A building society is offering savings bonds for investors who wish to beat the Bank of England's interest rate cuts.
Skipton Building Society is giving people who want to start saving money the chance to 'pick and fix' a set savings interest rate for either a year, two years or three years.
All three savings bonds offer a fixed savings interest rate of 4.76 per cent and a monthly income option of 4.56 per cent.
Customers are allowed one savings bond each, and can make a maximum investment of £50,000. The products will be offered from October 4th.
Jennifer Holloway, head of media relations at Skipton, said that no one could be sure of the Bank of England's next move: "Minutes of the last MPC meeting show there was unanimous support for keeping rates on hold, but for how long?"
She claims that savers who wish to "secure their money" can use Skipton's savings bonds to be "assured of a competitive rate".
The announcement comes as cahoot launches its Bonus Savings account. The savings account pays an introductory savings rate of 5.15 per cent gross interest on a minimum deposit of £15,000.
Pick and fix savings bonds offered
Pick and fix savings bonds offered
Fri, 30 Sep 2005
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