Principality Building Society launches new account paying ‘excellent’ 6% interest rate | Personal Finance | Finance newsbhunt

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As the base rate remains high, Britons are encouraged to shop around for the best interest rates for their savings.

The Principality Building Society has launched a new 2 Year Healthy Habits regular saver account this week which grabs a prominent position within its sector.

Savers can benefit from six percent gross / AER fixed which is payable on the anniversary.

This account has a minimum deposit fee meaning many savers can jump at the opportunity to get a higher savings rate, which beats inflation.

The minimum amount required to open the account is £1.

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said: “Principality Building Society has launched a new 2 Year Healthy Habits regular saver account this week, which pays six percent.

“The account grabs a prominent position within its sector and may attract savers who want to start actively saving each month.

“Earlier access is permitted, however, this is on account closure, which investors should consider, and additional monthly deposits are allowed if payments do not exceed the monthly maximum of £50.

“Savers should note that the maximum funding amount for this account is £1,200. Overall, this receives an Excellent Moneyfacts product rating.”

 

The account will be opened for two years, which after Britons can get their interest.

The minimum opening amount is £1 and the maximum monthly investment amount is £50.

Britons can access their cash on the date of the account closure.

Applicants need to be 16 and over, and they can open an account online or in the branch.

If people usually save little and often, regular savings accounts can offer top rates of up to eight percent for feeding them every month.

The top-paying regular savers are Nationwide’s eight percent on up to £200 a month and Skipton BS’ 7.5 percent on up to £250 a month.

As inflation sits at 3.9 percent, savers could be finally be able to earn money on their savings if they make an effort to switch to higher paying accounts.

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