A new savings account has been launched by Halifax, but unfortunately at times when more people than ever are struggling with debt, the huge rates of interest are only available to the wealthier UK consumers.
The Regular Saver Account offers 10% interest but only if consumers can afford to stash away as much as £500 a month which is far more than the majority of people can afford.
As a further incentive to save, Halifax are offering another 2% interest on top of that to the luckiest people who can deposit £5,000 in another Halifax savings account during the year.
Head of Savings for the group Tony Wilcox commented, "This is the market leading regular savings account. It is now even more attractive for savers to establish that all important regular savings habit."