Birmingham Midshires One-Year Fixed-Rate Bond issued

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Birmingham Midshires One-Year Fixed-Rate Bond issued

A Birmingham Midshires One-Year Fixed-Rate Bond has been introduced to the public today, with an annual equivalent rate of 5.01 per cent.

This rate will be available for balances of £1 and above and flexible interest payments will be allowed as customers can receive their interest on a monthly or annual basis.

Monthly payments will be made at 4.9 per cent gross.

The company claims that the Birmingham Midshires One-Year Fixed-Rate Bond is a unique product in its offer of interest on a balance of £1 and currently one of the best buys available.

"We're consistently reacting to the needs of customers in achieving good fixed rates of interest over a year-long period," said Richard Brown, head of savings products at Birmingham Midshires.

"Customers should move quickly to grab this market-leading rate."

More information about the account and how to apply can be found on the company's website.