In a recent announcement earlier this week, the Post Office has unveiled a new deal for UK banking customers currently shopping for their ideal savings account by adding a new financial product to their existing lineup.
The financial lender recent launched their new Online Saver product, an internet savings account, which is offering not only a 12-month bonus but an immediately available annual equivalent interest rate of 2.85 per cent.
The high interest rate is especially attractive to consumers who are seeking to offset the erosion caused by the above-target inflation rate currently being experienced by the UK economy.
This new Online Saver account follows hot on the heels of the Post Office’s Reward Saver account, introduced this past July, and the two new products taken together reveals the financial institution’s intention to showcase its commitment to an expansion of its selection of financial packages in regards to catering to the individual needs of its myriad customers.
This commitment to variation is exemplified, industry experts say, by the Online Saver launch, which will enable customers who need the ability to manage their finances in a convenient and flexible manner that only Internet access can supply.
The Post Office’s director of savings and investments, Richard Norman, released a statement in which he commented on the new developments for the company, saying that the Online Saver product was another step towards an increase in the Post Office’s ability to offer financial services to their customers.
In related news, recently released data from a study conducted by Spanish-based bank Santander revealed that 20 per cent of all UK banking customers have demonstrated loyalty to their current banks by staying with them for three decades or more. Market analysts point out that the figure may be artificially low, however, considering the percentage of banking customers in the UK who are under 30 years of age.