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.
The Abbey National has just issued a new range of investment bonds, catering for children, the over fiftys and those seeking a safe, fixed rate home for their money.
The Abbey National childrens savings bond is valid for those under 18 and offers a guaranteed 5.3 percent interest rate gross per annum, with an investment period of four years. Meanwhile, at the other end of the age scale, the over 50s will pay interest either annually or monthly to best suit investor circumstances, at a rate of 5.3 percent annual or 5.18 percent monthly.
Finally, the fixed rate bond from the Abbey National is available as a one, two or three year product. Assuming an investment amount of less than GBP50,000 the gross returns are 5.7, 5.2 and 5.1 percent respectively. For the one year bond an investment of GBP50,000 or more would provide a 6 percent return.
A new international bond has been introduced by the Alliance and Leicester which is a limited edition fixed interest rate for one year.
Investors can sign up for the bond from now and, with a minimum investment requirement of GBP50,000, enjoy an interest rate of 6.65 percent gross if taking the interest payment at the end of the year or 6.45 percent should interest be paid monthly. The Alliance and Leicester fixed rate bond is available to both new and existing customers as long as funding does not come from money already held by Alliance and Leicester.
An Alliance and Leicester spokesman, when discussing the new bond at its launch said that they always endeavoured to offer the best interest rate they could and this particular bond should be very popular in what is a highly competitive market.
