Norwich and Peterborough Building Society (N&P) believes that families with dependent children are poorly served by the savings industry as there are very few accounts designed to meet their specific needs. N&P’s family savings accounts are designed to help families make their money work as hard as possible and encourage them to put money aside to meet the rising costs of raising a family.
The range comprises of Family Easy Access Account – for day-to-day savings, where parents want to put money aside whenever they can and have access at any time; Family Regular Saver Account – for parents who want to save a small amount each month to build up a savings pot and don’t require frequent access to the money and Family Young Saver Account – for young people up to the age of 18 who want to open and operate an account in their own name or for relatives or guardians to save on behalf of the child.
Finally N&P is also offering a Family Five Year Bond – available to anyone with one or more of the other family savings accounts who wants to invest their money for a longer period of time. The range allows families to pick and choose the best accounts for their savings requirements.
Rachel Thrussell, head of savings at Moneyfacts, commented: Very few institutions offer savings accounts designed to meet the specific requirements of families with dependent children, so it is really refreshing to see the new range of family savings products from N&P.
