Accounts for Over 50s

Disclaimer: The rates shown are for information purposes only. Although endeavours have been made to provide accurate and timely information, Investment Sense Ltd cannot be held responsible for any errors or omissions of the information supplied.

All rates are subject to change without notice, please check with the bank or building society before investing. With fixed term notice savings accounts you can’t usually withdraw your money until the notice term has ended. Penalties may apply.

Eligible deposits are protected by the Financial Services Compensation Scheme ‘FSCS’ up to a maximum level of £85,000 per person per registered institution.

Chorley Building Society Over 60’s Account – Issue 3

AER
Notice/Term
Minimum Required
Account Opening
0.70% £170,000 -£500,000
0.50% £85,000 – £169,999.99
0.30% £1 – £84,999.99
None
£170,000 for 0.70%, but account can be opened with £1
Branch, Post
More Details

ESBS Heritage Account

This account can only be opened by existing members or by people living within the post code areas of LE, CV9-13 inclusive and DE11-15 inclusive and is for customers aged 50 and over
AER
Notice/Term
Minimum Required
Account Opening
0.70%
None
£1,000
Branch, Post
More Details

Accounts for Over 50s

Traditionally Accounts for the over 50′s often provided a better interest rate than accounts that are more widely available, however as the number of banks and building societies offering these types of accounts has dwindled the interest rates have become less competitive.

However, if you are over the age of 50, these types of savings accounts are definitely worth a look, just to see if the rates are indeed better than other types of savings accounts.

As shown on the table above Savings Accounts for the over 50’s cover a wide range of savings options and are available as Cash ISAs (Individual Savings Accounts) as well as Notice and Fixed Rate accounts. They generally need a smaller initial deposit to be opened and are typically available to open in a variety of ways including by post, in a branch and over the internet.