Best savings account with a passbook?

MattyNeth

Anyone give me an idea of what the best savings account that comes with a passbook is at present on the high street?

Do not want internet access and don't mind if 30/60/90 day notice is required to withdraw?

Milarky

Why do you require a passbook?

I was going to suggest ING direct - which isn't branch based and needs a bank account to pay money in and out easily [although you can send direct payments and/or cheques if you wish]. This pays 4.75% on £1 and is postal/phone/internet based. I think this versatility is its strength.

I know Nationwide now pays 4.5% but only for over 65s [they've been doing their marketing, you see] and it is passbook/branch based. But you have to pay [or say you're going to pay] your pension into a Nationwide flexaccount at the same time to qualify.

Most good savings accounts which aren't actually internet based these days seem to be 'card' based anyway - with paying in/withdrawal facilities at their 'outlets', by 'BACS' [standing order/one off payments], use of cash machines, and postal statements*. All the features of a passbook account except for the book!

A few examples:

Directsaver from Sainsburysbank, for instance, pays 3.75% on £1 up to £2500.

Tesco Instant Savings also offers something similar, paying 3.35% on £1 up to £3000.

*can't actually find this on the Sainsburys site, but I assume they have to send you a postal statement as it's not a purely 'online' account.

Peter-Pan_5

Northern Rock over 50`s though £5000 minimum 4.84%.

Careful_ly

If you dont mind only being able to make one withdrawal a year then you could open a Derbyshire regular saver. You need to put in between £10 and £1000 per month. You can make several deposits in a month and it pays 5.4%. In the last couple of years they have for a short time allowed you to open another account, so you then need to fund each with a minimum of £10, but it gives you two withdrawals a year.
It is a pass book account as requested.