Norwich & Peterborough Building Society (N&P) has launched a savings account offering a return of 2.35 per cent gross/ AER.
The Branch Notice Saver is a 90 day notice account and is available from any branch of the mutual.
The account can be opened by adults or children with £1 upwards, with a maximum investment level of £1 million. Once up and running the saver can be managed in branch, by post, telephone and online.
If withdrawals are made without 90 days’ notice savers will lose the equivalent of 90 days of interest on the amount withdrawn.
Interest can be paid annually or monthly.
Savings product manager Gary Lacey said: “We wanted to create a simple savings product which can be opened with just £1 and where our customers make the most of a competitive rate, as well as being able to access their money should they need to.”
N&P, which has 46 branches, merged with the Yorkshire Building Society in November.