Plan ahead and spread the cost

Britannia Building Society has launched a brand new online and telephone savings account - DirectSaver Reserve with a rate of 6.25% gross.

DirectSaver Reserve is for those who are planning ahead and looking to save to achieve a long term goal - whether it's planning for a new baby, a 2009 wedding or even next year's summer holiday.

Tim Franklin, Managing Director of Member Business, said: "We all have big purchases to pay for at some point in our lives and many people underestimate how much they will cost. By planning ahead, and building up a savings reserve, people can spread this huge cost and reduce the financial shock."

Linked to a customer's current account, DirectSaver Reserve allows savers to transfer money in and out by telephone, the internet or post. The account is limited to twelve withdrawals each year to encourage people to build up a reserve and reduce the temptation of dipping in to their savings.

For more information, visit britannia.co.uk