Bradford & Bingley is introducing a new
The account, dubbed ‘Rate for Life’, will have an interest rate of at least 0.25 per cent above the base rate for its duration, according to the bank.
It launches with a variable rate of 5.25 per cent gross per annum.
Three versions of the account, which Bradford & Bingley claimed is “the first of [its] kind”, allow customers to bank online, by post or in their branch, with a minimum opening balance of £1,000 for each.
Earlier this month the Halifax launched what it claimed to be the market leading
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