Birmingham Midshires could have dealt a boost to its customers by improving the rate on one of its savings options.
The company has increased the interest rate available on the fixed-rate bond, which it claims was "already market-leading".
Coming into effect on October 7th 2006, the one-year savings bond had the rate increased to 5.62 per cent.
Available with a starting balance of £1, which the company claims makes it unique in the market, the savings bond also offers customers the option of receiving their interest on an annual or monthly basis.
However, when receiving monthly interest, the savings option pays at a rate of 5.48 per cent, lower than the annual option.
Richard Brown, head of savings products at Birmingham Midshires, said: "We're consistently reacting to the needs of our savings savvy customers in achieving excellent fixed rates of interest over a year long period.
"Customers should move quickly to grab this market-leading rate."
Birmingham Midshires offers a range of savings and mortgage products in the UK and is part of the Halifax Bank of Scotland group.
Birmingham Midshires boosts savings rate
Birmingham Midshires boosts savings rate
Mon, 09 Oct 2006
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Birmingham Midshires boosts savings rate
Birmingham Midshires improves savings rate
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