I found a brilliant piece of code on this site a while ago, and whilst it doesn't save automatically at a certain time, it does save a copy elsewhere whenever you press the save button, and it also works if the file is on a shared drive and other people save as well (of course the autosave destination would also have to be shared).
Private Sub workbook_beforeSave(ByVal SaveAsUI As Boolean, Cancel As Boolean)
Dim sFile
Dim location As String
Application.EnableEvents = False
location = "C:\Desktop\Archive\" 'change to suit
sFile = Replace(ThisWorkbook.Name, ".xls", " Backup ") & Format(Now, "yyyymmdd hh-mm-ss")
ThisWorkbook.SaveCopyAs location & sFile & ".xls"
Application.EnableEvents = True
End Sub