Financial Services > Savings > Savings and Investments News
NatWest and RBS launches new savings accounts

Wed, 04 Feb 2009

NatWest and RBS has launched two new savings accounts for the "more mature" saver.

Both savings accounts offer interest rates of at least 1.25 per cent above the Bank of England base rate .

The savings products are the Pensioner Fixed Rate Account and the Telephone Saver Plus.

Available to those aged over 60, the former has an interest rate of four per cent while the latter, on offer to those above 50, pays 2.8 per cent.

Carol Sleith, head of savings at the bank, said: "By introducing two new accounts, we are able to further meet the savings needs of our customers and offer a choice of ways to save."

Many people over the age of 50 rely on their savings for their monthly income, she added.

Yesterday, Adrian Coles, director-general of the Building Societies Association, warned that falling interest rates are making it harder for many pensioners to get by, reducing their income by around 75 per cent in some cases.
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