Clydesdale Bank releases new fixed bond

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Clydesdale Bank releases new fixed bond

Investors with Clydesdale Bank can now apply for a new one-year fixed-rate bond, the company has announced.

Available with a rate of 4.5 per cent Gross for one year, it is on offer when it is taken out in conjunction with an Axa investment product, with the two plans together know as the Advantage Combination Plan.

Under the terms of the new plan, consumers are allowed to split their investment, with a minimum of 50 per cent required to be held in an Axa product such as an Isa or Investment Bond.

The remaining sum is placed in Clydesdale Bank's product, with the lowest sum to be deposited here standing at £2,000, with an upper limit of £5 million.

Steve Reid, retail director at Clydesdale Bank, said that by combining the two products "savers can make sure their money is punching its weight in the fight for the best returns, without taking too many risks".

Homeowners looking to remortgage were recently offered one year's free building and contents insurance worth £1,000 when they moved to a new product with Clydesdale Bank.

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