Savers can now get an easy entry rate of 4.9 per cent best buy from a little-known mutual.

Furness Building Society has launched a new dual access savings account. Savers who opened an account with it would earn £490 interest on a £10,000 deposit for a year.

The previous best-access, easy-access account on This is Money’s independent best-buy tables pays 4.86 percent, meaning Furness’s new rate propels it to the top of the best-buy tables .

Unusually for a building society, Furness has also launched an app, and the new easy-access account is available to open on it.

Furness Building Society has launched an easy access best buy account paying 4.9% and has also launched a new app

The account is available to new and existing members and can be opened with a minimum of £1 and a maximum of £250,000 for an individual account and £500,000 for a joint account.

Up to £85,000 is protected by the Financial Services Compensation Scheme (FSCS) or up to £170,000 in the case of joint accounts.

However, it is not strictly an easy-access account, as savers can only make two withdrawals over the course of 12 months.

If more than two withdrawals are made within a 12-month period, Furness will transfer your account to an access account that pays a lower rate of 2.5 percent.

Furness’ new app, ‘Furness Savings’, can be downloaded via the App Store, Google Play Store and online.

An in-app messaging service is also available that allows customers to communicate with the customer service team.

For those who do not want to download an app, the account can be opened the traditional way by calling a Furness branch, over the phone or online.

Furness has nine branches in the North West, including Barrow-in-Furness, Lancaster and Preston.

For savers looking for easy access without withdrawal restrictions or penalties, Chetwood Bank offers 4.86 percent.

Chip offers 5 percent on its easy access account, but this includes a 0.93 percent bonus for the first 12 months. It also only allows three penalty-free withdrawals every 12 months.

Larry Chan, head of savings strategy at Furness Building Society, said: ‘Our new app is a means for us to bring our renowned levels of customer service, built through generations of Furness experience, to a digital audience.

‘Maintaining our commitment to maintaining face-to-face banking, our Double Savings Access will also be available in our branches. Our app is designed to complement our in-branch services, giving our customers the freedom to manage their money however they want.’

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