6% savings account... recession beater !! Norwich & Peterborough BS
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6% savings account... recession beater !! Norwich & Peterborough BS

6
Found 27th Feb 2009
When interest rates are so low, it's hard to find somewhere that pays anything like a respectable rate.
These are doing a regular saver account, 3% fixed for 1 year, plus a 3% bonus (as long as you make no more than one withdrawal). Wopping 6% gross ! After a year, rate switches to variable but 3% bonus remains.... sounds like a good deal to me.
Max you can put in is £250 a month, but the amount you commit to is not fixed.
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Our range is designed for families with dependent children up to 16 years old (or 18 if they are in full-time education).
Original Poster
csiman;4506043

Our range is designed for families with dependent children up to 16 years … Our range is designed for families with dependent children up to 16 years old (or 18 if they are in full-time education).



Oops, yes, meant to mention that bit... should still prove useful to many (assuming they have any spare dosh to save !!)
A good interest rate but a real shame that you can only deposit £3000 a year, Personally i opened a halifax fixed rate of 5% (for a year) & i can deposit £6000 a year in that account (£500 a month which results in £227 interest a year).
Good one to pay the child benefit into maybe?
Any limit on the number of accounts per person/household ?
adsldave;4506556

A good interest rate but a real shame that you can only deposit £3000 a … A good interest rate but a real shame that you can only deposit £3000 a year, Personally i opened a halifax fixed rate of 5% (for a year) & i can deposit £6000 a year in that account (£500 a month which results in £227 interest a year).


Not sure how you came to this interest figure, see info below copied directly from the Halifax website on this fixed term saving account:

For example - save £500 every month and earn £161.92 gross (£129.53 net) interest after 12 months

Better than most saving rates though but not as good as I first throught.

halifax.co.uk/sav…asp
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