New savings accounts at Barclays
Wednesday, 27 Feb 2008 11:57
Barclays is opening two new savings accounts, the Active Savings and Nest-egg Savings accounts.
The instant access Active Savings product offers a flat interest rate of four per cent AER (3.93 per cent gross) – including a 0.75 per cent bonus in the first 12 months.
It is designed as a step away from a current account – with access to funds via cash machines – designed to encourage people to save, who had not previously.
The Nest-egg Savings account is aimed at more serious savers and has a rate of 4.25 per cent AER (4.17 per cent gross) on balances over £5,000 – including a 0.75 per cent bonus for the first year.
Access to cash is instant, but results in a lower rate for the month a withdrawal is made.
The two accounts replace the Day-to-Day Savings and Savings Builder accounts.