Barclays introduces its new accounts and services

[img_assist|nid=7753|title=|desc=|link=none|align=left|width=100|height=100]Next week Barclays is going to launch Monthly Savings, a new, leading savings account, with fixed 7.75% AER (7.49% gross p.a.).

With the new account customers will pay an amount ranging from £20 to £250 per month that in a year will be only £3000. In a year the balance will automatically switch to a savings account with instant access paying a competitive rate of interest.

But it is not the only serviced to be launched. So, on June 2, 2008 the bank will launch e-savings Reward, a new online savings account, to pay a flat 5.25% AER (5.13% Gross p.a.). This amount also includes a year-bonus of 0.75% gross, and after the introductory bonus period, the higher gross rate payable on the account is guaranteed to be not less than 0.50% below the Barclays Bank Base Rate until 1st January 2010.

The Monthly Savings product is simple and open to new and existing Barclays customers. Customers are not required to open or maintain any additional products with Barclays, and they have flexibility to miss or change a payment. Customers have the flexibility to withdraw money, with interest rates reducing to 3.03% AER/2.99% gross p.a. in any month in which a withdrawal is made.

 "This is the most competitive climate for savings accounts that we've seen in years, and that's good news for the consumer," said Lee Chiswell, Barclays Head of Savings.

"The Monthly Savings account pays a great, high rate of interest on savings, the best that Barclays offers to its personal customers, and is open to new and existing customers.

"The new Monthly Savings account follows the trend of our Tax Haven ISA, which has been a regular feature in the best buy tables since we launched it in March. We want Barclays to be the first bank to come to mind when people think seriously about saving."