If you are an existing ING savings account holder read on to find out how you can receive a higher rate on your existing savings account. Following on from last weeks article we are pleased to inform you that for those existing ING customers currently receiving the rate of 4.75%AER, you can receive an increased rate of 5.65% AER, by transferring your existing balance to the ING Websaver account, with no penalties or charges.

The account is only for balances up to £250,000 rather than the savings account which has a maximum investment of £2 million.  You’ll also lose access to the telephone service, as this account is online only – but for most we reckon that’ll be a small price to pay to gain an additional 0.90%AER.  All you need to do is login, ‘click’ on ‘Open a savings account’ and follow the instructions.

If you are not an existing ING customer, following the base rate increase in January to 5.25% there have been a number of rate increases to easy access accounts. HSBC this week announced an increase on their online saver Account to 5.75%AER, this is however limited to maximum investment of £50,000 and no interest is paid on the whole balance within the month a withdrawal is made. Landsbanki and ICICI are still best buy easy access accounts with 5.70% and 5.65%, with £1 million and no maximum investment respectively.

For a tax free option, Alliance and Leicester this week announced the launch of their Premier ISA account offering a huge rate of 7.00%AER, with maximum investment of £3,000 per financial year, following the removal of their Premier regular saver account at 12%AER. This offering is only available when opening a Premier Current Account.

Rate updates are still being received so we will keep you posted, and with ISA season fast approaching we will keep you informed.

Links:
 

ICICI, 5.65%AER

Alliance and Leicester, Premier ISA, 7.00% AER

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