A new Skipton Building Society Two-year Step-up Bond has been launched

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A new Skipton Building Society Two-year Step-up Bond has been launched

Mon 10th Jul 2006

Skipton Building Society has announced the launch of its new escalator bond product which will offer rates increasing to 5.70 per cent gross per annum over a two-year period.

Investments of anything over £500 can be made in the new Skipton Building Society Two-year Step-up Bond and the rates will start at 5.10 per cent gross per annum.

Additional investments can be made by cheque or balance transfer until the bond becomes a closed issue and maximum investments can be made of up to £50,000.

The new product could interest customers who are concerned that the UK base rate will be lowered after 11 months unchanged because an increase on returns is guaranteed.

John Goodfellow, chief executive of Skipton Building Society, said: "With an average interest rate of 5.36 per cent, this product is currently one of the most competitive available on the high street so I would urge interested customers to call into their local branch as soon as possible."

Skipton Building Society is a mutual organisation with assets of around £8.6 billion under its management.

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