Sleep Easy account offers a ‘best buy’ rate

From today UK savers will be able to take advantage of the ‘best buy' rate being offered by the Sleep Easy Saver account.

The account - which offers customers instant access to their money via a telephone - is available from The Nottingham - one of the UK's leading regional building societies.

It currently offers a headline rate of 6.50%. This includes the payment of an additional 1%, each year, to those depositors who make six withdrawals or less in each interest year.

Key features include:

A guaranteed interest rate of at least the Bank of England Base Rate plus 0.5% until October 2010
The ability to make unlimited withdrawals - depositors can make six withdrawals in each interest year and still be eligible for the bonus payment

"With its attractive headline rate, customer friendly terms and the fact that we are a secure institution we believe that this account will prove extremely popular," commented Clare Roberts, savings product manager.

An initial deposit of £1,000 is required by individuals who wish to open a Sleep Easy Saver account. However, once opened additional deposits of up to £250,000 can be made.

A typical individual investing £35,000 in a Sleep Easy Saver and making no more than six withdrawals will earn £2,275 a year. A typical couple depositing the £70,000 in the account (and making no more than six withdrawals) will realise a total of £4,550 on their investment during the first year.

The Sleep Easy Saver is a limited edition account, therefore only one account is available per person or per couple.

To find out more information about the account, and access an application form, please visit thenottingham.com