Financial services provider Bradford & Bingley has unveiled details of two new savings bond products for its banking customers.
The new one-year fixed-term savings bond offers a 5.5 per cent annual equivalent rate if the holder chooses to have interest paid annually, while the two-year alternative savings bond will pay out an annual equivalent rate of 5.7 per cent to reward those people who are willing to invest in a long term savings vehicle.
Moreover, investors have also been given information about how much money can be invested.
A minimum sum of £1,000 and a maximum of £250,000 can be put into the savings bonds.
Steve Potter, head of savings at Bradford & Bingley, commented on the new savings bonds.
"Bradford & Bingley's new fixed-term bonds offer among the best rates on the high street and are a great, risk-free way for savers to take advantage of current good interest rates," he said.
Under the format, investors put money into a savings bond in the knowledge that they will receive the original sum and an agreed amount of interest on that figure after a set period of time.
Financial services provider launches two savings bonds
Financial services provider launches two savings bonds
Tue, 30 Jan 2007
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