Special offer introduced on Royal Bank of Scotland First Home Saver account.

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Special offer introduced on Royal Bank of Scotland First Home Saver account.

Customers who open a Royal Bank of Scotland Home Saver account or Instant Savings Tracker between March 20th and May 15th will be offered a one per cent bonus on the interest rate they receive.

The offer rate will be available for three months on all new accounts opened with a deposit of £500. The rate that savers are offered will depend on their balance.

Customers with savings of £500 will receive a gross interest rate, including the bonus, of three per cent. This moves up in relation to the balance, reaching a maximum level of 4.5 per cent for balances of £50,000.

Darrel Evans, product director of RBS marketing, described the accounts as "a great choice for anyone who doesn’t want to tie their money up but wants to earn a competitive rate of interest".

The Royal Bank of Scotland Home Saver account also offers a tax-free cashback option, intended to encourage customers to save up for a deposit on a home or to buy household items when they have moved in.

Customers can receive a cashback amount of between £20 and £360 for savings levels ranging from £2,500 and under up to £15,000 respectively, which will be paid upon completion of an RBS mortgage.

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