Savers can earn up to 1.55% in interest via a new online easy access account from building society the West Brom.
WeBSave Easy Saver offers tiered rates of interest depending on how much customers are able to invest. For balances over £15,000, the full 1.55% AER/gross p.a. variable is received.
Balances above £5,000 but below £15,000 will earn 1.10% AER/gross p.a. variable and those below £5,000 receive a rate of 0.75% AER/gross p.a. variable.
The account is opened and operated via the West Brom’s website and the minimum opening balance is £1,000. Interest is paid annually and additional investments can be made at any time up to a maximum balance of £250,000.
WeBSave Easy Saver offers savers unlimited access to their funds without notice or charge.
The West Brom’s Head of Products David Taylor said: “WeBSave Easy Saver is a simple and straightforward product which encourages people to build up their savings balances in order to earn our best rate of interest at the moment for an easy access account.
“There are no unwanted restrictions or temporary bonuses and we expect customers will also welcome the freedom and flexibility that comes with managing their money online.”