AA savings account launched

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AA savings account launched

A new internet-based, fixed-rate savings account has been launched by the AA.

The AA savings account has interest calculated daily.

It can be paid at the end of the year at a rate of 7.21 per cent gross or as a regular monthly income at 6.28 per cent gross.

The money can be paid either into a linked account, another AA savings account or back into the original one.

It is available for investments ranging from £500 to £5 million.

Mark Huggins, director of AA personal finance, said the account gives "a secure home for your savings with a worthwhile interest rate".

Last week, the AA announced that the gender gap for car insurance premium costs is widening.

It said that young men can now expect their first year of car insurance to cost twice that of women in the same situation.

The gender gap was said to have increased by 59 per cent since 2003, with young men's costs having risen in recent years while young women's have fallen.
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