Spotlight: Intelligent Finance iSaver

Easy-access savings accounts have fallen out of favour with savers at the moment due to the low interest rates on offer.

Now, however, Intelligent Finance – part of the Lloyds Banking Group – has thrown down the gauntlet with its new isaver account.

The internet-based account is paying an attractive variable rate of 2.85 per cent. Also, unlike most easy-access accounts, the headline rate does not include an introductory bonus.

Instead, Intelligent Finance is guaranteeing this rate will stay at least 1 per cent above the base rate until 31 December 2009. With that still sitting at 0.5 per cent, this means the account will pay a minimum of 1.5 per cent.

Savers can open an account with as little as £1, and unlimited withdrawals can be made without incurring any penalties or charges.

One possible disadvantage is that any withdrawals or transfers must be made online through a nominated account. That said, with all the talk of a possible base-rate rise in the coming months, this should be an account to keep an eye on.