Scarborough increases the rate of interest on Click and Save Issue 2

Scarborough Building Society has built on the success of its popular Click and Save still further by increasing the rate of interest on Issue 2 to 5.80% just days after launch.

The easy access account, which can be opened with balances of £1,000-plus, is available from this week, and originally offered a rate of 5.70%.

However, the additional 0.10% has been added to make the account stand out even more in today’s highly competitive savings marketplace.

Click and Save 2 is available for a limited period and applying couldn’t be simpler.

Customers wishing to take advantage of its outstanding features can complete an online application form via the Society’s website at scarboroughbs.co.uk, and then print and post it off with a cheque for their opening deposit. After opening, customers can operate the account by using Scarborough’s efficient telephone and postal service.

And, what’s more, the new account offers protection against current interest rate uncertainties, by guaranteeing this great rate until 31 May, 2008.

Head of Group Marketing, Tony Burdin, said: ‘We were overwhelmed with demand for the first issue of this account, which sold out very quickly, which is why we responded with a second issue at 5.70%.

‘However, one of our strengths at Scarborough is responding rapidly to the fluctuations of the savings marketplace, and we decided to go that one step further to ensure Click & Save 2 grasped a market-leading position, and reward our potential customers even more.

‘This latest limited issue account is designed to be simple and rewarding. By giving customers the self-service option for opening a Click and Save Issue 2, we are continuing to minimise administration and, therefore, making the application process more convenient.

‘This means we can pass on our savings to them in the form of a great rate, coupled with the added benefit of easy access to their cash with no penalties.

‘This is all part of Scarborough’s promise to offer straightforward, long term good value, backed by excellent customer service.’