first direct offers 3.5 percent interest rate on savings – ‘future you will say thanks!’

Saving money is a challenge when costs are rising, but many people are still determined to plan ahead. Fortunately, savings rates on bank accounts are improving, after a long period of decline due to the pandemic.

With many options out there, Britons will be looking for the one which grows their cash the most.

First direct is offering an account which could entice Britons into becoming savers once again.

The provider’s regular saver account currently offers an interest rate of 3.50 percent – attractive in the current climate.

The rate is also fixed for 12 months meaning savers are guaranteed to have this rate for the length of the term.

READ MORE: Warning issued to Britons who use cash in supermarkets

Existing customers will be able to apply by downloading or logging on to the first direct app.

Alternatively, they could apply using their existing online banking.

It is worth noting partial withdrawals with this account cannot be made. Instead, if Britons wish to take out money, they will have to take out the whole amount.

It means the account is likely more suited towards those who can leave the sum untouched for 12 months.

The account will mature and close on the first anniversary of the date is was opened, based on a 365 day year.

The final balance is then transferred to another first direct savings account, likely with a lower interest rate.

The first direct regular saver also benefits from FSCS protection.

It means should the worst happen, all money up to the value of £85,000 is protected. 

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More