29 June 2009
Saffron boosts rate on Solicitor's Reserve Account for non-designated funds
Saffron Building Society, the regional mutual serving East Anglia, today announces an increase to the interest rate on its Solicitor's Reserve Account, aimed at local firms.
Saffron's Solicitor's Reserve account now pays 1.50% (gross/AER p.a.), bringing it in to line with the Building Society's new Business e-saver - an online account also aimed at local businesses.
The Solicitor's Reserve Account is designed to hold non-designated client funds and comes with a personal account manager to support account holders throughout their relationship with Saffron.
Christian Draper, Retail Operations Manager said: "With savings rates low across the board, we wanted to help local businesses such as Solicitors get better returns. The instant access allows firms to withdraw their client's funds whenever they require them. We are committed to providing a simple, straightforward service with a human point of contact".
Andy Golding, Saffron's Chief Executive, said: "As a regional mutual, we recognise how important local businesses and firms are to the communities we serve. Our competitive Solicitor's Reserve Account and Business e-saver builds on our commitment to supporting businesses in our area."
"We try to use local suppliers wherever possible - using providers that we both know and trust - and hope that local businesses will share this attitude and come to us to enjoy better returns on investments and other funds."
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