Spotlight: 5% Regular Saver from RBS and NatWest

There's another new option for savers seeking to maximise returns during the current low interest rate environment. Royal Bank of Scotland (RBS) Group is launching a Regular Saver Account paying 5 per cent.

Available from Monday under both the RBS and NatWest brands, the account will pay a fixed rate of 5 per cent for 12-months.

Customers can pay between £25 and £250 a month. However, if you don't make a deposit one month the interest rate paid will shrink to a measly 0.2 per cent.

Another disadvantage is that you must lock your money away for the whole year. On top of that, you must have an additional savings or current account with NatWest or RBS to qualify, which must be kept open for the entire term of the Regular Saver.

Although it is worth considering, the benefits don't seem attractive enough to make someone consider switching. There are likely to be similar deals popping up in the next few weeks which may offer better terms.