Birmingham Midshires' one-year fixed-rate bond breaches 6%

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Birmingham Midshires' one-year fixed-rate bond breaches 6%

Wed 17th Jan 2007

The Birmingham Midshires one-year fixed-rate bond has been launched with a rate that breaches the six per cent barrier - becoming the first savings provider to do so according to the company.

Following the Bank of England's recent decision to raise the base rate to 5.25 per cent, Birmingham Midshires has responded by introducing the new bond with a rate of 6.05 per cent AER.

Birmingham Midshires' one-year fixed-rate bond will be 0.33 per cent above the current bond offering from the provider when it is made available from January 20th.

"We're consistently reacting to the needs of customers in achieving excellent fixed rates of interest over a year long period," said Jason Robinson, director of savings and investments at Birmingham Midshires.

"Following last week's base rate increase, Birmingham Midshires is keen to pass on the most competitive rate possible to savers. Customers should move quickly to grab this market-leading rate."

Birmingham Midshires achieved the accolade of best online savings account provider in the Your Money awards in 2006 for a third successive year.

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