Birmingham Midshires boosts savings rate

Mon, 04 Sep 2006

Birmingham Midshires has boosted the interest rate in its savings accounts.

The company has raised the rate on its savings accounts to five per cent, following the last Bank of England base rate rise.

Furthermore, Birmingham Midshires also claims that the move confirms a pledge made when the account opened, to beat ING's savings rates by 0.25 per cent.

Birmingham Midshires' BM Direct Saver Account was launched in July and guarantees to beat any competitor.

Richard Brown, head of savings products at Birmingham Midshires, said: "We are thrilled that so many savers are taking advantage of this great account which ensures that our customers are always getting a great deal, without having to shop around.

"Birmingham Midshires has consistently been in the best buy tables and has established itself as one of the UK’s leading direct savings providers ."

The company's savings account has a minimum investment of £1, up to a maximum of £1 million, while customers can open up to ten accounts.

Nationwide Building Society also recently raised the interest rate on its savings accounts by 0.25 per cent.

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