OakNorth Bank has launched a new range of joint savings accounts.

The specialist bank aims to provide a convenient way for people to share the responsibility of monthly outgoings in addition to future unexpected costs.

Applications for the accounts can be made by married and unmarried couples, relatives, friends and flatmates.

Each account holder can access the account, deposit and withdraw funds, view all transactions and set up standing orders and direct debits, depending on the type of product chosen.

Details of the new range:

• Personal easy access — 1.20%

​Personal fixed term:

• six months — 1.25%
• nine months — 1.3%
• 12 months — 1.56%
• 15 months — 1.58% 
• 18 months — 1.6%
• 24 months — 1.62% 
• 30 months — 1.64%
• 36 months — 1.66%
• 48 months — 1.68%
• 60 months — 1.7%

Personal notice:

• 35 days’ notice deposit account — 1.36%

“Since our launch in September 2015, we have strived to evolve our savings offering in line with customers’ changing needs and expectations,” said Stella Demades, product director at OakNorth Bank (pictured above).

“To date, we have attracted savings from circa 60,000 Brits who are making their money work harder for them through the range of competitive products we offer.”

Stella did, however, highlight the importance to “shop around” when choosing to open a savings account.

“This might be to do with the rate of interest you’ll receive, the level of protection you’ll get … and the level of flexibility you have in terms of paying in and withdrawing from the account.”