A Regular Saver Account, offering a variable interest rate of 6.35% gross p.a./AER, has been launched by Teachers Building Society. The interest rate includes a bonus of 1% for the first twelve months.
The account requires a minimum monthly investment of £10, to be paid by standing order, and allows one withdrawal per year without penalty. The maximum monthly investment is £250. Account holders who subsequently take out a mortgage with the Society will receive £100 cash back.
Marketing Manager Mike Hislop says “We know that many people are finding it hard to get a foot on the property ladder in the current climate, so the Regular Saver Account is designed to encourage people to put by what they can so they have something in reserve, perhaps for a deposit on a property. If savers then look to us for a mortgage, we’ll reward them with £100 cash back.”
Teachers Building Society was founded over forty years ago by the National Union of Teachers and the Society remains committed to providing mortgages for teachers and education professionals, with its savings products available to everyone.
