One of Bristol & West's popular savings accounts, the Step by Step savings account, would be relaunched by the savings accounts provider on Tuesday June 21st.
A range of new interest rates and additional benefits would be available to new and existing banking customers.
Step by Step savings account, a tiered interest rate savings account, rewards savers with enhanced interest rates. These interest rates are based on the frequency of deposits made into the savings account.
Before, savers have only been allowed to hold one savings account. After the relaunch of the savings account however, an individual would be able to hold unlimited savings accounts.
Banking customers would be eligible for an interest rate of up to 5.20 per cent gross for annual income on an investment of £25,000 in their savings account. A fixed interest rate of 5.08 per cent applies for a monthly income on the savings account.
"The Step by Step savings account offers a great rate to customers with the security of a fixed rate and access to the funds if needed," commented Nick Pagon, senior product manager at Bristol & West.
The Step by Step savings account is available through Bristol & West's branch network and Direct Savings.
Bristol & West to relaunch savings account with better interest rates
Bristol & West to relaunch savings account with better interest rates
Thu, 16 Jun 2005
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