Ford Credit Europe has entered the consumer savings market, with the launch of Ford Money, at fordmoney.co.uk.

At launch, Ford Money offers a flexible saver product, a fixed saver product, a flexible cash ISA and a fixed cash ISA, with both the fixed products offering one or two year terms.

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In its release, Ford Money said further products will be made available later.

Deposits of up to £85,000 are protected by the UK government’s Financial Services Compensation Scheme (FSCS).

Ford Money services are available online and by telephone, with the company claiming customers can open an account online in under 10 minutes and deposit savings immediately.

Ford Money also promises ‘Our Best Rate Guarantee’, meaning that all customers are guaranteed the savings provider’s best available rates even after they’ve applied for their account.

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Julian Hynd, chief deposits officer, Ford Credit Europe, said: “Savers are looking for competitive and fair savings products. That’s why we created a range of savings products and ISAs that are easy to open, simple to manage and secure.

“Launching Ford Money is an exciting new chapter for the Ford brand. More importantly, it will help savers make their money work harder – now and in the future.”