Savers can pay up to £250 a month into M&S’s Monthly Saver and earn 2.75%
M&S Bank customers have just one day to apply for its top-rate regular savings account before it disappears at midnight tomorrow.
Savers can pay up to £250 a month into the Monthly Saver and earn a fixed 2.75 per cent interest.
Those who save the maximum £3,000 over the year will pocket around £45 by the end of it.
The account is only open to those who have an M&S current account. Those who already have a Monthly Saver will see no change. M&S Bank is run by HSBC, which offers the same rate to its current account customers on a regular savings account which also lets them save up to £250 a month.
Its offshoot First Direct offers 2.75 per cent on between £25 and £300 saved each month.
The best rate available to everyone is offered by Coventry Building Society. It pays a variable rate of 1.55 per cent on deposits up to £500 a month for a year.
M&S Bank says all its savings rates are subject to regular reviews.
It adds that since it last adjusted its regular savings account rate, the Bank of England base rate has fallen to 0.1 per cent.
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