Over 50s savings

violetta35

Hello all. What are the advantages if any of over 50 saving accounts?
regards, David.

castle96

some are ONLY available to over 50s.
I have one that is paying 3.25% on a current account, money in/out

alanq

Age related accounts sometimes offer better rates but sometimes there are better accounts even with the same institution available to everyone.

castle96 wrote: »

some are ONLY available to over 50s.

If an account is available to someone under 50 it is not an over 50s account.

castle96 wrote: »

I have one that is paying 3.25% on a current account, money in/out

I would be interested to hear about that. Is it still available to new customers?

aspiration_2

castle96 wrote: »

some are ONLY available to over 50s.
I have one that is paying 3.25% on a current account, money in/out

Could you kindly say which account gives this 3.25% ?

Cheers

violetta35

Aspiration. I don’t know of anyone paying 3.25%. But of course rates keep changing. I have a ISA with Sandtander at 3.2% . I see they are now withdrawing from general release.

castle96

it is with the Coventry. Fixed at 3.25% 11/09 - 11/10. Internet current a/c over 50. No restriction on money in/out. A nice instant access savings a/c

alanq

A 50 Plus eSave (6)? Which is no longer available. Nice accounts while they last but rates reduce after the first year and having had one of these accounts you are barred from ever opening any future such account at better rates. (Though there have been reports of some members of these boards managing to do so)

I would not describe it as a current account. It is an easy access online account but with no cheque book, debit card, ATM card, direct debits, standing orders etc.