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> Bank and finance > What is a regular saver account ?
What is a regular saver account ?
Regular saver account: Invest your money on a short period with an interest rate attractive...
What is a regular saver account ?
Regular saver account is an efficient way to build up a nice sum of money. It runs for 12 months, however you can’t usually access your money during that time. Money deposited is subject to fixed interest rate of 2% to 8% on this period.
Regular saver account: very flexible !
You can Manage your account in branch, by phone or online. It’s possible to perform a standing order monthly of £20 to £300. So the ceiling is £3000. After 12 month if you want to stop it your money and any accrued interest are transferred to your current account.
All banks offer such products (Santander, Barclays Bank, Halifax...)
Last week, UK Asset Resolution Limited (UKAR), the "bad seed" of the bank Northern Rock, anounced the payment of 2,15 billions pounds to the british department of finance after the 1,1 billion pounds in 2010.
The bank still owes 46,6 billions pounds to the Treasury after the British state bought out Northern Rock in 2008 to save it from bankrupcy.
UKAR, which also holds the account of lowns of Bradford & Bingley made a 1,09 billion profit in 2011. The (...)
Northern Rock : 2 billions for the state from the "Bad Bank"
Northern Rock Building Society was formed in 1965 as a result of the merger of two North East Building Societies; the Northern Counties Permanent Building Society (established in 1850) and the Rock Building Society (established in 1865).
During the 30 years that followed, Northern Rock expanded by acquiring 53 smaller building societies, most notably the North of England Building Society in 1994.
The bank has conducted during the 2000s a policy of loan risk: much of its (...)
