New savings bonds available from Birmingham Midshires promises to pay a market leading savings interest rate of 5.05 per cent AER.
Those who want to start saving money but do not have a large amount to invest initially could open these savings bonds with a minimum investment of a pound.
The savings provider points out that many of its competitors require customers to invest a minimum of £1,000 in order to receive the best savings rate.
Half of savings providers that offer best buy savings rates require at least £500 as an initial investment, Birmingham Midshires points out.
These two savings bonds, over terms of four years and five years, complement the one-year fixed rate savings bond launched by the savings provider earlier this month.
Consistent provision of great products is "the only way to build a longstanding relationship with customers in the competitive savings sector" believes the head of savings products at Birmingham Midshires, Richard Brown.
Mr Brown says that with the existing range of fixed rate savings bonds, Birmingham Midshires has "plenty to offer" to customers who want to earn a guaranteed competitive rate of interest.
Best buy savings bonds launched
Best buy savings bonds launched
Mon, 31 Oct 2005
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