BM Savings launches a new tiered variable interest savings account - Online extra (issue 1)
11 January 2012
BM Savings has just launched a new tiered variable interest savings account – the online extra (issue 1). The account provides different rates of yearly interest depending on the balance saved.
- from £1,000 - £19,999.99 offers 2.60% gross / AER
- balances of £20,000 - £49,999.99 receive 3.00% gross / AER
- balances of £50,000 or more attract a rate of 3.20% gross / AER
- each rate includes a fixed bonus for the first 12 months and will revert to 0.50% gross / AER after this time
- If balances subsequently fall below the minimum opening balance, interest will continue to be paid at 2.60% gross / AER including the fixed 12 month bonus of 2.10%.
Online extra (issue 1) offers you easy 24/7 access online via a Linked Account and you can make unlimited transactions as there are no charges for deposits or withdrawals – so you can manage your money when it suits you.
Interest is calculated daily and paid yearly on the anniversary of your first deposit. It can be paid back to the account, away to your Linked Account or to another BM Savings account. Interest paid away to another bank or building society will reach that other account by the end of the next bank working day.
Find out more about our online extra (issue 1) yearly interest
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