Wednesday 7th May 2008
A new account from Saga promises to track the five best-performing counterparts, ensuring it remains competitive with the most lucrative savings accounts on the market.
The over-50s financial services provider explains that its new Online Top 5 Tracker account follows any moves made by the five main online savings accounts.
Instant access is available to funds, with no upper limit on the number of times the account may be accessed in a given period of time.
While Saga does not promise to match exactly the best alternative, the account is set to remain within 0.25 per cent of the average interest rate paid by the five most profitable competitors.
Saga spokesperson Andrew Goodsell says: "Sagas new account further demonstrates our commitment to offering savers a guarantee of stability.
"Unlike many providers we arent just offering this rate to new customers - all of our existing online savings account customers will also automatically receive this enhanced rate."
In March, Saga added two new accounts to its savings portfolio, one administered via telephone and an eight per cent one-year guaranteed equity bond.
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