Barclay's new regular savings account is paying 12.5 per cent gross, one of the highest rates available, on monthly deposits between £25 and £250. However, it is only available to people paying £1,000 or more a month into a Barclays' current account.
Despite the conditions, the regular saver is worth a second look, according to Stuart Glendinning of moneysupermarket.com: 'OK, it is linked to a current account, but it's still a hell of a rate.
In brief
Huma Qureshi
Sunday January 7, 2007
The Observer
Barclays ups the rate for regular savers
Barclay's new regular savings account is paying 12.5 per cent gross, one of the highest rates available, on monthly deposits between £25 and £250. However, it is only available to people paying £1,000 or more a month into a Barclays' current account.
Despite the conditions, the regular saver is worth a second look, according to Stuart Glendinning of moneysupermarket.com: 'OK, it is linked to a current account, but it's still a hell of a rate.
'Although many Barclays current account customers would benefit more in financial terms by shopping around, many people are not sufficiently motivated to change providers. If you bank with Barclays and know that you'll not get around to going to another bank, this is a savings account you should open.'
To benefit from the 12.5 per cent rate, customers will have to open a regular savings account before 28 February.
Source: Huma Qureshi, The Observer
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