Jul 14 2006
Savers with Britain's second largest mutual are set to enjoy better rates for longer as the building society is extending a guarantee to match the Bank of England base rate for another year.
Britannia has announced that investors in its DirectSaver account will be offered an interest rate that at least matches the base rate until July 31st 2007 – previously July 31st 2006.
The telephone-based account currently gives savers a rate of 4.5 per cent gross a year on a minimum balance of £1,000.
"The DirectSaver is one of Britannia's most popular savings accounts and our extended guarantee gives savers peace of mind that they will reap the benefits of a great interest rate for another year," said Tim Franklin, Britannia's managing director of Member Business.
"To give savers even more flexibility, we have introduced an online DirectSaver facility, in addition to the existing telephone service. This means that savers can now check their balance, view recent transactions and transfer funds online."
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