Barclays offers highest ever rate for Regular Saver account

Barclays today increases the interest rate on its Regular Saver account by 25 per cent.

The new rate of 12.5 per cent gross /AER interest will be paid on all accounts opened between 2nd Jan and 28th February. This rate will be fixed for 12 months and customers can save a maximum of £3,000 by making regular deposits of between £25 and £250 a month into the account.

Andrew Jones, Barclays Product Director said: “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 Regular Saver account is available to both new and existing customers and they can vary the amounts they pay into the account each month. Other than the minimum and maximum limits on monthly contributions, the only other pre-condition is that the customer pays a minimum of £1,000 into a Barclays current account each month via a mandated salary or pension credit. As this is such an attractive offer, only one Barclays Regular Saver can be opened per person.

Monthly Saving and Gross Interest Earned for Barclays Regular Saver:

Monthly investment £100; Total investment £1,200; Gross interest earned in 12 months £81.58;

Monthly investment £150; Total investment £1,800; Gross interest earned in 12 months £122.36;

Monthly investment £250; Total investment £3,000; Gross interest earned in 12 months £203.94;

Barclays Regular Saver and Competitor Rates:

Barclays – AER/gross pa 12.5 per cent

Alliance and Leicester - AER/gross pa 12 per cent

Lloyds TSB – AER/gross pa 8 per cent

Halifax – AER/gross pa 7 per cent