Midshires cuts postal rates

BIRMINGHAM Midshires has reduced the rates on its First Class Instant Access postal account, but it remains very competitive.

On pounds 500 it pays 6.4 per cent gross, on pounds 10,000 it offers 6.85 per cent, on pounds 50,000 there is 7 per cent and on pounds 100,000 you get 7.35 per cent.

Hinckley & Rugby has a 90- day loss of interest penalty for transfers. Lambeth has no penalty and offers a gross rate of 7.4 per cent on minimum investments of pounds 20.

London & Manchester, M&G, Templeton Life and Consolidated Life all offer 6 per cent on pounds 2,000 five-year guaranteed income bonds.