Ford Money boosts curiosity on two accounts with charges as much as ‘aggressive’ 4.75%
Ford Money has elevated interest on two versatile savings accounts to supply prospects essentially the most “competitive” rates “possible”.
The accounts now providing larger returns embody Ford Money’s Flexible Saver and Flexible Cash ISA, with new charges of 4.75 p.c and 4.25 p.c, respectively.
Commenting on the offers, Ford Money mentioned: “We have taken this action as part of our routine practice of regularly reviewing our product portfolio and positioning within the wider savings market, as well as our current deposit-taking needs.
“All changes at Ford Money are made to ensure we’re offering customers the most appropriate and competitive accounts possible at any given time in the market.”
The new rates of interest turned efficient on Thursday, August 24, and apply to new and present prospects.
Ford Money Flexible Saver – 4.75 p.c
The Flexible Saver is an easy-access account that allows folks to place cash in and transfer it out as usually as they like. These sorts of accounts sometimes have a variable rate of interest, which implies it might change over time.
The account is now providing an Annual Equivalent Rate (AER) of 4.75 p.c, up from 4.5 p.c.
People can launch an account on-line with a minimal deposit of £1 and curiosity could be paid both month-to-month or yearly. Savers have to be aged 16 or over and as much as £2million could be invested general. Withdrawals are additionally permitted at any time with out incurring a penalty cost.
Joint accounts are additionally allowed, nonetheless, savers have to be comfy with solely having the choice to entry and handle their accounts on-line.
Ford Money Flexible Cash ISA – 4.25 p.c
Ford Money’s Flexible Cash ISA is now providing an AER of 4.1 p.c, up from 4 p.c.
ISAs supply a spread of further advantages, akin to enabling cash to develop with out having to pay tax on the curiosity above the Personal Savings Allowance (PSA).
Like Ford Money’s Flexible Saver, that is an easy-access ISA account that permits withdrawals freed from cost. It additionally has a variable rate of interest, which implies it might change over time.
The account could be opened on-line by folks aged 16 or over with a £1 deposit. Interest is calculated day by day and could be paid month-to-month or yearly.
The account can solely be launched on-line, as much as £2million could be invested, and other people can transfer cash out or switch it to a different ISA with out shedding curiosity earned.