NatWest and RBS launch new three-year bond

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NatWest and RBS launch new three-year bond

The Royal Bank of Scotland (RBS) and its subsidiary NatWest have announced the launch of a new three-year bond which could help encourage people in the UK to save.

Requiring a minimum initial investment of £5,000, the bond will pay an increasing level of interest over the course of its term.

It will earn customers three per cent gross interest in the first year, four per cent in the second and five per cent in the run up to May 29th 2012, when it matures.

Interest payments can be made either monthly or annually.

Carol Sleith, head of savings for NatWest and RBS, said: "In the current climate, many customers are looking for the best way to get a guaranteed return on their money. Savers who may require a bit of extra cash can opt to have their interest paid monthly."

Recently Alliance & Leicester announced the launch of a nine-month bond aimed at businesses.

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