AA savings account with "no strings"

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AA savings account with "no strings"

A new best-buy internet savings account which claims to have "no strings" has been launched by AA Savings.

The AA Internet Access Account offers a 6.30 per cent gross/AER and requires a minimum deposit of £500 and a maximum of £500,000.

Unlimited withdrawals and penalty-free deposits are also part of the new account, which does not include an introductory bonus.

The AA Internet Access Account can be opened in sole or joint names, interest can be paid on a monthly or annual basis and customers can open multiple accounts.

Mark Huggins, managing director of AA Financial Services, commented: "At a time when there is concern about financial stability in some institutions, the AA is offering a secure, well-managed savings account.

"The account will be attractive to those who feel their current savings are being eroded by poor interest rates and reflects growing confidence in using the internet for financial transactions."

In April, AA Savings launched an internet savings account with 5.61 per cent gross/AER.

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