Online Bank Accounts – UK

Egg, the UK internet bank, has recently launched two new savings accounts to help customers make their money stretch further.

New Egg Savings Account paying 2.80% gross pa/AER incorporating a fixed bonus rate of 1.55% for the first 12 months.

From 26 June 2009, this account is available to both new and existing customers with new deposits from just £1 and up to £1,000,000 and offers a competitive return with an attractive fixed bonus rate for the first year. Customers also have the flexibility to pay in or withdraw however much they like, whenever they like, without penalty.

From 1 July, Egg is also offering a three year Egg Fixed Rate Bond paying 4.30% gross PA/AER. The bond will be available to both new and existing customers who have an Egg Savings Account and for deposits between £1,000 and £2,000,000.

The interest rate of 4.30% gross pa/AER is fixed for a term of three years from the date the bond is opened. No additional deposits or withdrawals are permitted during the three year term. The bond is available to applications and cleared funds received on or before the 29 September 2009.
Source: Egg

Egg, the online bank located at the new.egg.com web address, has recently launched a new Cash ISA paying 2.50% gross pa/AER variable rate, tax free.

The product is available to new and existing Egg customers for deposits from as little as £1 up to a maximum of £3,600 per tax year.

A recent survey by Egg reveals that UK banking customers consider ease of access (via the internet and phone) as one of the most important features for a savings account. Accordingly, an Egg ISA can be set up online in minutes and customers can keep track of their savings online any time of the day or night.

Main features of Egg Cash ISA 2:

• 2.50% gross pa/AER variable rate – tax free
• Customers can deposit anything from £1 to £3,600 each tax year (a tax year runs from 6 April to 5 April the following year.)
• Customers can make a one-off deposit, regular payments or just add to it when you want to (existing ISAs cannot be transferred in)
• An account can be set up online in minutes
• Customers can keep track of it online anytime 24/7
• Interest paid annually on the anniversary of the account opening