Online Bank Accounts – UK

Due to the current economic slump and financial crisis, the official interest rates are unusually low.

However, if you look around devoting some time to the task, you may find out that it is still possible to run across not so low interest rates.

For instance, the Fixed Rate Halifax Web Saver, an online savings account, can yield up to 4.75% AER/gross.

This applies to its 5-year term and for a deposit of at least £500.

As one might expect, the interest rate diminishes at the shortening of the time term, but it seems to keep a rather interesting look (AER/gross):

• 1 year = 3.00%
  
• 2 years = 4.15%
  
• 3 years = 4.25%
  
• 4 years = 4.50%

No early withdrawal is allowed. Early closure permitted after 3 months, with loss of interest. Access to deposited money is on maturity, unless closed early.

It is also possible to get the Fixed Rate Halifax Web Saver for just few months (AER/gross):

• 3 months £500+ = 1.10%
• 6 months £500+ = 2.30%
• 6 months £50,000+ = 2.50%
• 9 months £500+ = 2.75%
• 9 months £25,000+ = 2.85%
  

Halifax (halifax.co.uk) is a division of Bank of Scotland plc, which is part of the Lloyds Banking Group.