New savings products from The Loughborough
Back to News & ViewsThe Loughborough Building Society has launched two new savings products designed to appeal to savers who feel they are not getting a big enough return on their money.
The first of these, the Monthly Saver 2, is a regular saver product, with a 4% gross/ AER variable rate. Savers can put away up to £200 per month, up to £2,400 per annum and has a 2 year term.
The Monthly Income 90 is the second new account, a 90-day notice account, with a rate of 2.75% gross variable. Savers can invest from £10,000 to £100,000 to provide monthly income direct to their bank or other savings account.
Gary Brebner, Chief Executive of The Loughborough Building Society, said: “The aim of these new schemes is to appeal to and encourage new members to open and move money from low paying instant access accounts into higher payer accounts.
”Both products came about as part of our continuous review of what we offer to our savers and borrowers.
“As interest rates are likely to remain flat for the foreseeable future and inflation eats into the real value of consumers’ money, many savers are becoming more prudent as to where they look to invest their money, to make their money work harder for them.
“In addition to the rates on offer, we treat our members as individuals and they always know which staff member they are dealing with.”
Both products are available nationally.