Bradford & Bingley fixed-term bonds launched

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Bradford & Bingley fixed-term bonds launched

Tue 30th Jan 2007

Two new fixed-term bonds have been introduced by Bradford & Bingley, with the customer given the choice of either a one-year or two-year deal.

The Bradford & Bingley one-year fixed-term bond offers a slightly better rate of 5.70 per cent gross per annum (AER 4.56 per cent) compared with the one-year bond with 5.50 per cent per annum gross (AER 4.4 per cent).

In addition, the customer gets the choice of monthly or annual payments on the two bonds and they can be snapped up for a minimum investment of £1,000, rising to a £250,000 maximum.

Steve Potter, head of savings at Bradford & Bingley, stated: "Bradford & Bingley's new fixed term bonds offer among the best rates on the high street and are a great, risk-free way for savers to take advantage of current good interest rates.

"At a time when even the experts are having trouble predicting the rise and fall of rates, investors will have peace of mind knowing that the interest rate will be fixed the term of the bond."

Interest rates on both the Bradford & Bingley one-year fixed-term bond and two-year fixed-rate bond are guaranteed until March 14th 2008 and March 13th 2009, respectively.

It must be borne in mind that once the initial investment has been deposited, customers are not permitted to make withdrawals or add money until the maturity date.

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