N&P launches E-Saver account
23.12.2008
Norwich and Peterborough (N&) Building Society has announced plans to launch a second issue of its E-Saver savings account.
The account, which can be opened with a £1 deposit, permits a maximum investment of £1 million.
It offers a gross interest rate of 3.25 per cent and is even available to children from the age of 16 and up.
Commenting on the launch, savings product manager at the building society Gary Lacey said: "We saw a great take-up of the first issue of E-Saver and expect the second issue to be popular too. This account is very simple to open and operate online."
The savings account, however, can only be operated online, which may in fact be a bonus to today's more technology-inclined market.
Meanwhile, it has recently been claimed that interest rate policy makers are trying to make saving as unattractive as possible to encourage the UK to spend its way out of recession.
This came from Capital Economics, which added that fewer contributions to savings accounts will actually have a better effect on the economy.
The account, which can be opened with a £1 deposit, permits a maximum investment of £1 million.
It offers a gross interest rate of 3.25 per cent and is even available to children from the age of 16 and up.
Commenting on the launch, savings product manager at the building society Gary Lacey said: "We saw a great take-up of the first issue of E-Saver and expect the second issue to be popular too. This account is very simple to open and operate online."
The savings account, however, can only be operated online, which may in fact be a bonus to today's more technology-inclined market.
Meanwhile, it has recently been claimed that interest rate policy makers are trying to make saving as unattractive as possible to encourage the UK to spend its way out of recession.
This came from Capital Economics, which added that fewer contributions to savings accounts will actually have a better effect on the economy.