Bradford & Bingley introduced new fixed-rate bond

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Bradford & Bingley introduced new fixed-rate bond

Bradford & Bingley has launched a new one-year fixed-rate bond, with a competitive rate of 6.40 per cent gross.

Customers signing up to the limited edition bond are not permitted to make any further deposits or withdrawals until the account matures on the anniversary of its opening.

It also has a minimum deposit requirement of £1,000 and a maximum limit of £2,000,000.

The bond is also open to customers who would like their interest to be paid monthly, but the interest rate is lowered to 6.22 per cent gross.

Paul Whitlock, head of savings at Bradford & Bingley, said the bond is available on a first come, first served basis and urged people to apply now to avoid disappointment.

"Our one-year fixed rate bond is ideal for savers looking to maximise the returns on their savings by locking into a market-leading fixed rate," he added.

Earlier today Abbey announced the launch of three new bonds - a fixed-rate, 50-plus and children's savings bond.
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