AA fixed-rate account launched

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AA fixed-rate account launched

The AA fixed-rate account has been launched, aimed at those wishing to find a home for their savings above the £3,000 mini cash individual savings account (ISA) option.

Lloyd East, general manager of AA Personal Finance, said: “We’re seeing an influx of investment in our one-year fixed-rate account, which is currently paying 4.88 per cent gross annual percentage rate.”

Customers wishing to use the AA fixed-rate account must invest between £500 and £5 million.

Furthermore, investors can choose whether to have their interest paid on a monthly or yearly basis.

Mr East went on to say that for those saving "significant sums" of money the "monthly income option can be appealing".

Customers interested in the AA fixed-rate account can contact the financial services provider through the internet or via the telephone.

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