Barclays is launching a market leading
10 percent Regular Saver
account, whilst completely revamping its savings range to
make it simpler. It is the latest move from Barclays in its
campaign to deliver good value for money products to attract new
customers. The account is simple and easy to apply
for online with a typical application taking around 10 minutes.
The new
">http://www.barclays.co.uk/10"> High Interest
Savings Account will pay out 10 percent gross/AER interest
on savings between £25 and £250 per month for one year after the
account is opened (it will be marketed from February 16th 2006
until April 26th 2006). It will be available to both new and
existing customers, with the single pre-condition that the
customer pays a minimum of £1000 into a Barclays current account
each month via a mandated salary or pension credit.
Bruce Kelsall, Barclays Retail Banking Commercial Director,
said: "The improvement and simplification of our savings range
and the 10 percent Regular Saver Account demonstrates Barclays
determination to give its existing customers value for money
products and attract new customers." "Together with
our recent launch of a best in market
general
insurance proposition and the 0 percent overdraft switcher
offer we believe this shows we are serious about offering
consumers the best products and service. We will be launching
new products across current accounts, savings and mortgages
during the course of 2006 to attract more customers to Barclays
and retain those already with us." At the same time
Barclays is simplifying and improving its existing savings range
with the launch of two new products and an interest rate
increase for younger savers. All of the new accounts can be
operated through Barclays branches or via telephone or internet
banking: -- Instant Access - New 'Easy Saver' will
pay 3 per cent AER on any investment over £1 with no loss of
interest if you withdraw. This offers a better rate of the
equivalent Halifax, Nationwide, Natwest, Lloyds TSB and HSBC
accounts***. In addition, the E savings account is being
retained and will continue to pay from 4.14 per cent up to 4.43
per cent AER for balances between £1 and £100k+. --
Starting to build savings - New 'Bonus Saver', will pay from 3.6
per cent AER on £5,000 savings up to 4.11 per cent AER on
£100,000, this includes an equivalent annual bonus of 1.5 per
cent which is paid each month provided that no withdrawals are
made in the month. -- Short term lock-away - New
'Regular Saver' pays 10 per cent interest over a one year term
on monthly investments up to a maximum of £250. Money must be
left for one year without withdrawal. After one year the balance
will be automatically transferred to an Easy Saver account or
customers can invest in Barclays Cash ISA which pays up to 5 per
cent tax-free. -- Savings for children - Introduction
of a new competitive rate of 4.07 per cent AER, up from 2.52 per
cent AER, on balances between £1-£50 in Barclays 'Childrens
Savings' account. For further information:
http://www.barclays.co.uk/10 Emma Austin (née Keens)
PR Manager, Barclays Corporate Affairs Office +44 (0)207
116 6145 One Churchill Place, London E14 5HP
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