Dec 24 2008
Norwich and Peterborough Building Society (N&P) has launched a new version of its E-Saver Account, which may be good news for those saving for children.
Customers can open the account with £1 and can invest a maximum amount of £1 million, with interest paid at 3.25 per cent AER.
The interest will be paid annually on January 1st each year, allowing customers to enjoy a nice lump that will top up their savings.
"We saw a great take-up of the first issue of E-Saver and expect the second issue to be popular too," said Gary Lacey, savings product manager at N&P.
He added that the account is very simple to open and customers can manage it easily online, which means they can quickly transfer funds from one account to another - perhaps from their current account to an E-Saver set up for children.
According to research carried out by Alliance & Leicester, 28 per cent of British consumers have not managed to save at all this year.
