Tuesday 2nd January 2007
Barclays bank has announced it is offering its highest ever savings account interest rate.
All Regular Saver accounts opened before February 28th 2007 are to receive a rate of 12.5 per cent AER, according to Barclays.
Interest will be paid on one deposit of between £25 and £250, with no further deposits permitted until the following month.
The savings account is intended to allow customers to save up a lump sum and allows withdrawal only at the end of the 12-month period.
Andrew Jones, product director at Barclays, said: "These accounts have become hugely popular in recent years as the high rate of interest encourages people."
"Many people will find they have accumulated enough to pay for a family holiday," he added.
Conditions of the account include that the holder should pay at least £1,000 each month into a Barclays current account.
Standing orders may be set up from this current account to cover the regular deposit into the Regular Saver savings account.
Barclays operates the Barclaycard, which it says was introduced 40 years ago as the UKs first credit card.
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