A new Natwest Bank savings account has been launched that is designed for first time buyers looking to put money away for a house deposit.
Called the First Home Saver Account this new Natwest Bank account gives a massive GBP5,000 cashback upon completing a Natwest Bank mortgage. The proviso is that the customer must have had the account and kept at least the minimum balance in each specified tier for six months.
The account pays interest up to 3.1 percent AER and needs just GBP100 to open. Of course it is the cashback offer that will be the biggest draw for potential Natwest Bank savings account customers since it is a large sum of money, especially for first time buyers.
Find the best rates on Natwest Bank Savings Accounts.
Lloyds TSB will be striving to reunite around GBP69 million with its owners, spread over 120,000 savings accounts that are laying dormant.
The bank will be working on accounts with more than GBP100 in them and will be using a specialist search company to locate the account holders and reacquaint them with their funds. The average amount per person will be in the region of GBP575 so it is a very worthwhile exercise and one that the recipients of the money are sure to appreciate said a Lloyds TSB spokesman.
These accounts appear to have been forgotten by their owners, hence the use of the search company. Lloyds TSB would not mind account holders getting in touch with them directly though, so if you think you have a dormant Lloyds TSB savings account get in touch with them and see if there is a windfall waiting for you.
The Abbey National is making a one year fixed rate bond available for a limited period, with an interest rate of 6.75 percent.
To earn this high rate the bond needs an investment of at least GBP30,000, though anything from GBP1 upwards to that figure will still return a very attractive 6.35 percent. The Abbey National investment bond is on limited availability, with a window of less than a month to get money into it. Starting on August 4 the offer closes at the end of August.
The market really likes fixed rate savings bonds said an Abbey National spokesperson, hence their introduction of this particular one now. Anyone interested is advised to act quickly to ensure availability.
