- The easy-access account can be opened through Furness BS’s new app
Savers can now get their hands on a best buy 4.9 per cent easy-access rate from a little-known mutual.
Furness Building Society has launched a new double-access savings account. Savers opening an account with it would garner £490 of interest on a £10,000 deposit over one year.
The previous best easy-access account on This is Money’s independent best buy tables pays 4.86 per cent, meaning Furness’s new rate propells it to the top of the best buy tables.
Unusually for a building society, Furness has also launched an app, and the new easy-access account is available to open on it.
Furness Building Society has launched a best buy easy-access account paying 4.9% and it has also launched a new app
The account is available to new and existing members and can be opened with a minimum of £1 and a maximum of £250,000 for individual account and £500,000 for a jount account.
Up to £85,000 is protected under the Financial Services Compensation Scheme (FSCS) or up to £170,000 in the case of joint accounts.
However, it’s not strictly a pure easy-access account as savers can only make two withdrawals over the course 12 months.
If more than two withdrawals are made within a 12 month period, Furness will transfer your account to an access account which pays a lesser rate of 2.5 per cent.
Furness’ new app, ‘Furness Savings’, can be downloaded via the App Store, Google Play Store and online.
An in-app messaging service is also available through the app allowing customers to contact the customer service team.
For those who do not want to download an app, the account can be opened the traditional way by calling into a Furness branch or by phone or online.
Furness has nine branches in the North West, including in Barrow-in-Furness, Lancaster and Preston.
Savers looking for an easy-access without withdrawal restrictions or penalties, Chetwood Bank is offering 4.86 per cent.
Chip is offering 5 per cent on it’s easy-access account but this includes a bonus of 0.93 per cent for the first 12 months. It also only allows three penalty free withdrawals every 12 months.
Larry Chan, head of savings strategy, Furness Building Society, said: ‘Our new app is a means for us to take our renowned levels of customer service, built through generations of Furness expertise, to a digital audience.
‘Upholding our commitment to retaining in-person banking, our Double Access Saver will also be available in our branches. Our app is designed to complement our in-branch services, giving our customers the freedom to manage their money any way they choose.’
SAVE MONEY, MAKE MONEY
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. *Chase: Cashback available for first year. Exceptions apply. 18+, UK residents.