The Nottingham Fixed Rate Regular Saver paying 5 per cent

A new high interest-bearing savings account - catering for the needs of those looking to save ‘a little and often'- will be available from any branch of The Nottingham from Wednesday 20 January.

The Fixed Rate Regular Saver (issue 1) is backed by one of the UK's largest building societies. It offers a guaranteed interest rate of 5.00%, which is fixed until February 2011. This makes it one of the most competitive accounts of its kind on the high street.

It enables anyone over the age of 16 to build up a nest egg by setting aside regular savings - ideally every month.

An initial deposit of just £10 to open an account

A maximum of £100 can be paid into the account every month. However, account holders can miss as many monthly payments as they like without penalty

Account holders can make as many deposits as they want to each month - as long as they don't exceed the monthly maximum.

"Our Fixed Rate Regular Saver is an excellent savings account that we hope will help to kick start the savings habit for those that have been meaning to put some money away regularly. As well as providing flexibility it also offers a very attractive rate of interest, that's guaranteed, comments The Nottingham's Clare Roberts.

"By giving up something as simple as their daily cappuccino costing £2.20, many adults in our heartland of Nottinghamshire, Lincolnshire, Derbyshire and South Yorkshire could start building up money to buy something they have always wanted or just to save up for rainy day," added Clare Roberts.

This account is strictly limited issue, therefore only one account is available per person.

For more information visit your local branch of The Nottingham or thenottingham.com.