People looking to start saving money may be interested to hear about the launch of a new savings bond from Birmingham Midshires.
Available today, the financial services provider has unveiled new one-year fixed-rate savings bonds with gross savings rates of 6.16 per cent.
This translates into 0.91 per cent above the base rate set by the Bank of England's monetary policy committee, which Birmingham Midshires indicates makes them the best-value savings bonds on the market.
In addition, these savings rates are open to any customer who pays in a minimum balance of £1.
Jason Robinson, director of savings and investments at Birmingham Midshires, commented on the new savings bond.
"As a provider, we are consistently reacting to the needs of customers in achieving excellent fixed rates of interest," he said.
"Savvy savers should move quickly to grab this market-leading rate."
Savings bonds represent a form of savings vehicle that may appeal to banking customers looking to make long-term investments.
By investing money into the savings structure, bondholders know they will typically receive their initial capital back at the end of the deal as well as an agreed amount of interest.
Financial services provider discloses savings bonds
Financial services provider discloses savings bonds
Mon, 16 Apr 2007
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