Rate rises on Barclays Regular Saver account

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Rate rises on Barclays Regular Saver account

Barclays Regular Saver account is to see an increase in its interest rate of 25 per cent which represents the highest rate that the bank has ever offered for this account.

The new rate - which comes into effect for all accounts opened between January 2nd and February 28th - will be 12.5 per cent gross/AER and is fixed for a year.

A maximum of £3,000 can be saved by Barclays Regular Saver account holders should they save £250 per month and this will return £203.94 gross interest over a 12 hyphen month period.

Andrew Jones, Barclays product director, stated: "This is our best ever rate and is a fantastic new year deal for our customers. These accounts have become hugely popular in recent years as the high rate of interest encourages people to get into a regular savings habit.

"By the end of the one-year term many people will find they have accumulated enough to pay for a family holiday or another major expense."

Barclays specifies that 12 deposits must be made throughout the term of the account and customers are given the opportunity to alter their monthly payment they make so long as it remains between £25 and £250.

The bank offers a range of savings accounts and invites customers to fill out a savings chooser form on its website so that an appropriate account can be opened.

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