26 November 2010
Saffron Building Society launches new Christmas Regular Saver account
Saffron Building Society, the regional building society serving East Anglia, today announces the launch of a new, limited edition, Christmas Regular Saver account, providing savers with the equivalent of a 14.49% rate of interest.
The Saffron Christmas Regular Saver is designed to reduce the pain of paying for Christmas, by encouraging savers to put away a small sum of money each month towards next year's festivities. Savers commit to paying £50 into the account for 11 months and at the end of the term their savings are converted into £550 worth of Love2Shop vouchers which Saffron will boost with an extra £40*. The vouchers must be picked up from a Saffron branch, and can be spent in a wide range of high street stores and on the internet. Visit www.love2reward.co.uk for a full list of participating retailers.
The account is strictly limited to the first 1000 applicants and can be opened in one of Saffron's branches, or by calling Saffron on 0800 072 1100.
John Eastgate, Sales and Marketing Director at Saffron Building Society, said: "Funding Christmas can often be a real drain on people's finances. With the publication of recent statistics suggesting that two millions Britons are still paying for last Christmas, it's clear that many families would benefit from the incentive to start saving earlier. It's our hope that £590 of shopping vouchers will help people to plan for next Christmas and take the strain off customers' pockets at a time when many traditionally feel the pinch".
* Terms and conditions of the Christmas Regular Saver
- Limited to first 1000 accounts only
- The withdrawal will be made at the end of the 11 months, and the balance will be paid only in Love2Shop vouchers
- There is no interest rate - just the bonus vouchers. However, if there was an interest rate, it would be equivalent of 14.49%
- The account can be opened in branch or by calling Saffron on 0800 072 1100
- Saffron will contact savers after their 11th payment inviting them to come in / withdraw their balance and reward
- The withdrawal will be made at the end of the 11 months, and the balance will be paid only in vouchers
- Anyone wishing to withdraw their money before the end of the term will be required to close their account. The account deposit will be withdrawn in full in cash. The account will not be entitled to the £40 additional Love2Shop vouchers
- Vouchers can only be claimed in a Saffron Building Society branch and will not be sent by post
**This is a limited offer and Saffron Building Society reserves the right to withdraw product offers.
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