Yorkshire Building Society recommends 5-year bond

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Yorkshire Building Society recommends 5-year bond

Wed 23rd Sep 2009

Yorkshire Building Society has advised savers to make sure they put their money in a bond that will give them the best return.

Sarah Lawrence, senior product development manager for savings at the organisation, pointed out that the difference between the different interest rates being offered at the moment could make a significant impact on some people in the long term.

She advised looking around before putting money into a bond as getting extra interest every month could make life more financially comfortable, or even let savers put the money aside for something special.

Yorkshire Building Society highlighted how the extra interest saved by taking out a higher-return bond over five years could pay for a Mediterranean cruise for two people.

"Just by spending a few minutes shopping around when buying a bond can make a big difference to savers' returns," added Ms Lawrence.

Last week, the organisation launched new fixed-rate three and five-year bonds at 4.65 per cent and 5.3 per cent interest respectively.

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