Norwich and Peterborough Building Society has unveiled a new top-end interest rate for people who regularly contribute significant sums of money into their current account .
The new 4.5 per cent gross interest rate for the Gold Current Account is applicable on balances up to £5,000 for all customers who pay in £1,500 or more each month - such as those people who have their salary automatically transferred into their accounts .
Customers must also agree to only view their balance online instead of on paper.
To put this figure into context, the building society claims that it is 45 times greater than the standard interest rate on comparable current accounts offered by the big four banks .
"We wanted to give an even better rate to customers who credit more to their accounts each month and save cost and the environment by viewing their statements online instead of having paper statements," explained Andrew Clare, head of banking at the building society.
In related news, this week saw Bank of Scotland offer an instant access savings account with an annual gross interest rate of five per cent.
Building society launches 4.5 per cent gross interest rate for current account
Financial Services > e-banking > Banking news
Building society launches 4.5 per cent gross interest rate for current account
Wed, 03 Jan 2007
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