Nationwide Building Society has unveiled a new savings account aimed at the younger generation that has earned a place among the market-leaders.
FlexOne Regular Saver pays a highly competitive rate of 3.50% per annum.
This deal is available to savers aged 11 to 17 inclusive and can then be held until the account holder turns 23. To qualify, the saver must have a FlexOne current account.
The account can be operated in branch and online with an initial investment of just £1. Monthly deposits of up to £100 can be made and the payment amount can be changed at any time. Unlimited, no notice withdrawals are also permitted.
This account is a great savings vehicle for younger savers, offering an attractive rate of interest and the option to access funds at any time without penalty. The ability to change the monthly payments is also a plus, and should help encourage the savings habit.
Four Moneyfacts Stars have been awarded.
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