Principality Building Society high interest savings account 'bridges gap'

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Principality Building Society high interest savings account 'bridges gap'

The gap between instant access savings accounts and longer-term products is bridged by a new proposition from Principality Building Society.

This is the view of savings manager at the firm Kate Murray, who claimed there is a degree of flexibility to the arrangement, as well as a competitive interest rate.

She highlighted how the Promise Saver allows unlimited withdrawals for the first 12 months with a return of 2.3 per cent, with clients receiving two per cent every year after that, as long as they only make two withdrawals or fewer annually.

"We have been successfully fulfilling our promise to look after the needs of savers for 150 years and we have no intention of compromising on this heritage," said Ms Murray.

In her opinion, the Principality Building Society Promise Saver is an innovative product that aims to meet the needs of the modern consumer.

The same organisation recently unveiled its e-Isa Issue 2 account, which offers a tax-free return of 2.8 per cent.

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