A new savings bond from Cheltenham & Gloucester offers competitive savings rates for people who want to make an investment.
The new fixed savings rate savings bond offers a guaranteed return of 4.50 a year gross/AER (3.60 per cent net) until August 31st 2006.
Those who would like to receive the interest on their investment ever month would be on a savings rate of 4.40 per cent gross (4.50 per cent AER, 3.52 per cent net).
People who want to take advantage of this deal could make a minimum investment of £500 to start earning interest.
According to the society's savings director, falling savings rates are responsible for some changes in the market, but this one-year fixed savings rate bond offers excellent returns on investment.
"Our latest one-year fixed-rate bond still provides excellent value for anyone who relies on the income from their savings with a guaranteed return of 4.50 per cent on as little as £500 until August 31st 2006," he said.
The savings bond also offers an emergency withdrawal facility, subject to a charge equivalent to 120 days' gross interest on the amount withdrawn.
Those wanting to save money by making an investment in this savings bond are advised to start doing so quickly, as this savings offer is only available for a limited period.
Savings bond investment offers competitive savings rate
Savings bond investment offers competitive savings rate
Wed, 13 Jul 2005
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