible as the account is fully managed online, enabling the company to cut the middlemen and pass the savings on to customers.
Interest is variable and calculated on a daily basis, payable on the anniversary date of first filing and annually thereafter. Interest can be paid to your account AA, or any other bank in the United Kingdom or on behalf of the construction company.
To qualify for the higher rate level of 3.30% Gross PA / AER investors must maintain a balance of at least £ 50,000.
This provides another example of the savings market is booming and showing signs of improvement in the midst of the recession. Moves like this are likely to boost competition in the savings industry, with other suppliers to respond in an effort to cope with competition.
