Portman Building Society 60+ One-Year Fixed Income Bond launched

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Portman Building Society 60+ One-Year Fixed Income Bond launched

Thu 10th Aug 2006

People over the age of 60 now have a new savings option after the Portman Building Society launched its latest bond product.

The new Portman Building Society 60+ One-Year Fixed Income Bond offers an interest rate of 5.27 per cent gross for balances of £5,000 or more.

Accounts can be opened at any of Portman's 143 branches located nationwide.

Interest is paid monthly, investments can be up to £100,000 and a minimum of £5,000 needs to be deposited to open a bond account.

Group communications manager at Portman, Helen Shaw, said: "Portman is committed to offering continually competitive savings rates across its range and this latest addition provides savers aged 60 and over with a guaranteed monthly income at a superb rate of interest within a one-year fixed rate income bond."

Portman is a mutual building society which has over £17.8 billion worth of assets under its control.

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