Paying 4.25% AER, the Barclays Monthly Savings Account offers the best return available on a regular saver that isn't part of an 'existing customer only' deal.
Product Details
Barclays - Monthly Savings Account
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What's the deal?
The Barclays Monthly Savings Account allows you to save up to £3,000 in monthly instalments of £20 to £250 over the course of a year.
It pays a fixed monthly rate of 4.25% AER that's guaranteed for the duration of the term. However, unlike many other regular savers it also enables you to make withdrawals during this time; although a lower rate of 3.03% AER is paid in any month a withdrawal is made.
The account is available to both new and existing customers, can be managed online, in branch and over the phone and automatically switches to an instant access savings account after the 12 month term comes to an end.
What makes it great?
The 4.25% AER you'll earn on your savings with the Barclays Monthly Saver is the best rate available on a regular savings account that isn't part of an existing customer only deal, making it accessible to everyone.
What's more, while regular savings accounts are renowned for their rigid terms, this account is surprisingly flexible - giving you access to your money if you need it, albeit at a slightly reduced rate. That said, the 3.03% AER rate applied to your savings during any month you make a withdrawal isn't actually that much lower than the best rate currently paid on an instant access savings account so you're not losing out too much.
What's the catch?
You will need to be able to commit to saving between £20 and £250 a month for the next 12 months in order to be eligible for this account and these payments will need to be made via standing order.
Additionally, it's likely that you will need to move your money when the 12 month fixed rate period ends and the account becomes an instant saver so as to ensure that your savings continue to attract a decent return.
We have done our very best to make sure that the information included in this Deal is accurate. However, sometimes offers can be withdrawn or changed at the last minute so please do check that you're able to redeem this Deal before parting with any money, or going out of your way to take advantage of the offer.
