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Saffron Building Society, the regional mutual serving East Anglia, today announces that it will be boosting its rate on its popular e-saver 55-plus online account.

This rate boost takes the savings rate to 2.30% (gross.p.a./AER), making it one of the most competitive “over 50’s” savings accounts currently available. The product carries a guarantee that it will always be at least 0.80% over the Bank of England Base Rate until August 2012.

The rate increase is not subject to a limited period and is available to both new and existing customers.

Sales and Marketing Director John Eastgate said:

“With Bank of England Base Rate at an unprecedented low, we are very conscious that older savers are not receiving the returns that they will have expected from their savings. This rate boost is aimed at supporting them and allowing them to get a better return without having to move their money.

“Protecting the interests of our core membership base, which includes older savers, is central to our ethos as a regional mutual. At a time where lower interest rates are disheartening many savers, I hope that this boost will help restore the feeling that saving is still worthwhile”


*New money earns bonus interest rate only when the account balance exceeds the balance on the 1st April 2009.
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Media: For more information on Saffron Building Society contact Jennifer Comerford or Shellie Wells at Lansons Communications 0207 294 3678/ 0207 294 3627 or email saffronbs@lansons.com.

Note to newsdesk

About Saffron Building Society
Saffron Building Society has served the needs of the local community for 160 years and is committed to doing so in the future.

A mutual organisation, Saffron Building Society is owned by its 90,000 members and exists solely for their benefit.

The Society employs over 120 staff across Anglia who understand our local customers needs, providing genuinely outstanding service, backed up by a product range that offers real value for money.

Visit www.saffronbs.co.uk for current mortgage rates, UK savings accounts and commercial building insurance

This press release was distributed by ResponseSource Press Release Wire on behalf of Soup Ltd in the following categories: Personal Finance, for more information visit https://pressreleasewire.responsesource.com/about.