Skipton Pick N Fix bonds launched

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Skipton Pick N Fix bonds launched

Mon 6th Nov 2006

Skipton Building Society has introduced a new range of fixed-rate products called Pick N Fix to the market.

The Pick N Fix range comprises of three fixed-rate bonds, available for terms of one-year to three-years and all require a minimum investment of £500.

The Skipton one-year bond, two-year bond and three-year bond offer interest rates of 5.51 per cent, 5.61 per cent and 5.65 per cent, respectively.

John Goodfellow, chief executive of Skipton Building Society, remarked: "The money markets are predicting further rises in the Bank of England's base rate and we've been able to use this to our investors' advantage to increase the return on our fixed rate bonds."

"Especially competitive is the three-year option with its return of 5.65 per cent," Mr Goodfellow concluded.

Skipton Building Society allows one of each bond per customer and all the bonds come with a monthly income option which shifts the interest rates to 5.31 per cent, 5.41 per cent and 5.45 per cent for the one-year, two-year and three-year bonds, respectively.

As the seventh largest building society in the UK, Skipton has assets of around £9.9 billion and has 79 branches.

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