Our pick of postal savings accounts

If you’re looking for a savings account that you can operate by post, there are several options available to you through high street banks and building societies.

Here are some of the best postal savings accounts we came across.

Leeds Building Society – The Fixed Rate Postal Bond Issue 4 pays annual gross interest at a rate of 2.8 per cent. Savers are allowed to withdraw cash at any time without notice or loss of interest, as long as they keep an operating balance of £1,000 in the account. The account will close if the balance drops below £1,000. You can open this bond online or by post, after which it can only be managed by post. The minimum amount needed to open one is £1,000 and the maximum balance is £1 million for solo accounts and £2 million for joint accounts.

Nationwide Building Society – The InvestDirect account can be operated by first class post, online, by phone and cash card. All the postage costs are met by Nationwide, who will send savers pre-paid envelopes along with paying-in and withdrawal forms. Unlimited withdrawals are permitted with this account, which can be opened with £100 upwards. The minimum opening balance is £1 and the maximum balance is £2 million. Interest is paid annually at a rate of 0.2 per cent.

BM Savings – Birmingham Midshires' savings arm offers two, four and five year fixed rate bonds, which can all be operated by post. The two year account pays savers annual interest at a rate of 3.5 per cent, the four year bond pays 4.2 per cent and the five year product pays 4.5 per cent. The minimum amount needed to open an account is £1 and the maximum balance is £10 million. These postal savings accounts are designed for savers who can leave their money in for the full term, as a loss of interest charge will be made for withdrawing funds.


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