Barclays have become the leaders in the Saving Account war this week by announcing it’s increasing the interest it pays on its linked Regular Savers Account to a staggering 12.5%. This amazing rate is open to new customers who open an account by the end of Febuary.

Whilst this is an amazing rate their are various conditions set by Barclays that you must stick to be paid the 12.5% You must also open a Regular Saver Account with Barclays, into which you pay your salary of at least £1000 per month. You can deposit anything from £25 to £250 each month into your linked Savers Account, this figure can be altered from month to month. And no withdrawls or deposits over £250 a month are allowerd; If any of these conditions are breached you will not be paid the 12.5% rate.

If you know you have a spare bit of cash sitting about for the next 12 months that you won’t be needing this is a great investment; If you deposit the maximum of £250 per month for 12 months you will end up earning £203.94 in interest before tax after the 12 months. http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=homefreegroup&value=9234