Progressive BS has launched a new regular savings account that sits near the top of the variable rate tree.
The Clockwork Regular Saver is a variable rate regular savings account with a minimum monthly investment of £20 (maximum £250) paying 3.30% yearly.
Just one withdrawal is permitted per calendar year and no more than one monthly payment can be missed per calendar year. No extra monthly payments are permitted.
If the withdrawal or deposit conditions are not met, the rate will reduce to 0.01%.
The launch of the regular savings account expands the portfolio of Progressive BS and encourages consumers to start the savings habit. At 3.30%, it sits in the top three of variable rate regular savings accounts so should compete well.
Four out of five Moneyfacts stars have been awarded.
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