Norwich and Peterborough Building Society has announced details of changes to savings rates for its range of savings bonds, which may be of interest to customers looking to start saving money.
Effective from January 25th 2007, the financial services provider is offering new customers who do not want a long-term commitment a six-month fixed-rate savings bond that features gross interest of 5.25 per cent and an annual equivalent rate of 5.32 per cent when paid annually.
Alternatively, new customers who would prefer a slightly longer savings period can take advantage of a two-year fixed rate bond, which offers annually paid gross interest of 5.4 per cent and an identical annual equivalent rate.
At the long-term end of the scale, people who do not think they will need the funds in the near future may prefer to go for a five-year fixed-rate savings bond that offers gross interest of 5.35 per cent and a matching annual equivalent rate - again, this is correct if the interest is paid annually.
Meanwhile, customers who want to benefit from tax free savings that can be instantly accessed may prefer to put money into an individual savings account, which has an annual contribution limit of £7,000 per year.
Financial services provider alters savings rates for savings bonds
Financial services provider alters savings rates for savings bonds
Tue, 23 Jan 2007
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