Yorkshire Building Society has announced that it will launch two new savings bonds that it claims will be more flexible than traditional savings bonds.
The two-year savings bonds have the option for early closure, while one also allows partial withdrawals during the fixed rate term of two years.
A savings interest rate of 4.75 per cent annual equivalent rate (AER) is available on the first savings bond that does not allow withdrawals until March 31st 2008.
Interest can be taken every month at a reduced savings interest rate of 4.65 per cent AER and the account could be closed early (subject to 180 days' loss of interest).
The second savings bond offers a savings interest rate of 4.65 per cent if interest is taken annually, or 4.55 per cent if monthly payment is preferred.
This savings bond allows one withdrawal of up to a quarter of the original balance every year. The same early closure facility is available for this savings bond.
"There are increasing instances of investors opening fixed rate bonds and subsequently finding that they need to access their money at short notice," comments Chris Edwards, the savings product manager at Yorkshire.
He says the society hopes that the choice of savings bonds and the options available with each will ensure that members get the savings bond that suits their requirements, coupled with a "great" savings interest rate.
New savings bonds by Yorkshire
New savings bonds by Yorkshire
Tue, 17 Jan 2006
Recommended links
Savings bond to offer guaranteed returnsCompare providers for Saving bonds deals
Information on Investment Bonds
<% Randomize: ord=int(rnd*1000000000) %>
 %>?)
| savings news |
|---|
| Skipton BS launches new savings bonds - Mon, 05 Jan 2009 |
| People make savings resolutions - Fri, 02 Jan 2009 |
| Nationwide BS to cut savings rates - Wed, 31 Dec 2008 |
| More News |
