Portman Building Society members' loyalty account launched

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Portman Building Society members' loyalty account launched

A second Portman Building Society members' loyalty account has been launched following the success of its predecessor.

The new account, available to savers and borrowers from tomorrow, comes with a variable rate that currently pays five per cent.

All Portman members are eligible provided they have held a savings account with the building society for the last three years and have had an average balance of £2,500 for the last 12 months. Borrowers can apply too.

Chris Shelley, savings product manager at Portman, said that the first loyalty account had proved popular with members and hoped the second issue would keep up demand.

"The interest rate on this account is competitive and, as the account will be available for the foreseeable future, I hope our members will continue to take advantage of this exclusive product," he said.

The Portman Building Society members' loyalty account is guaranteed to be 0.5 per cent above the Bank of England base rate for one year.

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