Nottingham pays top rate on the web

SAVERS can earn 2.56 pc after tax (3.2 pc before) on the top easy-access account — but only if they run their account over the internet.

Nottingham BS has launched its e-saver 3 (minimum deposit £1) with this top rate and gives unlimited access to your money. Close the account before June 30, 2013, and you’ll earn only 0.8 pc (1 pc), as you won’t qualify for the 1.76 (2.2) percentage point account bonus.

Savers must be wary of the increasingly onerous terms and conditions which come behind the top rates on easyaccess accounts. If you fall foul of them, you can lose your bonus, earn less than the headline rate, or find your original bonus has been cut.

For example, West Bromwich’s Websave Easy Access pays 2.53 pc (3.16 pc), including a fixed-rate bonus of 1.29 pc (1.41 pc) on a minimum investment of £10,000.

However, you can make only four withdrawals a year. If you make any more, you lose 90 days’ interest on the money you take out.

And Santander’s esaver Issue 4 at 2.4 pc (3 pc) includes a variable rate bonus of 2 pc (2.5) percentage points for the first year, which means the bank can change it at any time.

The top rate without complicated terms and conditions comes from Derbyshire Netsaver3 at 2.45 pc (3.06 pc), including a fixed 1.65 (2.06) point bonus until June next year.

On the High Street, the best no- strings deal comes from Virgin Money, with its Easy Access account, through Northern Rock branches at 2.28 pc (2.85 pc). It has no bonus and no withdrawal restrictions.