NatWest has announced the launch of a new savings option that will be available via the internet for web savvy customers.
The savings vehicle, which may appeal to those who prefer to interact with financial services providers online due to the convenience such services offer, will take the form of a new individuals savings account .
Available only to internet users, the new individual savings account provides an annual equivalent rate that NatWest guarantees will match the Bank of England's base rate for a period no shorter than to July 2009.
According to the bank, the rate of interest makes this the web-based individual savings account with the longest base rate guarantee currently available on the market. Furthermore, customers can open the savings vehicle with a £1 stake.
Elaine Hartley, head of retail savings and investments at NatWest, commented: "This e-ISA [individuals savings account] compliments our existing range of branch and internet-based savings accounts, offering a highly competitive interest rate with the reassurance of a market-leading Bank of England base rate guarantee."
However those looking for base rate savings trackers may wish to note that the Bank of England held rates at 5.75 per cent yesterday.
New web savings option from NatWest
New web savings option from NatWest
Fri, 05 Oct 2007
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