Bradford & Bingley savings account launched

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Bradford & Bingley savings account launched

Bradford & Bingley has launched a new savings account called High Life 2-in-1 Saver, which divides the customer's investment in two.

One half of the capital they invest will be placed in a Bradford & Bingley one-year fixed-term bond, paying 8.25 per cent gross AER.

The other half will be invested in a Legal & General Portfolio Bond, which provides access to over 40 different funds including funds that combine equities, gilts, property and corporate bonds.

Customers will consult with a Legal and General advisor before deciding which of the different funds best suits their needs.

The bank has set a minimum overall investment of 10,000 and a maximum overall investment of £2 million.

Andrew Stead, head of financial planning at Bradford & Bingley, said that this was an "excellent opportunity" for those looking for the reassurance of a fixed return on their investment, but who also want to take a risk on a "longer-term bond where returns are not guaranteed but have greater growth potential".

Last week Bradford & Bingley launched two new six-month fixed-term bonds, both with a rate of 6.4 per cent per annum gross.
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