Sainsbury’s Bank has launched an easy access account paying 2.5 per cent before tax (2 per cent after tax).

The Extra Saver account is run over the telephone or internet. There is no short-term bonus boosting the 2.5 per cent interest rate. It makes it one of the most attractive telephone-based easy access accounts for savers who do not want to keep moving their money once the bonus runs out and the rate plummets.

On internet-based accounts, Northern Rock Everyday Access Online pays a higher 2.75 per cent (2.2 per cent) with no initial bonus.

Meanwhile Principality Building Society has unveiled its Christmas Regular Saver Bond, available through its branches, with a fixed rate of interest at 5 per cent (4 per cent).

The account, with a minimum £10 and maximum £300 deposit per month, is aimed at savers looking to put money aside for Christmas 2012 and matures at the end of November next year.

Yorkshire Building Society has a similar account. Its Christmas Saver account pays a fixed rate of 3.5 per cent (2.8 per cent) on a maximum £1,200. You can put in a lump sum, make regular deposits or just pay in cash when you can afford it. Your money is available from 1 December next year.

The Yorkshire Christmas Saver is on sale through Yorkshire branches and its offshoots Barnsley and Chelsea, but not Norwich & Peterborough, which became part of the group last week.
 
A £100 a month saving at 4 per cent for 12 months will end up as £1,226 while at 2.8 per cent the sum is £1,218.20.