NatWest has launched three new savings deals for its customers.
The bank has increased the rate of interest on the Young Saver accounts to 5.0 per cent, up from 4.42 per cent.
NatWest is keen to encourage parents of older children, who are not part of the new government Child Trust Funds scheme, to invest money on their behalf.
All three deals have this objective in mind, with the Young Saver service offering welcome packs, including charts and stickers.
The bank has also launched a one-year fixed-rate bond, also at 5.0 per cent. It requires a minimum investment of £5000 that must be kept for the full one-year term with no withdrawals made.
The third deal is an increased top tier to five per cent on the bank's instant access Mini Cash ISA accounts.
Helen Page, director of NatWest Brand, said: "We are pleased to be able to increase the rates on two of our most popular products and also introduce this new fixed rate bond.
"We believe that our range suits the varying needs of our customers from those just starting out with savings, to those with money they need to access and then of course to those who are looking to put their money away for longer with a guaranteed interest rate."To read more about child savings, click here.
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