Post office has always been promising when it comes to people’s savings. They not only provide the right kind of platform where people could save but also, convenience and ease for their savers. They keep in mind the difficulties and behavior of the people who wish to save and amend their rates and rules according to what the people want. Post office has just recently announced a new Reward Saver Account which gives a greater incentive to savers. This particular reward account was announced early January and currently provides some of the best rates around.
The most attractive part of this new feature is that people can withdraw their savings with a very minimum charge at any time of the year. If the savers provide a 30 days’ advance notice to withdraw the specific amount, no charge is deducted but if they want to access their savings without a 30 days’ notice, then they will have to be charged a penalty fee of just the loss of interest on those 30 days. Moreover, if a person feels the need for a monthly or a yearly compounding rate, he can request the Post Office for either of the case. Even in the case of monthly compounding a very attractive rate is given by the Post Office. This is the amount of flexibility given by Post Office.
People can visit the branch, call them or even write to them if they want to access their account. Hence this shows how convenient and attractive this would be for people who want to save.
The Post Office reward saver accounts scheme not includes a 3% Annual equivalent rate (which is by the way more than any of the rates given by the competitors of Post Office, including Aldermore’s) but it has also announced a 1.25% bonus in the first year.
Another unique and rather attractive feature is that Post Office has announced to be flexible and change their interest rates in line with those of the Bank of England’s rate changes. This promise is yet for 2013 only but you never know what new feature or facility post office comes up with then.
As a reward for the easiness made by Post Office for people who save, and the effectiveness of Post Office to provide people with such a terrific platform to save, has not only made Post Office popular among the savers but it has also earned them numerous rewards. These rewards not only have awards for the benefits of savings, but also for a consistent rate, and fixed rate bond provisions. Indeed this is a great achievement of Post Office.