Barclays has announced that it is increasing the savings rates for customers who decide to open a regular saver account.
Consumers who open savings accounts with the bank between January 2nd and February 28th 2007 will be able to take advantage of an annual equivalent rate of 12.5 per cent.
This marks a rise of 25 per cent on the previous offering for the savings account - and these new rates are also fixed for the next 12 months.
As a regular saving account, savers who join the scheme must agree to invest between £25 and £250 per month for the duration of the contract.
Consequently, it may prove popular among those people who made a new year's resolution to improve their money saving.
"This is our best ever rate and is a fantastic new year deal for our customers," remarked Andrew Jones, product director at Barclays.
"These accounts have become hugely popular in recent years as the high rate of interest encourages people to get into a regular savings habit."
At present, interest rates stand at five per cent, although some industry analysts have forecasted rises to the base rate during the coming months.
Barclays increases rate for regular savings account
Barclays increases rate for regular savings account
Tue, 02 Jan 2007
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