Renault, the French car manufacturer, has launched a new easy-access Freedom savings account that comes with a market-leading 1.5 per cent interest rate.<\/p>\n
The new savings account is offered by the carmaker\u2019s dedicated bank in Britain \u2013 RCI \u2013 and it is similar to other accounts offered in Germany, Austria and France.<\/p>\n
The bank uses cash deposited by savers to provide finance packages to buyers of Renault vehicles.<\/p>\n
Monthly or annual interest is given on deposits held, depending on the saver\u2019s preference, and an account can be opened with as little as \u00a3100.<\/p>\n
RCI has emphasised that the accounts have \u201cno penalties, notice periods, tiered rates, gimmicks or small print\u201d and the bank has already announced its intention to bring a wider range of products to the market in the near future.<\/p>\n
However, any prospective savers interested in opening an account should be aware that their money will be covered up to the value of \u20ac100,000 by the French guarantee scheme \u2013 FGDR \u2013 rather than by the Financial Services Compensation Scheme, which is responsible for protecting most other UK savings and current accounts.<\/p>\n
A number of non-traditional banks \u2013 including Aldermore, Charter Savings, Harrods and Shawbrook \u2013 have begun to launch products that offer more competitive interest rates than the traditional high street banks.<\/p>\n
Steve Gowler, chief executive of RCI Bank, said: \u201cWe\u2019re really excited about entering into the UK savings market, and importantly entering the market with an innovative and competitive product.<\/p>\n
\u201cWe also have the added benefit of being part of a global group, working for Renault and Nissan brands, and we are committed to using our strength to deliver the very best savings accounts and security for our customers in the UK.\u201d<\/p>\n
RCI\u2019s head office in the UK is based in Watford, with its Newcastle-based call centre also offering seven-day support to customers.<\/p>\n","protected":false},"excerpt":{"rendered":"
Renault, the French car manufacturer, has launched a new easy-access Freedom savings account that comes with a market-leading 1.5 per cent interest rate.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/814"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=814"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/814\/revisions"}],"predecessor-version":[{"id":815,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/814\/revisions\/815"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}