• Best Buy rate of 3.00% AER*

The Post Office has today (January 9th 2012) launched a new issue of its branch based Reward Saver account.  The account offers a rate of 3.00% AER* variable which includes a 12 month bonus of 1.25%.

Reward Saver offers flexibility to savers depending on how quickly they need to access their money.  Easy access withdrawals can be made with the loss of the 30 days interest on the amount withdrawn, or penalty free, provided 30 days notice is given.

Reward Saver continues to be backed by the Post Office ‘Savings Promise’. The promise is unique to the high street, guaranteeing to match any Bank of England Base Rate changes until 1 Jan 2013.

The account can be accessed in-branch, by phone and post.

Post Office Director of Savings and Investments, Richard Norman, said: “The new issue of the Post Office Reward Saver account further demonstrates our dedication to branch savers.  The best buy rate will help more people make their money work harder for them.”

Product details:

Post Office Reward Saver:
3.00% gross/AER* variable
 Best Buy savings account
 Available from January 9, 2012
 The reassurance that you can access your savings whenever you need to, subject to the loss of 30 days interest on the amount withdrawn
 Free withdrawals available subject to the provision of 30 days notice
 A choice of monthly or annual interest
 Rate includes fixed bonus guaranteed for the first 12 months.

Detailed rates as follows:  

To find out more about the Reward Saver or any other Post Office savings product go to www.postoffice.co.uk/savings or ask at your local branch.

Ends

Notes to editors

*AER stands for Annual Equivalent Rate and illustrates what interest a saver would receive if the interest was paid and compounded each year.  Gross rates are fixed and do not take into account deductions of income tax.

The Post Office has recently received the following awards for its popular savings range:
• Best Savings Provider – MoneySupermarket Supers Awards 2011
• Best High Street Savings Provider - Consumer Moneyfacts Awards 2011
• Best Savings Account for consistency of rates - Moneywise Awards 2011
• Best Savings Provider - What Investment Readership Awards 2011
• Best Fixed Rate Bond Provider - 2011 Moneynet Awards
• Best Fixed Rate Savings Provider - 2010 Moneyfacts Awards.
For more information, please contact:

Stuart Taylor
Post Office Press Office
02920 392572 / 07715 480146
stuart.taylor@royalmail.com

www.postoffice.co.uk