Online Bank Accounts – UK

Saga Personal Finance (saga.co.uk) has expanded its range of savings products by the launch of the Saga Internet Saver, an online easy access savings account with an attractive AER of 2.75%.

The product was made available last May to UK residents aged 50 and over. The interest rate is variable and includes a first year bonus of 1.00% gross.

The account offers flexible saving on balances of £1 to £1million, as well as unlimited internet access to the account. There are no notice periods or fees for withdrawals and customers have a choice of yearly or monthly interest options. There is also no restriction on the number of transactions customers can make, providing peace of mind that their rainy day savings are close at hand, should they need them.

Following the Saga tradition of providing value for it’s loyal savers the account comes with a guarantee that after the first 12 months the interest rate will never be more than 2% below the Bank of England Bank Rate with a minimum rate of 0.25% AER and a maximum cap of 8%.

Tesco Bank (tescobank.com), the supermarket bank, has announced it has sold its one millionth pet insurance policy in the UK.

The millionth pet to have been insured by Tesco Pet Insurance is a two year old Labrador called Fizz owned by Philip Shepherd from Doncaster.

Tesco Bank has over six million customer accounts across 28 products and services. Key product areas are:

• Insurance – motor, home, pet, travel, dental, health and life
• Credit cards and personal loans
• Personal saving products
• Tesco Compare – online insurance and utilities comparison site
• ATMs

Tesco Bank sells its 28 products and services through multiple channels, including in-store, by telephone and online.

About 60% of new Tesco’s sales arrive online.