Norwich and Peterborough launches new savings accounts

Two new savings accounts have been launched by Norwich and Peterborough Building Society (N&P), providing options to manage money either online or by post.

Online option E-Saver gives a 6.3 per cent gross interest rate for the first year before reverting to a variable rate of 4.75 per cent, while the postal version also starts with a 6.3 per cent rate but drops to 5.3 per cent in year two.

Group product manager Gary Lacey said: “At a time when the market is at its most appealing to savers, people with some cash to put in savings should make the most of the great rates currently available.”

The products will be available to new and existing customers but must be opened with money transferred from an account not held with the building society.

Nationwide announced today that only 26 per cent of people currently believe saving is important.

© Adfero Ltd

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