The Royal Bank of Scotland has launched a tiered interest rate savings account with rates up up to 5...
The Royal Bank of Scotland has launched a tiered interest rate savings account with rates up up to 5.2% and, as well as a 1% bonus each year, there are no withdrawals
Bonus 90 savers are also guaranteed long-term rates through the group's Ratewatch programme. The Ratewatch guarantee also applies to the bank's instant access, 30-Day and 60-Day Notice accounts
On the 12th day of each month, until January 2001, the bank will calculate average rates paid on comparable accounts with Halifax, Abbey National, Nationwide and Woolwich
Duncan McKay, head of savings at The Royal Bank of Scotland, said: "With interest rates still generally at low levels, customers are more prepared to tie up their funds for a longer period in exchange for higher returns
"Bonus 90 rewards longer term customers by combining tiered interest rates, offering a 1% annual bonus for no withdrawals and guaranteeing competitive rates through Rate- watch
The RBS 90-Day Savings account features an interest rate of 3.60% on amounts up to £5,000 and 4.05% between £5,000 and £10,000
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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