The Nottingham launches 5% regular saver

The Nottingham has launched a new fixed-rate savings account aimed at customers who want to save “little and often”.

The Fixed-Rate Regular Saver pays interest at 5%, and can be opened with a minimum deposit of £10.

Savers can set aside up to £100 per month into the account, and are not penalised for missing a payment. They can also make as many deposits as they like, provided they do not exceed the £100 monthly limit.

The 5% interest rate on the account is guaranteed until February 2011.

Clare Roberts, spokesperson for the Nottingham, said the account is designed to encourage consumers to kick start a savings habit.

“By giving up something as simple as their daily cappuccino costing £2.20, consumers could start building up money to buy something they have always wanted or just to save up for a rainy day,” she said.

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