Britons who wish to put cash aside for a rainy day now have a new option to examine as The Royal Bank of Scotland has announced details of a new savings plan .
The savings option, which is operated via the telephone and comes in a tiered structure dependent on the amount saved, also includes a bonus feature that the bank hopes is "enticing" to customers.
All savings accounts opened before November 30th 2007 will include the bonus, which is an addition one per cent interest for six months. This brings the total annual equivalent rate of interest to 5.75 per cent for savers with more than £50,000.
However, those with smaller savings will receive a lower rate of interest, with 5.25 per cent available for Britons stashing between £10,000 and £50,000. Britons with less than £10,000 will receive five per cent on their savings.
"The savings account offers customers the convenience of instant access to their cash and competitive tiered rates of interest, with a top rate of 6.25 per cent gross including the bonus," said the bank.
In addition to savings, the bank also offers mortgages .
New savings option from The Royal Bank of Scotland
New savings option from The Royal Bank of Scotland
Mon, 08 Oct 2007
Recommended links
UK savings portalSavings enquiry form
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UK mortgage portal
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