Sainsbury's Bank launches fixed-rate saver
www.moneynews.co.uk > Banking > Sainsbury's Bank launches fixed-rate saver
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Money News |
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Sainsbury's Bank launches fixed-rate saver
Wed 11th Oct 2006
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The Sainsbury's Bank one-year fixed-rate bond is available for a limited time only on a first come, first serve basis and offers a guaranteed return of five per cent gross.
The minimum fee that customers can invest is £3,000 and the interest is accrued daily and then paid upon the bond's maturity on October 9th 2007.
Due to the fact that only a limited amount of funds can be accepted, the Sainsbury's Bank fixed-rate saver cannot provide a specific date for the limited time only offer so it is best that those interested apply as soon as possible.
A spokesperson for Sainsbury's Bank stated: "Fixed rate savings bonds offer some of the best rates in the savings market whilst at the same time providing a high degree of certainty. They are ideal for those wishing to put a little extra away and supplement their normal savings."
A key benefit for customers using the Sainsbury's Bank fixed-rate saver is that fluctuations in the financial market do not affect a fixed interest rate which eliminates the risk from the venture.
Related News : Banking |
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Related News : Sainsbury |
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