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One of the accounts being highlighted this week is Shawbrook Bank’s Easy Access account which pays an interest rate of 3.26 percent.
There is no notice period attached to this account and access is permitted via the nominated account.
The minimum opening amount for the savings account is £1,000 with the maximum investment amount being £85,000.
Savers are allowed to make a minimum withdrawal amount of £500 if they take out the Easy Access product.
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Anyone interested in this account from Shawbrook Bank can open one online by visiting the financial institution’s website, and can manage their account either online or over the phone.
As it stands, the minimum applicant age for the product is 18 and a joint account option for couples is available.
Rachel Springall, the finance expert at Moneyfactscompare.co.uk, broke down the “appeal” of this savings interest rate.
She explained: “Shawbrook Bank has increased the rate on its Easy Access savings account this week, which may entice savers looking for flexibility.
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“The deal now pays 3.26 percent and requires a minimum of £1,000 to be invested upfront. Unlimited withdrawals can be made, but savers will need to withdraw at least £500.
“Savers will also find a monthly interest option is available, which may appeal if they are looking to supplement their income.”
The other top savings account for the week comes from Family Building Society, according to Moneyfactscompare.co.uk.
The financial institution is offering a 3.26 percent to savers through the Online Saver (5) which does not currently offer a notice period.
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For this particular product, the minimum opening amount is £100 with the maximum investment amount being £250,000.
Access to this savings account is allowed but the minimum withdrawal is £100 for new and existing customers.
It should be noted that further additions to the account are permitted and joint account option is readily available.
People can open and manage their accounts online with the minimum age to open one being 16 years of age.
The finance expert emphasised why this offering is a “competitive” one to be considered for those looking for favourable returns.
Ms Springall added: “Savers searching for a competitive rate on a flexible savings account may be pleased to see the latest account re-launch by Family Building Society.
“The Online Saver account pays 3.26 percent and may appeal to savers with a minimum of £100 to invest who want to make unlimited withdrawals.
“The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”
